.75%, 1.25% or 3%

.75%, 1.25% or 3%

These are the interest rate on the savings bonds this year.
I remember when I was a kid my dad had me put any excess money I had into savings bonds, and he always said “Never go below 5%.” I’ve moved most of my savings into other things, but I still have a couple of the savings bonds from when I took my dad’s advice. Just last year some of them matured and I only got about $75 for $400. That was with an interest rate of higher than 5%.

I can’t imagine putting my money into a bond that only gave me 1% interest. It wouldn’t even be worth my time to go in and sign the paper work. I’m wondering though, if there are some people out there who will still get these bonds. I guess it’s a given that some people would.
So how on earth do these banks and such get away with charging us ridiculous interest for any money we borrow? Or even better yet, they charge us for the ability to loan out our money and earn even more money.

Man am I in the wrong business.