Loans Questions&Answers

[Captain Jack]

If you have any questions, ask here. First topic will be updated to include all the answers.

-Loans are placed on client's account at the bank.
-Loans can exceed account limit.
-Max loan limit: Account limit + 17.5M
-There is a limit of the number of loans athat can be agreed with a single bank: 3 active/served loans in 30 days per client
-A bank may issue as many as it wants but the client may choose up to the above limit.

-Loan interest is calculated daily,during the daily update.
-Loan installments recalculate during daily update,if need be (ie, you have paid more than your usual installment).
-The bank minimum profit exists to ensure the banker's profit (ie, for the case someone decides to fully pay up the loan in the same day)

-Loan officially starts when the client accepts the contract.
-It plays no role when the client withdraws the amount, the contract assumes the amount is given in full upon acceptance.

[Adama]

How do you become a Banker?

[Most Lee Harmless]

click on 'Hideout' link : click on buildings : build a mansion : when done, then build a bank : on completion of the build : congratulations! : you are now a banker!

[Roberts]

That was daniks explanation for dummies Joke mate...

[Adama]

I some how managed to miss the Hideout tab lol thanks - _-

[Mr. Rothschild]

When you set loan payments to automatic, does this remove gold from ones treasury or their bank account with the Bank that gave them the loan?

[Captain Jack]

All loan payments are directly from player treasury. Both manual and automatic. We could throw accounts into the mixture - we will check this possibility and decide.

The same limit with Tax Debt to nation is used when deciding if it will pay up or not. Right now this is set for everyone at 100k. Soon, you will be able to tweak it to the amount you prefer.

[Lod]

I just granted a loan but no money was drawn from the bank and added to the customers account even after he accepted the terms. Is this the way it's supposed to work, do I have to manually pay out the amount lended to the customers account? This sounds akward if so as it might take some time between the terms are accepted and the banker comes online to transfer the money. A lender might be in urgent need of cash.

More questions. Is there any way to force a customer to pay, should he not continue play or for some reason neglect/refuse to pay?

Is it possible to lend money from every bank available and then run off with the gold, without paying back ? I guess we need to be able to see what other loans the applicant already might have.

[Most Lee Harmless]

My trial runs worked except in one case : when the loanee was at another bank and didnt have room in their account for the loan : methinks the limit + 17.5mil for loans might not work outside the issuing bank?

Also, the person taking the loan has to accept it as well : apply : bank gives terms : person accepts terms > money flies : seems to be the routine

And it would be useful to have some kind of credit history for applicants :

[Black sparrow]

Great feature, thanks