Banks could pay you 3–10%, they just don’t want to! (with supported evidence)

Reference: https://blog.celsius.network/celsius-network-interest-rates-explained-a336a52e163d

• Banks are only paying depositors, on average, less than 1%
• banks could also pay you 3–10%, they just don’t want to
• Banks have gotten away with lowering the payout rate as they merged with other banks reducing competition and paying depositors the bare minimum in interest while keeping most of the profits for themselves.
• Most banks typically have between 14–25% return on their capital, so by paying customers 1% in interest, they’re keeping over 80% of the profits and distributing these earnings to their shareholders, usually in the form of dividends and share buyback.

The last statement is also supported by this article: https://www.forbes.com/sites/robertlenzner/2018/04/06/dimon-annual-letter-predicts-j-p-morgan-chase-earns-17-return-for-foreseeable-future/?sh=51cd523472ea

• J.P. Morgan Chase Earns 17% Return For 'Foreseeable Future'