Current Detailed Bank Interest Info | Tutorials & Guides | TORN

Forums

Back to Forum
  • Forum Main Main
  • Tutorials & Guides T&G
  • Current Detailed Bank Interest Info Thread

Current Detailed Bank Interest Info

​

  •  
    • IVLIVS_CAESAR [93400]
    • Role: Civilian
    • Level: 66
    • Posts: 124
    • Karma: 68
    • Last Action: 1 year
      • 1
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Thread created on 08:53:18 - 21/06/16 (10 years ago)
    |
    Last replied 03:41:23 - 26/04/26 (6 months ago)
    I thought this might be useful to some of those who don't have many merits yet and may still be debating on what merits to get.




    Personal Perks



    Stock: + Bank Interest Rate (TCB) (+10% Accordingto wiki so if interest is 1.00 without it will be 1.10 with 5.00 without 5.50 with and so on)

    Merit: + Bank Interest Rate 10/10


    Base Interest Rate: 19.6% APR



    0 Merits 5 Merits



    1wk .39% 1wk 0.94%
    2wk .89% 2wk 2.15%
    1m 1.93% 1m 4.68%
    2m 4.24% 2m 10.29%
    3m 6.16% 3m 14.96%



    1 Merit 6 Merits



    1wk 0.5% 1wk 1.05%
    2wk 1.14% 2wk 2.4%
    1m 2.48% 1m 5.23%
    2m 5.45% 2m 11.5%
    3m 7.92% 3m 16.72%



    2 Merits 7 Merits



    1wk 0.61% 1wk 1.16%
    2wk 1.39% 2wk 2.66%
    1m 3.03% 1m 5.78%
    2m 6.66% 2m 12.71%
    3m 9.68% 3m 18.48%



    3 Merits 8 Merits



    1wk 0.72% 1wk 1.27%
    2wk 1.64% 2wk 2.91%
    1m 3.58% 1m 6.33%
    2m 7.87% 2m 13.92%
    3m 11.44% 3m 20.24%



    4 Merits 9 Merits



    1wk 0.83% 1wk 1.38%
    2wk 1.9% 2wk 3.16%
    1m 4.13% 1m 6.88%
    2m 9.08% 2m 15.13%
    3m 13.2% 3m 22%



    5 Merits 10 Merits



    1wk 0.94% 1wk 1.49%
    2wk 2.15% 2wk 3.42%
    1m 4.68% 1m 7.43%
    2m 10.29% 2m 16.34%
    3m 14.96% 3m 23.76%
    Last edited by IVLIVS_CAESAR on 08:54:22 - 21/06/16 (10 years ago)
  •  
    • Call_Saul [1597718]
    • Role: Civilian
    • Level: 15
    • Posts: 14
    • Karma: 5
    • Last Action: 4 years
      • 2
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 15:17:00 - 21/06/16 (10 years ago)
    Post link copied to clipboard Copy post link
    Maxed Bank Interest merit for me with no TCB shares is: 1.35% a week, 3.11% 2 weeks, 6,75% 1 month, 14,85% 2 months, 21,6% 3 months.

    So your income would be roughly this depending on which period you invest in if you invest 2 billion dollars.
    (Numbers are based on the flat interest percentage no APR included)

    2.000.000.000,00Interest Income
    1,35%27.000.000,00
    3,11%62.200.000,00
    6,75%135.000.000,00
    14,85%297.000.000,00
    21,60%432.000.000,00

    At these rates the most profitable investment is for 2 months, as you can have 6 investments per year which equals to roughly $1.782.000.000,00. While the second best investment is for 3 months, 4 investments per year which is roughly $1.728.000.000,00.
    If you work in an oil rig which grants 50% max investment in the TCB then your numbers would be higher, but best investment would still be for 2 months even with TCB benefit shares, as you would get over $60 million more, if you invested 2 months instead of 3 months for a year.

    Well just some numbers and tables here, cause everyone loves those right?
  • Bird
    • Winged_Cougar [1993598]
    • Role: Civilian
    • Level: 100
    • Posts: 2,416
    • Karma: 3,048
    • Last Action: 1 hour
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 00:19:11 - 06/07/16 (10 years ago)
    Post link copied to clipboard Copy post link
    Has anyone done any maths on if/when the 3 month investment becomes a better option if you can expend job points to decrease the time?

