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> customers of SVB were getting attractive returns on their deposits Can you quantify that? If a startup had $1M in a business checking account, what interest
by stickfigure 3y ago
> customers of SVB were getting attractive returns on their deposits
Can you quantify that? If a startup had $1M in a business checking account, what interest rate were they getting paid?
I was under the impression that depositors at SVB were getting 0% like everyone else in the 0-interest-rate era.
- FireBeyond 3y agoAround 4.91% interest up to $4M.
- butlerm 3y ago> Around 4.91% interest up to $4M. Anyone being paid interest like that on demand deposits should expect their bank to fail, unfortunately, and consider themselves lucky to get cents on the dollar when it does.