Imperial Bank of Austria [IBA] Willkommen in der Reichsbank von Österreich (Welcome to the Imerial Bank of Austria)! We hope to bring another great to EcoCityCraft and our job is to serve you! From Loans to Donations, and much more! All of our service details will be listed below! Founder: Emperor @_Royal_Vulpes_ Bank Provisions and Services- Credit Score Archiving (i) Credit Background Checks (ii) Donations (iii) Loans (iv) Mortgages (v) Lock Boxes (vi) Payment types (vii) [a] – Terms and Conditions To require any of the services provided by the Imperial Bank of Austria, you will be required to fill out an application form, via private messaging on the forums. This thread will not be where you fill out your application. Note that if you have not filed for a credit score, it will take a little longer for your application to be processed, and depending on the funds available, you maybe placed in a wait list and you will be assisted in the time frame I will be messaged. **The application format for any of our services will be given below.** (i) Credit score archiving will be necessary in order to see if a player will qualify for any type of loan. This will be mandatory for anyone wanting to use any of our financial services. The maximum amount of money one requires for a loan will all depend on their credit score. (ii) Credit background checks will always be made on every player applying for a loan or donation feature. Any current or future ECC administrators (mods, super mods, et cetra) will be exempted from background checks due to being trustworthy enough to be a member of the ECC Staff **The application to fill out for a credit score will also be given below.** (iii) Donation feature purchases are one of our few services we provide to any player, who qualifies. Although, depending one's rank or level of trust and background checks, they may be limited on how much they are allowed to spend. First time donators will be required to pay first before receiving their donation feature. We do provide two payment methods, “Pay in Full” and “Payment Plan.” When paying in full our rates are *6.5k/USD, but they this rate only qualifies if one is paying for their donations all at once. When paying on a payment plan, one will be automatically given a loan, and a we can setup a time-frame in which it must be paid by. Our rates are *6k/USD, but since one will be taking a loan automatically to pay off the debt, they will be subject to an *12.5% weekly interest rate. Just as real world loans work. One will be told how much their total will be within the time-frame that is agreed upon. The reason for the interest charge will be the fact this is a risk to my business in-game and to me financially in real life. **Note** At this time, the max amount I will spend on everyone in total will be no higher than $200 each month, unless I am unable to spend any money at all.** *Prices and rates are subject to change due to the economy. (iv) Loans are one of our valued and secured services. We do not hand out loans to anyone who asks, we do require certain standards, we make sure that a background check is made, to see if those who apply for a loan meet a certain standard. This standard is set based on one's credit score, if one has not applied for one, we will base their score on their donation status, and any bans/reports on them. For example if one has been banned or missed a payment on their loan, we will automatically lower their credit score. Initially, those who do not apply for a credit score, will automatically have a high score, and depending on the financial troubles they have put themselves in, we will adjust it, and this will effect their the max amount of money we would be able to loan to them, due to their score. Our interest rates will all be based on the amount they need, the time it will take, and how often payments will be made. We will have to make an agreement on the amount of time it will take to pay off the loan, and how often payments will be made. We also will have to apply APR charges if the pay increments are not met. Those rates will be a standard 25% of what the increments will be. For example one takes a $750,000, and has 5 weeks to pay it off, the interest would be (for example) 12%, the total would be $840,000, the weekly payments would be $168,000, if one weekly payment is not paid on time, the APR charge, plus the weekly payment would be $210,000(168,000+$42,000). We will extend the final payment time by 3 days, but passed that, another APR charge would be added on. If a loan can be completed within a week, there will be no APR charges if payments are not made every day in that week, we will only add the APR charge if it goes beyond our 3 day grace period. [a]When filling out the application for a loan, there will be terms aside from a due date and late fees. Our bank will be requiring you to set some of your personal and valuable assets as collateral if you fail to pay the loan in the set amount of time and beyond the late fee charges, but you must have an equal value of assets as what you requested in the loan. For an example, one applies for a $300,000 loan, plus interest, he must have set aside $300,000(including interest) worth of personal valuables for collateral if he does not pay off the loan on time or refuses. Banks do these kind of terms for loans or mortgages. Towns, star tools, minerals, plots, or anything that has significant value—these are what we require from you when applying for a loan, but these terms will only apply under certain deemed worthy by IBA. (v) A mortgage is a form of a loan that one takes out from the bank to pay for homes, land, and businesses, but they must pay off in a set amount of time, and if any payments are not met after a certain length of time, the bank will have the right to confiscate the land or confiscate any valuable items that may be within the land, home, or business. With the Imperial Bank of Austria, we are going to provide mortgages for those who wish to buy, plots, homes, or towns. Our interest rates will range from 3.75-5%, but we will be adding APR charges as well, if the payments are not met in those increments, and those rates will range from 4-5.5%. If no payments will be met, and upon the contract you sign and agree upon, we will have the full right