    Is there a limit on how many job points you can expend at once to decrease the time?
    Last edited by Winged_Cougar on 00:45:24 - 06/07/16 (10 years ago)
  • |X|
    • Tempest [1867527]
    • Role: Wiki Contributor
    • Level: 100
    • Posts: 7,189
    • Karma: 9,792
    • Last Action: 1 minute
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 06:22:00 - 06/07/16 (10 years ago)
    Post link copied to clipboard Copy post link

    Winged_Cougar [1993598]

    Has anyone done any maths on if/when the 3 month investment becomes a better option if you can expend job points to decrease the time? Is there a limit on how many job points you can expend at once to decrease the time?
    2 months will always be better in my opinion.
  • Bird
    • Winged_Cougar [1993598]
    • Role: Civilian
    • Level: 100
    • Posts: 2,416
    • Karma: 3,048
    • Last Action: 1 hour
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 18:02:08 - 06/07/16 (10 years ago)
    Post link copied to clipboard Copy post link
    I'm not trying to be offensive, but your opinion isn't what matters here... As a simple example, leaving math out of it, if you took a 3 month sabbatical from Torn, it would always be a better option to invest in the three month option. You'll end up with more money when you come back, because the 2 month alternative leaves your money literally doing nothing for an entire month.

    I was just running the numbers though, and rate for the 2 month investment, converted to a 3 month equivalent, even leaving out compounded interest, makes the 2 month investment a better deal even when spending job points.
  • [ÐA]
    • Moguai [423015]
    • Role: Civilian
    • Level: 100
    • Posts: 14,569
    • Karma: 1,992
    • Last Action: 5 hours
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 18:35:11 - 24/10/16 (10 years ago)
    Post link copied to clipboard Copy post link
    The annual interest is constantly changing, are you updating the OP on a frequent basis to keep up to date with the fluctuations?
  • VICE
    • Wollongong [12833]
    • Role: Civilian
    • Level: 100
    • Posts: 13,839
    • Karma: 17,801
    • Last Action: 13 minutes
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 19:21:03 - 24/10/16 (10 years ago)
    Post link copied to clipboard Copy post link
    No, he isnt

    8fb0af51-dbaa-8cb0-12833.jpg?v=1040063

  • [X]
    • Noah [1309544]
    • Role: Civilian
    • Level: 100
    • Posts: 828
    • Karma: 324
    • Last Action: 2 hours
      • 4
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 03:34:57 - 25/10/16 (10 years ago)
    Post link copied to clipboard Copy post link

    Winged_Cougar [1993598]

    I'm not trying to be offensive, but your opinion isn't what matters here... As a simple example, leaving math out of it, if you took a 3 month sabbatical from Torn, it would always be a better option to invest in the three month option. You'll end up with more money when you come back, because the 2 month alternative leaves your money literally doing nothing for an entire month. I was just running the numbers though, and rate for the 2 month investment, converted to a 3 month equivalent, even leaving out compounded interest, makes the 2 month investment a better deal even when spending job points.
    What the hell are you trying to say? too much babbling. Just point out your point.

    GG photobucket

  • Bird
    • Winged_Cougar [1993598]
    • Role: Civilian
    • Level: 100
    • Posts: 2,416
    • Karma: 3,048
    • Last Action: 1 hour
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 00:43:46 - 26/10/16 (10 years ago)
    Post link copied to clipboard Copy post link

    Winged_Cougar [1993598]

    I'm not trying to be offensive, but your opinion isn't what matters here... As a simple example, leaving math out of it, if you took a 3 month sabbatical from Torn, it would always be a better option to invest in the three month option. You'll end up with more money when you come back, because the 2 month alternative leaves your money literally doing nothing for an entire month. I was just running the numbers though, and rate for the 2 month investment, converted to a 3 month equivalent, even leaving out compounded interest, makes the 2 month investment a better deal even when spending job points.

    Noah [1309544]

    What the hell are you trying to say? too much babbling. Just point out your point.
    Unfortunately, when you're talking about finance, there is no TL;DR.

    I'm talking about equivalent interest rates. Any given interest rate is always paired with a time period over which the rate applies. To get an equivalent rate for a different time period, you have to do some multiplication and/or division. In example:

    20% interest per annum(also referred to as Annual Percentage Rate) converted to a monthly rate would be 20% divided by 12(because there are 12 months in a year), so it would look like this:
    20% = .2
    .2 / 12 = .016*
    .016* = ~1.67%
    Note: * is a repeating decimal.

    So, the monthly equivalent rate for a 20% APR would be approximately 1.67%

    To convert from a 2 month rate to a 3 month rate, you just multiply the 2 month rate by 1.5, or to go in the reverse direction, divide by 1.5(yes, divide by 1.5; not multiply by .67).

    Using the numbers above as an example:

    2 month: 14.85%
    3 month: 21.6%

    14.85% = .1485
    .1485 * 1.5 = .22275
    .22275 = ~22.28%

    21.6% = .216
    .216 / 1.5 = .144
    .144 = 14.4%

    So, the 3 month equivalent for the 2 month rate of 14.85% is 22.28%, but the 2 month equivalent of the 3 month rate of 21.6% is only 14.4%.

