Interest Rates

At Citi Bank, their lowest interest rate is for a day-to-day savings account, or one intended for short use. Some of these accounts, along with their general Premier Money Market accounts only yield .1-.2% a year. Interest rates do get as high as .45% per year for Citibank's "Savings Plus Accounts" that hold over 100,000$. Annual APR or interest per year paid on auto loans ranges from 10.49% to 25.49% based on the size of the loan.

Both make their loans a lot more expensive than the interest they pay out so the bank itself can make money. Also they know that people always will need both of their services since people tend to dislike holding large amounts of cash. People will always want to make money on their saved money, and most people will never have enough money to pay for large payments (like house or cars) on their own.

At Harris Bank, the lowest yearly interest rate is .005%, while the highest interest rate gets as high as .45% longstanding loans. The loan's range is due to different financial plans and how much money is in the account.

Harris Bank's interest loan on their car's is less than at Citi Bank, averaging about 5-6% paid per year. One reason that the loan at Harris Bank was so much lower for cars was that the length at which the loan was required to be payed out was shorter than at CitiBank

The two banks have very similar savings accounts, with Citi Bank's account on average about .1% higher in interest rate. Also, Citibank's rates have more specific requirement's for exact rates that are determined strictly by how much money is put into the account. Harris Bank's car rates are much better though, With their average interest paid back to them per year half as much as the rates at Citibank. Both have much higher interest rates on loans to make a profit, so their sales coming in are higher than the interest they're paying out.