BANK ON STEEMIT TERMS OF USE - 21/04/2018
1. SAVINGS TERMS
1.1. We shall transact in only SBD/Steem unless otherwise clearly stated on a contract which shall be published on our steemit blog. All % calculations are made based on the aforementioned currencies.
1.2. At the moment, Bank on Steemit offers 3% weekly interest and/or a 15% monthly interest on any fund saved.
TO SAVE PLEASE CLICK ON THE CONTACT US IMAGE BELOW
2. LOAN TERMS
2.1. Your Steem Power should be up to six (6) times the amount you want to borrow.
2.2. You must be willing to give Bank on Steemit your Steemit Master Key as collateral for the loan and promise not to initiate the stolen account recovery procedure. Master key will be returned upon successful completion of loan.
2.3. If the loan is not repaid as contracted, Bank on Steemit reserves full right of ownership over your account within the period it takes to recover the loan and accrued interest. We shall initiate a power down that shall cover the loan with the pending interest and the interest that accrues as long as the power down process spans. Upon completion of the aforementioned, the Steemit Masterkey shall be mailed back to the owner and full rights of ownership returned.
2.4. In the case were Terms 2.1 and/or Terms 2.2 is not met, a guarantor should be secured. The guarantor must meet the following requirements:
- The guarantor must have reputation of 60 and above.
- The guarantor must earn up to the required loan in a week.
- The guarantor must be part of any global Steem project.
- The guarantor must take the loan in his name; Master Key will not be needed in this case.
- The guarantor at the time of the surety should not have any pending transactions with Bank on Steemit either as a guarantor or a debtor.
2.5. In cases where you are an active steemian and have asteem power of at least two times the figure you want to borrow, Bank On Steemit could still offer you a loan. Please Read Here For Further Details
TO GET A LOAN PLEASE CLICK ON THE CONTACT US IMAGE BELOW
3. DISCLAIMERS
Bank on Steemit shall only contact you via the mail address [email protected]. Do not reply any mail other than this.
Bank on Steemit shall only demand your Steemit Master Key during loans.
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Sustain the Steem Blockchain!
Inculcate in them the discipline of handling funds!
Wow, this bank has a whole 20 SBD in it's account. It is to laugh really.
Edit:
Flagged, I still feel like this bank is a total scam.
haha good bank sir😛 lol!