    This gets a bit messier when you introduce compounding, and in fact, after running a lot more numbers, I discovered that occasionally, if your account balance is *not* maxxed out(meaning you're compounding, or adding your interest back to the balance every time the account matures), *and* you have all 10 merits, plus the TCIB benefit block, the best investment option is the 2 week option, albeit by a marginal .01%. Basically, this means you can reach cap faster if you have all possible rate boosts by investing at the 2 week level rather than the 2 month level. In all other circumstances I tested, the 2 month option was best.

    Edit: Banking was changed something like a year ago. You can now see the APR on each column of the banking page, and you should always pick the column with the highest APR, unless you plan to take a sabbatical from Torn. In that one case, it makes the most sense to pick the investment option that is longer than your sabbatical which has the highest available rate. So if the highest rate is the two week option, but you're taking a three month sabbatical, you're probably still better off with the three month option. This greatly simplifies banking for active players. Just always pick the column with the highest APR.
    Last edited by Winged_Cougar on 23:53:49 - 20/02/20 (6 years ago)
  • GOD
    • evil_inside1332 [1899761]
    • Role: Civilian
    • Level: 100
    • Posts: 2,361
    • Karma: 967
    • Last Action: 1 year
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 03:36:07 - 26/10/16 (10 years ago)
    Post link copied to clipboard Copy post link

    Moguai [423015]

    The annual interest is constantly changing, are you updating the OP on a frequent basis to keep up to date with the fluctuations?
    it doesn't really matter much if he updates it, the multipliers on all periods are scaled proportionally when it changes. what matters is that the two month period has the biggest multiplier (the multiplier for all periods, except 2 week remains exactly the same - the one week multiplier has some minor, but insignificant fluctuations), and will yield the biggest returns once you have the 2 billion to invest. 2 week is best if you don't have the 2 billion and need to compound. the multiplier is the value which is multiplied by the base APR (scaled down to the investment period) to give you the interest amount for the period.

    eg. (real values used):

    04/09/2016 - Base APR 20.16%
    1 week = 0.36% = (365/7*0.0036)/20.16 = 0.9311224
    2 week = 0.83% = (365/14*0.0083)/20.16 = 1.0733773
    1 month = 1.80% = (365/31*0.018)/20.16 = 1.0512673
    2 month = 3.96% = (365/62*0.0396)/20.16 = 1.1563940
    3 month = 5.76% = (365/93*0.0576)/20.16 = 1.1213518

    11/09/2016 - Base APR 24.64%
    1 week = 0.44% = (365/7*0.0044)/20.16 = 0.9311224
    2 week = 1.01% = (365/14*0.0101)/20.16 = 1.0686746
    1 month = 2.20% = (365/31*0.0202)/20.16 = 1.0512673
    2 month = 4.84% = (365/62*0.0484)/20.16 = 1.1563940
    3 month = 7.04% = (365/93*0.0704)/20.16 = 1.1213518

    happy banking!

    30ca8d27-7fe7-44a7-b183-ebb5372df69e-1899761.png?v=1040063

  • Bird
    • Winged_Cougar [1993598]
    • Role: Civilian
    • Level: 100
    • Posts: 2,416
    • Karma: 3,048
    • Last Action: 1 hour
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 19:18:24 - 26/10/16 (10 years ago)
    Post link copied to clipboard Copy post link
    Took me a minute to understand what you were getting at there. I was previously aware that the Torn City bank doesn't simply convert the "base interest rate" into equivalent rates(I still wonder why), but I wasn't really sure how to go about determining exactly what the number was they were using(the multiplier), for the sake of comparison when the rates change.

    Thanks for the concise explanation of the multiplier and how to determine it!
  • Bird
    • Winged_Cougar [1993598]
    • Role: Civilian
    • Level: 100
    • Posts: 2,416
    • Karma: 3,048
    • Last Action: 1 hour
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 23:45:00 - 20/02/20 (6 years ago)
    Post link copied to clipboard Copy post link
    Just plugging this again because: Someone "liked" the post again, but the way banking works has been changed. I'll update the first post soon.

    Edit: I'm an idiot, this isn't even my thread... lol

    I'll update my post anyway.
    Last edited by Winged_Cougar on 23:48:00 - 20/02/20 (6 years ago)
  • INV
    • Nahid_BD [1726522]
    • Role: Civilian
    • Level: 45
    • Posts: 15
    • Karma: 0
    • Last Action: 4 minutes
      • 0
    • Reason:
      Are you sure you want to report this post to staff?
      Cancel
    Posted on 03:41:23 - 26/04/26 (6 months ago)
    Post link copied to clipboard Copy post link

    you need to update the stat bro!!!

Reply
Thread Title: