National Neopian Bank
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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. the Bank manager is the only employee seen.
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.
The National Neopian is featured in the game Trouble at the National Neopian.
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, account type and initial deposit.
Upon signing up, all new applicants receive 2,500 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current balance of a user's account - hence, as more neopoints are added (either deposited or collected as interest) or withdrawn, the amount of interest earned each day also changes.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 | 120.5 % |
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).
| 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% |
Figures in table above are rounded up, as the bank rounds up (for the purpose of giving NP in interest).
Trivia
- For April Fools' Day 2009, the bank lampooned the real-world credit crunch by saying that they were cutting interest rates, while claiming it had nothing to do with the economic situation and encouraging users to "bank with confidence". The Skeith bank manager was shown wearing a barrel, rather than his usual suit. Each listed interest rate went down by one percentage point, but the actual payout remained the same.
External links
- The National Neopian Bank
- Neopedia: National Neopian Bank
- Neopets TCG: Safety Deposit Box
- Caption Competition: #388, #579, #672
- Help File: What do the jobs at the bank mean?, What does the bank do?
- Editorial: 3, 7, 9, 12, 26, 27, 31, 34, 36, 40, 41, 45, 55, 59, 61, 64, 67, 69, 70, 85, 99, 102, 103, 104, 115, 116, 130, 133, 138, 141, 147, 176, 192, 194, 195, 197, 205, 211, 219, 227, 229, 230, 235, 240, 244, 245, 247, 248, 258, 388