to confiscate Each variant of interest rates will vary depending on the length of time it will take to pay off the mortgage. [a]When filling out the application for a loan, there will be terms aside from a due date and late fees. Our bank will be requiring you to set some of your personal and valuable assets as collateral if you fail to pay the loan in the set amount of time and beyond the late fee charges. These terms will only apply under certain deemed worthy by IBA(see details in the terms and conditions listed under section 3). (vi) Lock boxes are other services that our bank will provide to you. Our lock boxes are like security deposit boxes, they will be 1x1 chest or 1x2 chest for your personal valuables to be stored. Each chest will be locked by our company and you will be added to the locks. We will not hold any prejudice against what you place in the chest for safekeeping. You are guaranteed that your products are safe and secured in our lock boxes. The rates are as followed: 1 1x1 chest weekly rent is $400/week; and 1 1x2 chest weekly rent is $700/week. One may cancel at anytime, but there are no refunds, and if he cancels before his time is up there is a 10% cancellation fee charge on the longevity of the rental. There will be a 2-day grace period to remove one's items from the chest(s). The application format will be given below. [a]When applying for a lock box, you will agree to the terms and conditions for the rent of our lock boxes. The terms and conditions are that you must intend to pay the full rental period at when you apply. You will not be refunded if you change your mind. If you cancel, you will have to pay a 10% cancellation fee of the rental period (like 4 weeks for a 1x1, the charge would be $160). Finally, if you have not renewed your rental time, you will have 2 days to empty your chest or an LWC removal will be filed and your items will be taken and held in another storage area in the bank, that one must pay $50 for each slot the items occupy. (vii) Our bank wants to be fair to you, so to insure that, we have two forms of payment! Our two forms of payments for most of our services will be EcoDollars and bullion. EcoDollars will be our primary payment method and will be the majority of what you will pay in for our services. Bullion—The first thing that comes to mind to investors is gold, and they are partly right when I speak of bullion. Our form of bullion will be consistent of diamonds, gold ingots, iron ingots, emeralds, and nether stars. Now when paying in bullion, unfortunately, you cannot pay your whole service in bullion, and you can only choose up to two different bullion. The following is item and the worth to our bank: diamond[$20ea], gold ingots[$7.50ea], iron ingots[$5ea], emeralds [$25ea], and nether stars [$500ea].**Note that the prices of the bullion will be subject to change depending on the economy. More than likely interest is what can be paid with bullion, but depending on the size of the interest, a portion of it would only be able to be paid off in bullion.** Application Formats-- ***NOTE***You must fill this application out in a pm forum message, do not reply on the thread for your application! Donation Features-- What is your In-game name?: What donation feature are you requesting and the price of the feature?: What form of payment are we using?(payment plan with bullion part of payment; or one full payment with the ability to pay partly in bullion): Do you understand when applying for any of our services, and depending on how many people apply, you will have to wait in the order your application was received?: Loan-- What is your In-game name?: What is your current rank(depending on our credit score, rank, or donation status, you may be limited to the amount you can take out)?: Do you have any pending loans or debts at the moment?: How much are you requesting for the loan?: Did you want to pay your loan off partly in bullion?: How long will it take you to pay off your loan(including interest)?: What is your reason for requesting a loan?: Do you agree to our terms and conditions of our services?: Do you understand when applying for a loan, we will have to have a contract made and approved, and no one will be exempt from having a contract filled out for a loan, no matter the price?: Finally, do you understand that depending on how many people apply for a loan, and depending on how much funds we have, you may have to be put on a waitlist in the order your loan was received?: Lock Boxes-- What type of lock box are you applying for(1x2 or 1x1)?: How many weeks are you applying for(max amount of time is 10 weeks at a time)?: Are you going to be sharing this lock box? If not, how many others will you need to be added?: Do you understand the terms and conditions to the rental of our lock boxes?: Do you understand when applying for any of our services, and depending on how many people apply, you will have to wait in the order your application was received?:
***ATTENTION*** Regarding Donations Donation Funds for January are taken. You may apply via pm Forums for February. Note you will be added to a queue at the time your message was received!
***Donator Feature Update*** February's rates have been raised to 7.5kUSD for "Pay-in-Full" and 7k/USD for "Payment Plan" with a 12.5% interest rate! March Donator Feature Pre-orders are available! (Current funds for March is $200USD, but will change upon requests!)
***Donator Feature Update*** March Donator Feature Pre-orders are still available! (Current funds for March is approximately 150USD, but will change upon requests!)
***Donator Feature Update*** March Donator feature purchase will not be taking place, and the funds have been lowered to $80/month. The reason being is that I am having to set aside money for airfare to go to college, and to meet a very special vixen who has stolen the heart of this fox emperor. I will post further updates regarding the bank in the future.
***Donation Feature Update*** April donation features are now available to purchase through IBA! ***Bank Update*** Interest rates and APR charges will be changing. More information will be posted soon.
The Imperial Bank of Austria has merged with the National Bank of Aurora to form the Austro-Aurora United Bank. Would a mod be able to lock this thread please?
