More reasonable interest rate

Started by 0xsergy, June 07, 2012, 04:00

0xsergy

Heya, I'd like to suggest an increase to the interest rate because the way it is at the moment you earn a ridiculously low value from interest(0.0003%) which is really next to worthless. For example, by the time you're earning 1,000 from interest you'll already have just under 3.4 million in the bank so that 1,000 pales in comparison and becomes next to insignificant. I think a 0.003%-0.005% interest rate might be a bit more reasonable as it would give a much more significant income. Especially with the high house prices these days it would be very helpful to have a greater interest rate. Thanks for the consideration, if even.

Hobo

Quote from: mick88I'm making this topic specifically for those who whine that the bank interest rate is too low or lower in real life. Now, mind that on server the interest is added to your account every 24 in-game hours which is for your benefit as the interest acumulates.

Interest rate in server is 0.0003 per day, that is 0.03% (0.0003 x 100). This means that every 24 in-game hours you receive 0.03% of whatever funds you have on your bannk account. In real life banks tell their interest percentage on a year scale so we need to multiply it by 365 and the result is: 10.92% (0.03% x 365). So 10.92% is the real comparable interest rate. But if you want to get that kind of money you need to play 146 hours, that's how long year is in-game.
Now, if you can show me a bank that guarantees 10% interest rate I will bite my hand off!
http://www.forum.convoytrucking.net/index.php/topic,5297.msg57471.html#msg57471

That was over a year ago. Maybe time for a slight increase do to the house prices. I don't need it because my interest already pays for my vehicle's insurance plus extra but it would be nice and I only own 3 vehicles.
+1 to a small increase of the interest rate from the Bank of CVT. A big increase is not needed but a small one would be nice :)


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Lindsey

interest farming...no thanks.
View my news story : http://www.forum.convoytrucking.net/index.php/topic,39051.new.html#new
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Lindsey ~ Sticking up for the little guy - http://www.forum.convoytrucking.net/index.php/topic,39070.0.html
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Quote from: brane on June 06, 2013, 10:53
Quote from: Lindsey on June 06, 2013, 08:37
Terror, youve been on your last warning for stuff on ct for like a year so I dont feel treatened by you
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RaceRX

im always for more money. plus, farming is out of the equasion due to activity is required to get interest.
playing since 2010, moderator for over a year demoted for being an ass to an asshole then banned for speed hack then returned for awhile then dipped out

Nice

Marccc

I can tell you that when you have 60 mil on bank you get 18K interests.

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[hide=link]http://imgur.com/a/gaJTT[/hide]

Benny

I have 23mil now and i am getting 7k of interest that is enough for me :)
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$nake

It's easy to count..
$33 mils gives $10k
$66 mils gives $20k
$99 mils gives $30k
etc

but changing it to same as was in past, from me +1! :)

TheSandman

Every 3 million = 1000 in interest.
25/8/11 - 4/10/15: 1502 days of continuous staff duty C:-)

0xsergy

Quote from: Lindsey on June 07, 2012, 04:50
interest farming...no thanks.
You get kicked for inactivity after 5 minutes so there won't be farming. Plus, I'm not talking about some ridiculous amount of interest, just a more reasonable rate(10,000 for having 3.4 million is fair, IMO).

Deff

earn money by working, not from interest,

If you get that interest that means no need of working, so you can get that interest after you have worked a lot (i.e. very high score), then you won't need to work anymore (like $nake and all) :)

The_Spinner


Vinny

0xsergy:
10,000 for 3,4M ? Too much.
Konali would get 300k interests btw xD
Quote from: Spekter on December 13, 2016, 22:47
Quote from: Ethan on December 13, 2016, 22:31
why the fuck do you even bother breathing??
I bother breathing just so that i can tell you what a fucking moron you are, nothing more and nothing less.

Sjomp

Quote from: Vinny on June 07, 2012, 22:39
0xsergy:
10,000 for 3,4M ? Too much.
Konali would get 300k interests btw xD
Konali? who is konali? never seen ingame :-\

but /work gives us already lots of money so why should we need more?
Just work for your money O0

Joshy

Quote from: 0xsergy on June 07, 2012, 16:28
Quote from: Lindsey on June 07, 2012, 04:50
interest farming...no thanks.
You get kicked for inactivity after 5 minutes so there won't be farming. Plus, I'm not talking about some ridiculous amount of interest, just a more reasonable rate(10,000 for having 3.4 million is fair, IMO).
With a small bit of technical knowledge, it is very possible to farm interest...
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COACH
PLANE
HELICOPTER
TOW TRUCK
LIMO
TRASH
ARMORED VAN
BURGLARIES
ARMORED VANS STOLEN
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OVERLOADED
FINES PAID
TOTAL SPENT ON FUEL
INTEREST EARNED
DISTANCE TRAVELLED
TIME IN JAIL
LAST MISSION
Generated using Azure Functions & CloudFlare Workers using the Convoy Trucking API. Updates every around 5 minutes. See the original SVG image. View source code (not updated with function yet)




mick88

So by saying "more reasonable" you suggest that I lower it? I already said that it's already higher in real life, so it's more than "reasonable".

