What are the Interest Rates Like at Gringotts?

What are the Interest Rates Like at Gringotts?

As you may have heard from our recent interview with IE Horton I have a problem with Gringotts. They’re the only Wizarding bank, the only one! What’s more, they’re run by goblins and goblins occupy a strange place in the Wizarding World. A subjugated people, to be sure (there seem to be a lot of them around), but not ones that evoke the same sympathies we have for, say, House Elves with their lives of drudgery or Centaurs with their benign mysticism. Goblins are cunning, conniving, careful creatures that have apparently rebelled more than once if Professor Binns is to be believed. I’m not sure what they were rebelling against in particular, or exactly what the conditions of their subjugation are because they seem to all be gainfully employed in what must be a fabulously wealthy institution.

Which leads me to interest rates. With no competition and an understandable grudge against wizards what do you suppose their rates are like on a mortgage?

It has never been 100% clear to my why the Weasley’s were a poor family until I thought about this. They must be getting absolutely gouged on that house of theirs, it’s no wonder they can only afford crappy Clean Sweeps* for Quidditch. 

The goblins may well have the grievance that they, a sentient race, have been cloaked under the statute of secrecy for their entire existence from the majority of humankind. As bankers you’d think they’d see this as a problem. It upsets me enormously. Wizard kind in the Wizarding World must be phenomenally arrogant to just assume that every other sentient creature on the planet (and there’s dozens of them, apparently) should be kept under lock and key because muggles can’t be trusted. If goblins were a little more magical I think I’d understand but as far as I can tell they’re just short. Besides which, this blanket of secrecy must be enormously costly for the Ministry to run, but fear not the goblins supply ample credit.

*a brief note on flying brooms: it seems if the product name emphasizes the ‘broominess’ more than the ‘vroominess’ (eg firebolt, nimbus) of the thing, it’s not gonna be fast, is it?


Stay tuned for more writing from the WorldCraft Club as we explore worldbuilding and the crafting of fictional settings to inspire your creativity.

We’re happy to host guest blogs on here whenever we can, it gives James a break and let’s other people contribute their ideas. Let us know if you have a worldbuilding concept or strategy to get off your chest, we’d love to hear it.

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