From now on you are granted a loan independent of the profit/loss of the last 12 months.
The maximum loan is 40% of your company value and limited to 5 million.
Interest now applies per month.
System of bank was changed
- stdok
- Geschlossen
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From a financial point of view, a monthly interest this high is impossible. To cover the interest costs and just break even on the loan, you need to have a return rate the same as the interest rate. With an interest as high as 21%, it is just not feasible at all. One would be paying back like 2.5 times the loan amount by the end of one year. The interest is now like a penalty on players and the loan would not be worth it under any circumstances.
With the 21% monthly interest, it means you have to come up with more than the amount you have loaned within 5 months to pay the capitla payment and the interest. If one could come up with that kind of money, why would one take a loan???? This is ridiculous!!!!!!
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agree with this. In the German forum they already found out, that is why the bank is closed at the moment.
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Official translation of stdok's post in the german forum:
The bank has been closed yesterday evening.
After the last loans were repaid I also removed the menu item.There will be no new bank feature in the near future.
stdok