englishpod_0165dg

Elementary ‐ Daily Life ‐ Asking For A Loan
(C0165)
B: Hello Sir may I help you?
A: Yes. I would like some information for requesting a
loan.
B: Very well, here arethe general termsof our loan policies.
We pride ourselves in having the lowest interest rate inthe
country for personal loans.
A: I see. So let me get this straight. If I borrow let’s say,
ten thousand dollars, how much will I have to pay each
month?
B: It depends on how long you take to pay it back. If we
lend you ten thousand dollars at an annual interest rate of
ten percent for forty eight months, you would have to pay
each month a portion ofthe loan which is called the
principal and another small portion ofthe annual interest
rate. This of course is considering that you don’t default on
a payment!
A: It sounds good but, there is just one problem. I have a
terrible credit score.
B: That is a very serious problem you see, the bank must
assess your personal information, past loans, assets and
any other relevant information such as your credit scorein
order to approve your loan.
A: You know what? I don’t really need the money. Thanks
anyways!