Overview: In this post, let us look at a conversation between bank manager and customer requesting a loan. The customer is a service class person who wants to take a home loan for which he pays a visit to the bank to enquire about the home loan and gets into a conversation with the bank manager to get a clear picture and a clear understanding of all the home loan procedures.
The customer will be detailed about all the necessary requirements needed to avail of the home loan including the tenure, documents required for the home loan, the Equated Monthly Installment, the Rate of Interest, and many such things!
Conversation between bank manager and customer requesting a loan
Customer: Hello, I have planned to purchase a new house, but I need some help through a bank loan as I am falling short of funds. Does this bank provide home loans?
Bank Manager: Yes sir. We provide home loans. Please do come with me.
Bank Manager: Firstly, congratulations to you sir. You made a good decision to visit the bank as a home loan can come to your rescue in situations like these and our bank will give you a good financial resource.
Customer: That is good to know but what about the repayments?
Bank Manager: Don’t worry, sir, repayments are made easy and comfortable with EMIs.
Customer: Also for my information, may I know who can apply for a home loan?
Bank Manager: Sure, sir. Salaried people, like the ones working in the government or private sectors, can apply for a home loan, then there are professionals like doctors, engineers, architects, and company secretaries who can apply. Also, the ones who are self-employed in business and are filing income tax returns can apply. Lastly, the ones who are 21 years of age and the ones who are not above 60-65 years of age, can apply.
Bank Manager: may I know your profession, sir?
Customer: Yes, I am working as a professor for the past 10 years.
Bank Manager: Alright. That’s good. I will need some documents from your side for the online work.
Customer: May I know what documents will you need?
Bank Manager: I will need your income statements, bank statements, latest income tax returns, identity proof, address proof, and property documents. Do you have all of these?
Customer: Yes, I have all these documents.
Bank Manager: Okay. How much loan amount do you need?
Customer: I need a loan amount of Rs.3,00,000.
Bank Manager: Alright, so for Rs.3,00,000 you will be liable to pay an interest of 6.10% p.a within a ensure of a year.
Customer: Yes, that is fine. Also, may I know when will my home loan EMI be due?
Bank Manager: Yes, do tell the date of a month, and let’s fox that date when your EMI will be deducted from your bank account.
Customer: I would like to fix the 5th of every month.
Bank Manager: Done, sir. You will receive a home loan confirmation email in two days and the amount will be transferred to your account instantly. Here is a copy of your home loan details.
Customer: Okay, thank you so much.
Bank Manager: No problem sir. We are happy to help!
‘EMI’ – EMI stands for Equated Monthly Installments.
‘p.a’ – p.a stands for Per Annum.