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Interest Rate: Determined by the market
Funny how player loans always get their interest rate set at 1%... Or it was 1% at least, sometime ago. The interest rate is really set by the market, it should range from 1% to 6%. The USA has its interest rate at 5.25! And we are getting less than 1% now!? Here is a feature you could make more realistic and what a lovely compensation it'll be for the financial services.
In my opinion, player loans interest rate should be set the same away than the World Bank.
Oh... and leave the way those are set alone, just in case...
Vote "I agree (...)", if you wish to see player loans with an interest higher than 1%; vote "I disagree (...), if you wish that the loan market remains unaltered.
46 gamers voted for the proposal.
9 gamers voted against the proposal.
The proposal has been ACCEPTED.
In the US it is per real year. In the game it is 1% per game year, which is 4 days (2 days on LU). This amounts to 90% per real year and with the accumulation of 3 payment per day, it us far higher than 100% interest per year. In the US it is as you said: 5.25% per year!!!
This is a problem that must be solved as someone could put some real money into loans in the game, get the high interest rate and convert back to real $ US.
With more real assets and improvements in the convertability of money and more protection for countries and assets, this is becoming realistic. On LU is is more than double that rate.
We should indeed create a money market with interest rates determined by demand and supply and rates per real year of probably 5% to 25% which will translate into game month interest of 0.04% to 0.2%.