Hobo

Quote from: mick88 on June 08, 2012, 01:41
So by saying "more reasonable" you suggest that I lower it? I already said that it's already higher in real life, so it's more than "reasonable".
You could raise it to 11% per year. That's more reasonable because it doesn't have a decimal xD
But I see no good reason (besides more money) to increase it at all.


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[shadow=black,left]My PC Specs:
-AMD Ryzen 7 2700X
-EVGA RTX 3080
-ASUS Prime X470-Pro Motherboard
-CORSAIR Vengeance RGB PRO 32GB RAM
-ADATA SX8200 NVME SSD 960GB
-Seagate IronWolf Pro 8TB HDD
-Western Digital Blue 2TB HDD
-ADATA Ultimate SU800 2TB SDD x2
-ADATA Ultimate SU800 1TB SSD x2
-Corsair HX750 Professional PSU
-NZXT H440 white/black case
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DJ_Smashon

He wants higher so he can get more money, wich means he is too lazy to work.
A.K.A NaftaTorque
Old ID=9149

0xsergy

Quote from: Joshy on June 08, 2012, 00:31
With a small bit of technical knowledge, it is very possible to farm interest...
Indeed but 99% of people aren't capable of doing this so I was keeping that 1% out of this for now.

Quote from: DJ_Smashon on June 08, 2012, 10:34
He wants higher so he can get more money, wich means he is too lazy to work.
All I've done is work, basically, so don't make false assumptions with no evidence to back them up.

Quote from: mick88 on June 08, 2012, 01:41
So by saying "more reasonable" you suggest that I lower it? I already said that it's already higher in real life, so it's more than "reasonable".

I must ask you where you get your information..? Average interest rate here in Canada hovers in the area of 1%. It varies slightly from bank to bank, from offer to offer, but it generally stays in the same area. I'll link to an example of an bank that's offering a 1.5% interest rate for a limited time but normally has a 1.2% interest rate at $5000.00 or higher.

https://www.cibc.com/ca/chequing-savings/eadvantage-savings-acct.html?WT.mc_id=Savings_campFY12-Savings_kwdsavings||account||interest||rates_adgrpSavings||Account||Interest||Rates-E100

Hobo

Quote from: 0xsergy on June 09, 2012, 02:16

Quote from: mick88 on June 08, 2012, 01:41
So by saying "more reasonable" you suggest that I lower it? I already said that it's already higher in real life, so it's more than "reasonable".

I must ask you where you get your information..? Average interest rate here in Canada hovers in the area of 1%. It varies slightly from bank to bank, from offer to offer, but it generally stays in the same area. I'll link to an example of an bank that's offering a 1.5% interest rate for a limited time but normally has a 1.2% interest rate at $5000.00 or higher.

https://www.cibc.com/ca/chequing-savings/eadvantage-savings-acct.html?WT.mc_id=Savings_campFY12-Savings_kwdsavings||account||interest||rates_adgrpSavings||Account||Interest||Rates-E100

Read:
Quote from: mick88I'm making this topic specifically for those who whine that the bank interest rate is too low or lower in real life. Now, mind that on server the interest is added to your account every 24 in-game hours which is for your benefit as the interest acumulates.

Interest rate in server is 0.0003 per day, that is 0.03% (0.0003 x 100). This means that every 24 in-game hours you receive 0.03% of whatever funds you have on your bannk account. In real life banks tell their interest percentage on a year scale so we need to multiply it by 365 and the result is: 10.92% (0.03% x 365). So 10.92% is the real comparable interest rate. But if you want to get that kind of money you need to play 146 hours, that's how long year is in-game.
Now, if you can show me a bank that guarantees 10% interest rate I will bite my hand off!


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[shadow=black,left]My PC Specs:
-AMD Ryzen 7 2700X
-EVGA RTX 3080
-ASUS Prime X470-Pro Motherboard
-CORSAIR Vengeance RGB PRO 32GB RAM
-ADATA SX8200 NVME SSD 960GB
-Seagate IronWolf Pro 8TB HDD
-Western Digital Blue 2TB HDD
-ADATA Ultimate SU800 2TB SDD x2
-ADATA Ultimate SU800 1TB SSD x2
-Corsair HX750 Professional PSU
-NZXT H440 white/black case
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Deff

Quote from: 0xsergy on June 09, 2012, 02:16
I must ask you where you get your information..? Average interest rate here in Canada hovers in the area of 1%.

in short,

CVT got interest rate 10.92

0xsergy

My mistake, I completely forgot to take into account the time period per payment. :)