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Thread: Interest Rates Clarification for Banking

  1. #1
    Zash's Avatar
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    Interest Rates Clarification for Banking

    Minimum savings of 1,000 $NetBucks required for 0.10% interest every 30 days. Deposits require pending time of 1 days before interest accrues, or a 5.00% early withdrawal fee applies. Deposits may be moderated. Maximum savings of 10,000 $NetBucks allowed. Transaction fee of 2.00% applies on all transfers.
    Let me get this straight:

    If I deposit 1000 $NB into the bank, then in 1 month, I will get 1 $NB.

    If I withdraw the 1000 $NB before that month is up, then I get 950 $NB.

    If I withdraw the 1000 $NB after that month is up, then I get 981 $NB.

    Hopefully, these rates are only for the BETA NetBuilders store? Because otherwise they are very unreasonable.
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  2. #2
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    Those are the real and final interest rates.

    Netbuilders is not a bank, it's a website, and even if it was we would never be able to offer higher interest rates than those that real banks are offering to you. If you add up you'll have 1.2%+ per year, no bank offers that these days.

    If you're looking for the long term, then you'll have a good chance of getting your money back and even make some profit, now if you're looking for $1000 NB's to magically turn into $2000 NB's, the NB bank is really not the place for you.

    If/When interest rates start to raise in the future it'll be a lot easier for you to get a profit, as we won't be changing fees whatsoever.

  3. #3
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    I look at it this way - the money is free, so why complain?

    You're posting like you normally would, and now getting compensated for it.
    You have the potential to make even more by using the bank, so who cares if it's only a small amount?

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    Quote Originally Posted by Kovich View Post
    I look at it this way - the money is free, so why complain?

    You're posting like you normally would, and now getting compensated for it.
    You have the potential to make even more by using the bank, so who cares if it's only a small amount?
    The $Netbucks are not really compensation but a bonus to you.

    The real compensation is that you make money online through b/s/t and through the knowledge that you gain with your forum membership.

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    Shenron (26 October, 2009)

  6. #5
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    The question really isn't about what the value of $NB are and compensation and what not. It's about the rationality of the bank interest rates. While my real bank's interest rates are not high, I don't lose anything when I withdraw.

    So my question goes down to this: Is there at all any positives towards having the bank if I have to wait 20+ months to just earn 1 $NB?
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  7. #6
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    It's up to the members to decide either way.

    When/If we raise interest rates we'll see how this goes, for now this is how we'll stand.

  8. #7
    Kovich's Avatar
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    Personally, I won't be using the bank. I just don't see the point.

    But other people might. So as Shenron said, it's up to the individual.

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    I don't know why the bank is even enabled to be honest. The transaction rate is what gets me - why charge it?? Any logical person isn't going to invest in the bank with rates like that.


    Interesting how you say no bank will give you more than 1.2% interest (in the US) because here I get about 3% and two years ago I was getting almost 8%. Crazy.
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    Quote Originally Posted by Nathan View Post
    I don't know why the bank is even enabled to be honest. The transaction rate is what gets me - why charge it?? Any logical person isn't going to invest in the bank with rates like that.


    Interesting how you say no bank will give you more than 1.2% interest (in the US) because here I get about 3% and two years ago I was getting almost 8%. Crazy.
    I think even if its not used much, its cool feature and it looks good that we have a bank for storing our money ($Netbucks).

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