Don't listen to Dennis - he is not competitive!
I can provide that sort of deal for only -5% p.a.
And before several hundred readers of this forum start quoting that they will do it for -4.995%, -4.27% or whatever, I must confess that the real reason for quoting as I did was to show that someone will always look for a competitive advantage where they can. ("Can I offer a better deal and still make enough profit to make it worth my while?").
If I can get 5% p.a. for holding someone's money, and then use it before returning it, for example by putting it on overnight deposit at 1% p.a. net, my total return is 6% p.a. with insignificant risk (as long as I don't deposit more than £85,000 with each deposit-taker).
Alternatively, I could do what banks are currently doing, which is to pay 0.5% or less to depositors, then lend out their money as personal loans to those in need, who I am obviously helping by charging them only 19.9% APR ("a snip!" - even if 10% of borrowers default). In the meantime, the only other member of staff in my branch (to whom I pay the minimum wage when they moonlight for me as a cleaner in the evenings) changes currencies for customers at rates which mean that I keep around 10% of every transaction. (I'm not sure I shall be able to give up this source of income to work as an M.P., despite the salary, expenses and pension scheme, so I'll stick with the day job, taking a cut wherever I can, while proclaiming that my salary and bonuses are set competitively by my pal that I met in the pub, and I can assure the public that even though I keep him in beer, he is totally impartial in this matter).
Now tell me that the above is just surreal babble .......!
