Difference between revisions of "Spera Bank Loans and Lending Conditions"
m (→Deductions and Reductions to Interest Rates)
m (Pres.Texas moved page Spera Bank Loans and Lending Conditions to Spera Bank/Loans and Lending Conditions: Re-routing all Spera Pages)
Revision as of 07:34, 18 February 2020
At, we believe in offering fair loans to everyone. We believe that we have achieved this aim with the loans that we offer. It should be noted that the riskier the loan is for us, the higher the interest rate is. Loans are generally given out for between 2 and 12 weeks. Loans above $300m will be done on a case-by-case basis.
It’s important to note that these are guidelines, but not a rule. Loans will be given out (or not given out) at the sole discretion of bank management and these guidelines may not necessarily preclude you from or enable you to receive a loan.
Lending to Individual Nations
Interest Rates are at the discretion of bank management, however, in the vast majority of cases, they will be within the guidelines shown.
|Loan Size||Requirements||Interest Payable|
|$10 million - 30 million||No specific requirements, although the bank may deny your request for any reason.||4.5% to 6.5% weekly|
|$30 million - $50 million||Over 30 Days Old||4% to 6% weekly|
|$50 million - $100 million||Over 60 Days Old||3.5% to 5.5% weekly|
|$100 million to $200 million||Over 100 days old. The bank may request that it is either cosigned by an alliance, or collateral provided||3% to 5% weekly|
|$200 million plus||Over 100 days old and of a top 50 alliance. The bank may request that it is either cosigned by an alliance or collateral provided||2.5% to 4.5%|
Lending to Alliances
Alliance Loans are done on a case-by-case basis. If you are looking for a loan, please get in touch. The interest will never be below 1.5% and never above 5%.
Loans will also usually be in the region of $100 million to $1 billion.
Deductions and Reductions to Interest Rates
We offer the following rate deductions:
- Regular Customer: -0.1%
- Co-signed by a top 30 alliance: -0.1%
- Loan paid within 3 weeks: -0.1%
These deductions are stackable.
We also offer a rewards program - please see the 'Tier' page for more information.
General Loan Terms
- By taking a loan from Spera Bank, you agree to waive your alliance protection and the protection of any organization you might be a part of. We reserve the right to take any action necessary in the event of a default.
- Loanees must stay in our server doing the duration of their loan. Leaving the server, without informing the bank and obtaining approval prior to doing so, before paying back the loan shall be considered a default.
- In the event a borrowing alliance disbands or gets usurped and defaults on their loan, the government and/or the usurper will be held responsible for the outstanding debt.
- Loan installments must be paid on Friday of every week by 23:59 game time. A grace period of 24 hours may be allowed, at the discretion of the bank, however, after that there will be added interest of 1% (compounding) daily. Non-payment for more than 7 days will be considered a default.
- Interest is payable every week. So even, for example, you take out a $100m loan at 4% interest and pay it all back in week one, you should still pay $104m total.
- For additional terms, please review the Spera SOP Regarding Defaulters and Breach of Terms