Difference between revisions of "National Neopian Bank"

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m (rewrote intro and signing up section)
m (equations - it's a shame tex isn't on...)
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When a user signs up for a bank account, they are also entitled to the use of a [[Safety Deposit Box]], in which they may store items instead of in their inventory, in order to keep them safe.  
When a user signs up for a bank account, they are also entitled to the use of a [[Safety Deposit Box]], in which they may store items instead of in their inventory, in order to keep them safe.  


Users were able to acquire loans from [http://www.neopets.com/newfeatures/mar2000.phtml 21st March 2000], with repayments begining to be debited from the 23rd March 2000. Loans were removed, as they were being abused by users, on [http://www.neopets.com/newfeatures/may2000.phtml 20th May 2000], and since then National Neopian has not offered any lending facilities - in the form of [[wikipedia:overdrafts|overdrafts]], [[wikipedia:loans|loans]], or [[wikipedia:mortgages|mortgages]] - to users.
Users were able to acquire loans from [http://www.neopets.com/newfeatures/mar2000.phtml 21st March 2000], with repayments begining to be debited from the 23rd March 2000. Loans were removed, as they were being abused by users, on [http://www.neopets.com/newfeatures/may2000.phtml 20th May 2000], and since then National Neopian has not offered any lending facilities - in the form of [[wikipedia:overdrafts|overdrafts]], [[wikipedia:loans|loans]], or [[wikipedia:mortgages|mortgages]] - to users. An [[wikipedia:opt-in|opt-in]] [[wikipedia:PIN|PIN]] system, to protect a user's savings in the event another person accesses their account, was implemented on [http://www.neopets.com/nf.phtml?nf_date=2006-02-06 8th February 2006]. A PIN, [http://www.neopets.com/pin_prefs.phtml once set], gives the user five attempts to enter the correct four digit code when withdrawing Neopoints before the withdraw feature is locked for about an hour.
 
Up to fifteen individual withdrawals may be made per day, after which the bank staff get angry and refuse to serve the user.  


==Signing Up==
==Signing Up==
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Upon signing up, all new applicants receive 30 Neopoints.
Upon signing up, all new applicants receive 30 Neopoints.


==Withdrawing Neopoints==
==Interest==
You are only permitted to remove Neopoints from your bank account 15 times in one day.
Some users have chosen to use the PIN feature in order to protect their Neopoints. If you guess your own Neopets PIN incorrectly 5 times in a row, you will be locked out from typing your pin and/or withdrawing Neopoints for about an hour.


==Collecting Interest==
Annual interest is calculate based on the account balance time the interest rate for the account type. This sum is divide by 365 (rounded up) to give a daily total for how much interest can be collected. Users must actively collect the daily interest manually, by clicking the ''Collect Interest'' button, which adds the interest directly into the account balance. If the user deposits or withdraws NeoPoints before collecting interest, it is forfeit for that day.  
Interest is calculated as a daily distribution, rounded up. However, users must actively collect the daily interest manually.  To do this, a user visits the [http://www.neopets.com/bank.phtml bank] everyday.  Before any transactions are made, the user clicks the ''collect interest'' button, which awards the user their interest for the day. This interest is added to their bank deposit total.  If the user deposits or withdraws NeoPoints before collecting interest, it is forfeit.


==Interest Rates==
Interest is always calculated based on the current balance of a user's account - hence, as more neopoints are added (either deposited or collected as interest) or withdrawn, the amount of interest earned each day also changes.
{|border=1
 
|-style="background:blue"
===Interest Rates===
An interest rate is fixed for an account type. To upgrade an account to an account that pays more (or less) interest, a minimum balance must be reached. However, an account's balance can drop below this minimum amount after the account type is set to it without the account needing to be downgraded.
 
