Bank interest...

[Havanacus]

I've been looking into this and there seems to be a lot of confusion around the bank interest system... I know that interest is defiantly created but the questions we need to spade are how often and how much...

My thoughts are that the system gives out interest every month at very low rates... I base this on the letter I received today informing me of 300 bells being added to my bank while I had over 60,000 already deposited...

Discuss...

 

[Joe]

I didn't know there was interest, Because I never put anything in the bank.

 

[akmaruman09]

lol like every month in my wild world g ame i would have like 3k bells added lol

 

[SpikeHawk]

I didn't know there was interest, Because I never put anything in the bank.

 

[deathparty666]

I had 20,100 in there and got 100 bells of interst, when last time I got 100 bells of interest from only 10,000... its strange.

 

[Amped]

I had 5.5 million, and today, I got 24k added...
:huh:

 

[Erica]

I had 70,00
And I got 410 bells.

 

[Havanacus]

This is interesting, keep the data coming... Working it out in my head, I get different percentages... Why don't we find someone who knows how to do real math rather then my bizzaro method?...

 

[SamXX]

You get 0.5% interest at the end of each month.

 

[akmaruman09]

lol i dont quite understand interest rates (lol i feel 2 smart now! XD)

 

[Akiana]

Hm.
I haven't gotten any interest in my bank at all, and I always keep money in there.
Only in Wild World I received interest.

 

[leelu]

Real banks usually calculate interest based on the average you had in your account over the past month, so even if you have a lot of bells in your account at the end of the month, if you've only had it there a week, you won't get any interest. There has to be money in the account for the whole month, and depending on how much that amount fluctuates, your interest accrued will fluctuate, too. I think that if at any point your account goes to zero, your interest for the month will be zero.

I am not sure of this, but I have not received any interest yet in the game and my account goes from $500k to zero like every week. Also, my theory seemed to stand in Wild World banking.

The best test would be to put only $100k in the bank and don't touch it for the whole month, then see how much in interest you get and calculate the percentage from that.

 

[Havanacus]

I know it wont eliminate your interest if your account falls to zero, but depositing 100k for an entire month is a good first step in determining the interest...

 

[Mickey]

I've heard from somewhere that the interest you collect on a daily basis will eventually be limited to less than 100k Bells or something like that. Would love it if someone could actually confirm this tid-bit.

- Mickey

 

[Erica]

In WW, the most interest you could get was 99,999 bells.

 

[Sai]

I only got a little bit of money after putting 70,000 bells

 

[cody6695]

every month on wild worls they gave me 99K ...... then it crashed.

 

[SockHead]

My 2nd character got 2 Bells of interest. I think he had about 200 Bells in his account.

 

[coffeebean!]

I have no money in the bank, so I don't know. o_o

 

[Tsukareta]

As SAMwich said, you get 0.5% intrest; that's half a percent.

I'm just not sure how long you have to wait before EARNING it...

So it's like this: A = O x 1.005^n

where A is Amount of Money.
O is Original Amount of Money you put in the bank.
n is The no. of 'time periods'.

If it's like SAMwich says and you get intrest once a month:

E.g.: I have 1,000,000 Bells in the bank, and I want to know how much money I'll have after two months:

A = 1,000,000 x 1.005^2
A = 1,010,025

So I would have 1,010,025 Bells after two months. (That's assuming I don't deposit or withdraw any money)