What effect could the higher rates at Second National have on the people who want to borrow at Community Bank?
A new bank, Second National, has come to town and to attract depositors, it is offering a 6.5% interest rate for savings accounts. (Community Bank currently offers an interest rate of 6%.)
- 1 decade agoFavorite Answer
No effect whatsoever.. if people want to barrow at first community they only get a lower rate.. they are two separate banks.. one has nothing to do with the other..