[GUIDE] ArgoBank Savings Account and Interest

[Vaeldious]

Now Offering:

Feature: Interest Payments On ArgoBank Savings Accounts

Location: All ArgoBank Locations

Opening an Account

• You must be a Citizen to open a Savings Account inside any of our Locations with /cash. A Teller will assist you.

Interest Yield

• Interest is paid at a rate of 0.7%
  NOTE: To calculate, you multiply the amount times .007
• Interest is paid at 11:59PM CET (/time) on Sunday nights.
• Interest is only paid for the LOWEST amount from the previous week in savings.
  If you deposit $100,000 then later in the week $20,000, you will only receive interest on the $100,000
• Maximum savings yield is on 1,000,000. Anything beyond that does not receive interest.

For Example:
Amount x 0.007

• For every $1,000 you keep in, you earn $7 a week for doing nothing!
• If you put in $1,000,000, you can earn up to $7,000 per week!

ArgoBank Locations:

• Los Santos: 2 Blocks East of Pershing Square
• San Fierro: Esplande East
• Las Venturas: Across the Street from LVPD
• Palomino Creek: East of Gas Station #12
• Fort Carson: Main Street

Prev update: [June 10th, 2016] :: [Yield Limit]

Last update: [Feb 6th, 2018] :: [Added Example]

Note: Interested per week is currently NOT enabled.

[[Rstar]Razor]

Thank you so much for this, very helpful!  I've been looking for info on this 

[Trevor.]

Thanks V!

[Vaeldious]

No problem. It's a great way to offset paying property taxes, since the equation is the same. The difference is property tax is monthly, and interest is weekly.

[Stivi]

No problem. It's a great way to offset paying property taxes, since the equation is the same. The difference is property tax is monthly, and interest is weekly.

Provided you actually have the value of the property in the bank already :P

[Vaeldious]

Provided you actually have the value of the property in the bank already :P

I'm not a rock scientist, but there is more than 1 week in a month

You would only need 25% of all your properties values in savings to effectively generate enough interest to to pay your property tax.

[Teddy]

I'm not a rock scientist

I think you mean rocket scientist, a rock scientist is a geologist. A rocket scientist would not have mixed them up.

[Vaeldious]

I think you mean rocket scientist, a rock scientist is a geologist. A rocket scientist would not have mixed them up.

Didn't mix them up, and yeah, that's the pun. Just like saying "Sharpest knife in the cookie jar."

[FARQ3X]

Just so you know, according to Marcel the maximum interest you will receive is at 1m as any more that that doesn't count

[Khm]

I don't get this, you get money for having less than 1m in savings or you will pay interest like "renting account" to hide your money in?

[Mark]

I don't get this, you get money for having less than 1m in savings or you will pay interest like "renting account" to hide your money in?

you get money

[Khm]

you get money

Min 1m or max?

[Mark]

Min 1m or max?

Maximum savings yield is on 1,000,000. Anything beyond that does not receive interest.

1M is the max you should deposit since you won't get more cash above that.