Bank Interest?

[Ralvn]

Well im not poor or anything. trust me on that. but i have come to realize that real life banks have Bank Interest and Deposits and stuff like that. So i was wondering what if RS banks had deposit boxes and Interest on how much money you could put inside.

 

 

 

Pro: Earn more money overtime

 

 

 

Con: Free money in Runescape economy bad idea maybe?

[jwrm22]

if you want money... just put 7500k in the miscellenia chest and wait 100 days (keep the money above 750k all the time and that the ppl in your island do like you alot) theyll work you: 1k maple per day, 1k flax per day (100% maple, 50% flax) and you can sell it on for dobble you payed for it, and the tree seeds from the nest are also a big deal... magics are still 120k...

[Ralvn]

if you want money... just put 7500k in the miscellenia chest and wait 100 days (keep the money above 750k all the time and that the ppl in your island do like you alot) theyll work you: 1k maple per day, 1k flax per day (100% maple, 50% flax) and you can sell it on for dobble you payed for it, and the tree seeds from the nest are also a big deal... magics are still 120k...

 

 

 

wow that is a dam good idea man

[Xaga]

Banks can give interest because banks can give loans. Banks can give loans because banks can reposess objects worth money and auction them for a fraction of the cost.

[Ralvn]

Banks can give interest because banks can give loans. Banks can give loans because banks can reposess objects worth money and auction them for a fraction of the cost.

 

 

 

oh...well im only 15 so i dont really know a lot of that stuff yet. but thank you for clearing it up. i now know that this won't work :wall:

[Daviduhlich]

if you want money... just put 7500k in the miscellenia chest and wait 100 days (keep the money above 750k all the time and that the ppl in your island do like you alot) theyll work you: 1k maple per day, 1k flax per day (100% maple, 50% flax) and you can sell it on for dobble you payed for it, and the tree seeds from the nest are also a big deal... magics are still 120k...

 

 

 

That's as close as you're ever going to get to gaining interest for your money. Either that or buying a rare.

[Dr_Elephant]

I've often wondered if Jagex is passing up a valuable learning opportunity for their younger players by not implementing some form of bank loan. Something that would require regular payments and when the payments stop, items in your bank start getting repossesed.

[Fencal]

Banks can give interest because banks can give loans. Banks can give loans because banks can reposess objects worth money and auction them for a fraction of the cost.

 

 

 

oh...well im only 15 so i dont really know a lot of that stuff yet. but thank you for clearing it up. i now know that this won't work :wall:

 

 

 

12 and i get it..but then again, if this did come out, the would be a new few scams added to the jumple pile :shame:

[GrimHams]

How are the bankers meant to judge when a year or day is up.. its never evening or night :wink:

[Kewl_Sabre]

I think that the RS economy has plenty of cash in it as it is... I don't think interest is really needed. With so many ways to make money and with the popularity of High-alching, it would just drive up inflation even further.

 

 

 

Although I personally would love to get a loan from the Bank of Varrock. :)

[kubert7]

That would kind of ruin the joke when you examine a bank booth-

 

"Ask about our low, low, interest rates!"

 

 

 

lol.

 

 

 

Runescape doesn't need anymore money than it has now.

[sligo]

I've seen this type of suggestion before, and the answer is a resolute NO.

 

As stated previously, the reason why modern banks can give interest on accounts is because they charge interest on loans. The interest earned is typically half of that charged.

 

 

 

Also, included in this formula is the factor for loan defaults. A bank doesn't have a lot of ways to recoup losses other than taking your stuff.

 

 

 

Ok, so here's the scenario: I (level 100 combat, established character, etc) go to the bank to borrow 3 million so I can by an abby whip. I agree to pay interest of, say 10%, over the course of the loan, with weekly or monthly payments. Then I go on vacation in real life...

 

 

 

The first time I miss a payment, I get a nice letter from the bank saying "I know you over looked your payment, but..."

 

 

 

The second time I miss a payment, I get a nasty letter.

 

 

 

The third time I miss a payment, my stuff in the bank gets confiscated - at LOW ALCH Value (which is the guaranteed value the banker can sell your stuff for at a general store). Bye bye whip!

 

 

 

Quite likely, my bank account will be cleaned out, and I will be out there crying that I've been hacked. My "credit rating" is trashed and I may as well started a new character.

 

 

 

Next scenario: I start a brand new character. I go to the bank and withdraw as much as I'm allowed - 10 million? 10 thousand? 1 thousand? whatever. I give this money to my "main" account and never open the brand new character again. Do this enough times and I have all the money I need on my main account.

 

 

 

Ok, so you see why loans won't work in Runescape - mainly because there isn't accountability, and that it really is just a game. Since loans won't work, then it makes sense that banks can't "invest" their holdings in order to make money, so therefore, they can't give interest either.

 

 

 

My question, then, in the game, just how do the banks and general stores stay in business? If anything, the bank should charge a deposit fee on all deposits (per transaction, perhaps? Even if it is just 1 coin per access), and general stores should put a limit on purchasing non-sell-able stuff (like all those millions of unstrung willow bows).

 

 

 

- Sligo

[nomar04]

bank interest would only let the rich get richer and the poor stay poor and complain even worse

[thaimodz]

How about a way to discourage people from keeping all the money in the bank?

 

 

 

MONEY IN BANK | Int. Rate for depositing per week

 

0-10k = 8%

 

10k-100k = 6%

 

100k-1M = 3%

 

1M-10M = 1%

 

10M-100M = 0%

 

beyond that : depositing fee (there was no insurance back in RS, so you must pay for property protection in case of robbery)

 

 

 

................................

 

 

 

And a way to give out loans, which...

 

 

 

DEFINITIONS: Term "LEVEL", means TOTAL LEVEL, not COMBAT LEVEL. As this is not related to combat but economy.

 

 

 

Interest rates depend on player level:

 

Low level: Low interest for little money, limit loan amounts.

 

Higher levels: No interest for little money, high interest for more money (more than 20K?), no loan limit cause you're trusted.

 

 

 

IF... you can't pay... and you stay 'in red' for too long...

 

You go bankrupt and all items in the bank will be seized (and put out in general store). No more bank accesses and you must use deposit boxes to pay out loans (with money or item)

 

 

 

For low-level players the period before bankruptcy is longer. Doing anything with loans will take you to a 'fine print' page which you must sign your RSN and enter bank PIN (to make sure you read the terms)

 

 

 

I, _____(your RSN) wish to take out loan of _____(fill) gp/k/M (choose) with interest of ____(auto-filled) for ____________ (reason, auto-filled by highest skill like Smithing Business, etc). I have read the fine prints (click for fine prints) and agree to every terms without conditions. I also authorize the bank to seize my bank account if I go bankrupt.

 

 

 

Signed,

 

_____(your RSN)

 

 

 

When you take out a loan you will get two pieces of money, the yellow gp and the red icon that displays debt which you can pay by using right-click menu on it.

 

 

 

..........................

 

 

 

Paying with Credits (jk)

 

Pay to shops that has 'RS Bank Credits accepted' using remote transfer from your bank! You can go in red with this as well!