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>> The fund pays 3.93 per cent. How can I get into this! Paypal used to do this and they had an outstanding rate of return.
by cannotsay2017 9y ago
>> The fund pays 3.93 per cent.
How can I get into this!
Paypal used to do this and they had an outstanding rate of return.
- Veratyr 9y agoYou almost certainly can't, unless you're Chinese. It's hard to get online accounts like this without already having Chinese identity documents or bank accounts. However it isn't really anything special in terms of return: https://www.deposits.org/world-deposit-rates.html https://www.deposits.org/world-deposit-rates.html A 1-year term deposit in Azerbaijan can get you a 15% return. The problem with looking at just the interest rate is that inflation and the value of the currency can pay a huge factor in how much that interest rate is actually worth.
- Analemma_ 9y agoEven if you could get in, you'd probably have even more trouble getting out, what with capital controls and all. I wouldn't feel FOMO though, this is a dangerous game, see https://www.wsj.com/articles/chinas-short-term-lending-boom-wont-end-well-1466135865 https://www.wsj.com/articles/chinas-short-term-lending-boom-.... Short-term borrowing costs in China are going up, not because more people need actual overnight loans, but because the government is trying to deflate the bubble by making it harder for risky borrowers to get longer-term loans, and borrowers are responding by just getting overnight loans and continuously rolling them over. But this can't last forever. A bunch of smaller Chinese banks have already gone bust from these overnight loans. Funds like this are going to be the first to go when the music stops in China.
- akhatri_aus 9y agoIt's not in USD is it?