{|
|-style="background:#eeeeee;"
!Account Name !! Minimum Amount<br>of NP !! Interest Rate<br>(per year)
!Account Name !! Minimum Amount<br>of NP !! Interest Rate<br>(per year)
|-
|-
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|}
|}


==Finding Specific Rates==
===Interest Rate Equations===
 
''annual rate of interest'' = (''daily interest'' / ''account balance'') * 365
 
''daily interest'' = (''annual rate of interest'' * ''account balance'') / 365


===Equations===
''account balance'' = (''daily interest'' * 365) / ''annual rate of interest'')
''In the following equations, '''x''' corresponds to the quantity of NeoPoints (NP) in a bank account, '''y''' is NP per day in interest, and '''z''' is interest rate, converted to a decimal.''


*To find Interest rate:  ''y / ( x / 365 )''
This third equation has been used to find out what balance is needed for a certain amount of daily interest, e.g.:
*To find NeoPoints per day in interest: ''( x * z ) / 365''
*To find the quantity of NP required for a certain amount of interest per day at a certain percentage rate: ''( y * 365 ) / z''


This third equation has been used to create the following table which can be used by multiplying the interest a user wants to earn in a day ''(I)'' by the number in the first column that corresponds to their interest rate (APR). e.g.:
:''A user wants to make 1000 neopoints per day in interest with an 11% APR: 3319 * 1000 = 3,319,000 NP.''


''A user wants to make 1000 NeoPoints per day in interest with an 11% APR: 3319 * 1000 = 3,319,000 NP''
:''A user wants to make 1 million NP per day a user would need almost 2,920,000,000 NP at 12.5% APR.''


To make 1 million NP per day a user would need almost 2,920,000,000 NP at 12.5% APR.
The following table can be used by multiplying the interest a user wants to earn in a day by the number in the first column that corresponds to their interest rate (APR).


===Chart===
===Chart===
{|border=1
{|
|-style="background:blue"
|-style="background-color:#eeeeee;"
!1 NP per day interest !! APR
!1 NP per day interest !! APR
|-
|-
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|}
|}


*NOTE: Figures in table above are rounded up, for exacting precision use the third equation above, also note that the bank rounds up (for the purpose of giving NP in interest).
*NOTE: Figures in table above are rounded up, as the bank rounds up (for the purpose of giving NP in interest).


==Safety Deposit Box==
==Safety Deposit Box==

Revision as of 23:03, 1 April 2009

bankmanager.gif

The National Neopian Bank (commonly just The National Neopian), based in Neopia Central, is the only bank in Neopia. A financial institution, the National Neopian can store some or all of a user's Neopoints and keep them safe from random events. The National Neopian provides interest on the funds a user has invested in their account, an annual rate based on the account type (which itself depends on the size of the investment) which must be collected by the user daily.

When a user signs up for a bank account, they are also entitled to the use of a Safety Deposit Box, in which they may store items instead of in their inventory, in order to keep them safe.

Users were able to acquire loans from 21st March 2000, with repayments begining to be debited from the 23rd March 2000. Loans were removed, as they were being abused by users, on 20th May 2000, and since then National Neopian has not offered any lending facilities - in the form of overdrafts, loans, or mortgages - to users. An opt-in PIN system, to protect a user's savings in the event another person accesses their account, was implemented on 8th February 2006. A PIN, once set, gives the user five attempts to enter the correct four digit code when withdrawing Neopoints before the withdraw feature is locked for about an hour.

Up to fifteen individual withdrawals may be made per day, after which the bank staff get angry and refuse to serve the user.

Signing Up

When users initially sign up for a bank account, they are presented with sign-up form asking for the user's name, Neopian address, employment, annual salary, account type and initial deposit. Actual personal information isn't required - the form is for appearances only.

The list of jobs - all alliterative - the form includes is as follows:

The annual salary section includes the following options:

  • 10,000 NP and below
  • 10,000 to 25,000 NP
  • 25,001 to 40,000 NP
  • 40,001 to 60,000 NP
  • 60,001 to 90,000 NP
  • 90,001 to 120,000 NP
  • 120,001 NP and above

Upon signing up, all new applicants receive 30 Neopoints.

