Bitcoin Forum

No interest?
No interest is charged for the first week, if you have a gold or platinum account.
This is awesome. Say, you want to get some shares from a IPO, but you don't have BTC now. You transfer it to mtgox, but meanwhile you get a loan. Pay it back, no interest :)
Or maybe if you're an asset issuer and you expect to get returns 1 day after when dividends are due. Instead of delaying dividends and getting user panic, get a loan with no interest!

What are the interest rates?
Depends on the amount you want to borrow and your account type.

Click here to get your rates as well as see verification info (http://glados.cc/rates.html)

How is interest charged?
Interest is charged 7 days after the loan is issued, on your outstanding balance.
If you have a silver account, the rate is charged when the loan is issued too.

If you pay back all the coins before 7 days, you'll pay no interest assuming you have a gold or platinum account.

The more coins you pay, the less interest you'll have to pay.

Min repayment & late fees?
You must pay the minimum repayment each week (defined as periods of 7 days after the loan is issued).
You get a 24 hour grace period after it is due, where no late fees will apply.
If you still don't pay at least the min repayment, you pay 0.1 BTC + 5% of your outstanding balance as late fees for that week.

If you ever are late three times, and we haven't worked something out before, time to post your info on Scammer Accusations.

I'm interested
Cool! Send me a PM with how much coins you want, why you want it, and your current debt if any. I'll contact you with my email address so you can send verification info.

Misrepresentation of your current debt = instant scammer accusations thread.

How do I get gold / platinum?

Gold
Min Interest paid: 2.5 BTC
Min verification points: 5
Perks:
Lower Interest Rates
Higher Max Limit
Pay 0% interest for the first week

Platinum
Min Interest paid: 7 BTC
Min verification points: 7
Perks:
Even lower Interest Rates
Higher Max Limit
Pay 0% interest for the first week
Pay interest only for up to four weeks on a loan

Could you make it more like a credit card and do on-demand loans?

I would likely want to sometimes take out small loans (<5) while I wait for transfers to complete?

Also, can you do an OTC 100+ for another point? 

What do you mean by on demand loans? Like, an API for requesting them?

I'll consider adding OTC 100+ as a point but for small amounts if you have that much OTC then let me know your nick :)

Heh, I will if I need any bitcoins.  

Also, is it 100+ ratings or 100+ total points?  I have 98 actual ratings but 150 points (you should add 150+ too!).

EDIT:
And yeah, I meant an API for small amounts.

Ehh, not worth it for this volume at the moment. 100+ points.