How much money do you need to start your own bank?
Can you really be your own bank?
You would just borrow from yourself and continue paying yourself back over time — thus becoming “your own bank”. Needing the money to buy an engagement ring, a new car or house, or a child's education — you can borrow for anything using this policy. No more paying interest to the banks anymore.
How much money do you need to start your own bank?
Banks generally need between $12 to $20 million in starting capital. If you start a local community bank, you might be able to raise that money locally. Otherwise, you may have to solicit investors. Once the capital is raised, you must apply to regulatory agencies.