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Earnings Credit Rate |
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Earnings Credit Rate Also called an ECR. The interest rate a bank pays on customer deposits. Rather than being applied to the deposit directly, ECRs are used to reduce the fees the customers pay for other banking services. For example, if a bank is paying a 0.05% ECR on a $10,000 deposit, the depositor earns a $5 reduction in his/her other fees. An ECR is usually connected to a Treasury bill rate. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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