👩❤️👨 This relationship saves you money #shorts
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Summary
AI-generatedThis video explains 'relationship discounts,' which are offered by banks to clients who deposit a substantial amount of money with them, in exchange for a reduced interest rate on their mortgage. While potentially beneficial, the required deposit amount may negate the savings for most people.
Key insights
A 'relationship discount' is when a bank offers you a lower interest rate on your mortgage if you promise to keep a certain amount of money in a checking/savings account with them for a period of time.
Mistakes to avoid
Don't assume a relationship discount is automatically a good deal. Consider the opportunity cost of tying up a large sum of money in a low-interest account.
Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial