Banking – Four Retail Banks
| Popular Bank | National Bank | Commerce Bank | City Bank | |
| Focus | Support People | Neutral | Support Business | Support Property |
| Bank Account | Free £10/m if under minimum assets | £10/m £15/m if under minimum assets | £100/y £20/m if under minimum assets | £15/m £25/m if under minimum assets |
| Minimum Assets | £500 | £1,000 | £2,000 | £10,000 |
| Overdraft | 1 months salary 19% | 1 months salary 21% | 1 months salary 29% | 1 months salary 24% |
| Loans – Mortgage Must be paid off before retirement | 5% from £300k to £600k 5% deposit, 5 times salary | 5% from £500k 10% deposit, 4.5 times salary | 4% from £300k 20% deposit, 4 times salary | 4% from £300k 2.5% deposit, 6 times salary |
| Loans – Secured (These can be secured on Property, Stocks, Pension Value, Life Insurance) | Good credit 10% int, employed max 2x annual salary Poor credit, 15%, employed, max 3 mths salary | Good credit 12%, employed, max annual salary Poor credit, 18%, employed, max 3 mths salary | Good credit 20% self-employed, max last tax return | 15%, own property, max equity in property. |
| Loans – Unsecured (These can be term with fixed payments or flexible (credit cards) paying off 5% of the outstanding debt per month.) | Term 15%, employed, max 3 mths salary Flexible 17%, £3k (2 term, 1 flexible) | Term 17%, employed, max 2 mths salary Flexible 19%, max £2k (2 term, 1 flexible) | Term 25%, max 3 mths income Flexible 27%, max £6k (3 term, 1 flexible) | Term 20%, employed, max 6 mths salary Flexible 22%, max £10k (3 term, 1 flexible) |
| Saving – Easy Access | 3% 3.5% over £1k-£10k | 2% | 2% | 3% over £1,000 3.5% over £10,000 |
| Saving – 90 days | 3.5% | 3% | 3% | 3.5% |
| Saving – 1 year | 4.5% | 4% over £1,000 | 4% over £1,000 | 4% over £1,000 |
When taking out a loan, the bank can see your entire credit situation and then grants the loan if you are still within their limits. Total secured and unsecured lending can be up to twice the banks limit for this product.
Credit Ratings
- Everyone starts with a normal rating 50%.
- Late payment reduces rating to 5%, default wipes out rating. When debts have been paid off your rating starts again at 20%.
- Taking out a loan and paying it off increases your rating by 10%.
People maximum loan and interest rate is directly affected by your rating. The deposit for a mortgage and interest rate is directly affected by your rating.
Default
Mortgage – The house is repossessed, then auctioned, starting at value of debt. 50% of any money over after the mortgage is repaid is eaten up by fees.
Secured loan – The item is seized and resold to pay off the debt. Auctioned starting 50% of it’s original cost. 50% of any money over after the debt is repaid is eaten up by fees.
Unsecured loan – any assets available can be seized. Cash at bank. Items too can be seized and auctioned for 25% of their original cost. 50% of any money over after the debt is repaid is eaten up by fees.
When a person owes money to a bank, and cannot pay they are bankrupt until their debt is fully paid off. They pay 25% of their salary to the creditor. If they receive any money from a legacy or a gift from another player then it goes to pay off the debt. They cannot take out further loans, and they cannot own a business. The business is auctioned starting at 50% of asset value. Once the debt is repaid, they start again with a credit rating of 20%.
Insurance Services
Personal Items: £5k all-risk, £50,000 contents – costs between £300-£500 per annum
House Insurance: £10k all-risk, £75,000 contents, home, cost between 0.001% of house value
All risk insurance is total claims in one year by all family members (residents). 80% of the original value of the items is paid. Contents insurance is per claim.
Home insurance is replacement value, so building or repair cost. When a building is damaged by fire, flood or natural disaster, it will be a percentage of the base cost of that property type. Each claim adds 25% to all further insurance policies taken out. No claims reduces this addition by 10% per year.
Car Insurance: 2% of original showroom price of the car. 50% extra for drivers < 25. No claims discount of 10% per year. Each claim adds 25% to the cost of next years premium.
Term Life Insurance: age 20-30 £20/m, 30-40, £30/m , 40-50, £40/m, expires on 80th birthday.
- Death before 50 = £100,000
- Death before 60 = £50,000
- Death before 70 = £25,000
- Death before 80 = £10,000
- Death after 80 = £2,000
A 50% discount is available for joint policies, so a couple pays 1.5x the above premiums. They receive the amount shown above when the first person and if they continue to pay the premium they receive the amount shown above when the second person dies.
Life insurance policies can be cashed in and return the lesser of 25% of premiums paid or 10% of the amount insured
Independent Insurance Companies
- Home & Personal Insurance – Total Home
- Car Insurance – Motor Plus
- Life Insurance – Good Life
Banks offer insurance to their own customers. Bank rates are -10% to +10 of premium depending on credit rating.
Independent insurance companies require assets (deposits or property) of at least 25% of outstanding liabilities. If they fall below this they are obliged to re-insure their liabilities.
Banks offer re-insurance services up to 80% of liability to insurance companies with 20% discount on premium price.
Loan Shark
Loans are initially one month’s salary. Interest is 20% per month. Repayments are 10% of outstanding balance. Penalty for non-payment is 100%.
Heavies will turn up and cause injuries (hospital time, 2hrs, 4hrs, 8hrs, 16hrs, death)
Contracts for debt collection are initially offered to criminal gangs, and after 3 hours then appear on the dark web! Fee is 25% of outstanding amount, but you can also steal 3 items from the home.
After you have successfully paid back one loan you can borrow 50% more.