Interest

Annual interest is calculate based on the account balance time the interest rate for the account type. This sum is divide by 365 (rounded up) to give a daily total for how much interest can be collected. Users must actively collect the daily interest manually, by clicking the Collect Interest button, which adds the interest directly into the account balance. If the user deposits or withdraws NeoPoints before collecting interest, it is forfeit for that day.

Interest is always calculated based on the current balance of a user's account - hence, as more neopoints are added (either deposited or collected as interest) or withdrawn, the amount of interest earned each day also changes.

Interest Rates

An interest rate is fixed for an account type. To upgrade an account to an account that pays more (or less) interest, a minimum balance must be reached. However, an account's balance can drop below this minimum amount after the account type is set to it without the account needing to be downgraded.

Account Name Minimum Amount
of NP		 Interest Rate
(per year)
Junior Saver 0 NP 4.5 %
Neopian Student 1,000 NP 5.5 %
Bronze Saver 2,500 NP 6.0 %
Silver Saver 5,000 NP 6.5 %
Super Gold Plus 10,000 NP 7.0 %
Platinum Extra 25,000 NP 7.5 %
Double Platinum 50,000 NP 8.0 %
Triple Platinum 75,000 NP 8.5 %
Diamond Deposit 100,000 NP 9.0 %
Diamond Deposit Plus 250,000 NP 9.5 %
Diamond Deposit Gold 500,000 NP 10.0 %
Millionaire Platinum 1,000,000 NP 10.5 %
Millionaire Double Platinum 2,000,000 NP 11.0 %
Millionaire Mega-Platinum 5,000,000 NP 11.5 %
Neopian Mega-Riches 7,500,000 NP 12.0 %
Ultimate Riches! 10,000,000 NP 12.5 %

Interest Rate Equations

annual rate of interest = (daily interest / account balance) * 365

daily interest = (annual rate of interest * account balance) / 365

account balance = (daily interest * 365) / annual rate of interest)

This third equation has been used to find out what balance is needed for a certain amount of daily interest, e.g.:

A user wants to make 1000 neopoints per day in interest with an 11% APR: 3319 * 1000 = 3,319,000 NP.
A user wants to make 1 million NP per day a user would need almost 2,920,000,000 NP at 12.5% APR.

The following table can be used by multiplying the interest a user wants to earn in a day by the number in the first column that corresponds to their interest rate (APR).

Chart

1 NP per day interest APR
8112 4.5%
6637 5.5%
6084 6%
5616 6.5%
5215 7%
4867 7.5%
4563 8%
4295 8.5%
4056 9%
3843 9.5%
3650 10%
3477 10.5%
3319 11%
3174 11.5%
3042 12%
2920 12.5%
  • NOTE: Figures in table above are rounded up, as the bank rounds up (for the purpose of giving NP in interest).

Safety Deposit Box

Added February 29, 2000, the safety deposit box (SDB for short) is a free service provided with an account at the National Neopian. It can store as many items as a user wants. Any items kept in the safety deposit box are safe from the Pant Devil, Sludging etc. It also means users can carry more items by placing items from their inventory into the SDB. Users access the Safety Deposit Box by clicking on the "Shops" task bar button and then on the "safe" image in the toolbar.

You can search by category, by keyword, or both at the same time to narrow down results to find an item. The categories in the safety deposit box are...

  • Album Item
  • Battledome Equipment
  • Books
  • Clothes
  • Codestones
  • Collectible Cards
  • Cures
  • Dubloons
  • Food
  • Gift
  • Grooming
  • Instruments
  • Magic Item
  • Meridell Potion
  • Neocash
  • Neogarden
  • Neohome
  • Paint Brush
  • Petpet
  • Petpetpet
  • School
  • Special
  • Tiki Tack
  • Toys
  • Trading Card
  • Utility Fish
  • World Challenge

Related Avatars

  • Storing 1000 different items in your safety deposit box gives you the Pack Rat Avatar.

See Also

External links

Template:Helony

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