Practice English Speaking&Listening with: #102 Going to the bank - Banking and money vocabulary in English (rep)- ESL
welcome to speak English now podcast
with your host Georgiana the podcast
that will help you to speak English
fluently with no grammar and no
textbooks hi everybody I'm Georgiana
your online English teacher my mission
is to help you to speak English fluently
speaking English is way easier when you
use the right material and techniques in
the first part of this episode I'm gonna
talk about lending and borrowing
something and how to get a loan from the
bank and in the second part you'll
practice your spoken English with a
question-and-answer mini story alright
let's get started today I'd like to talk
about loans and the related vocabulary
loans have always been a feature in all
countries societies and cultures person
a has some money and person B needs
money then person a can lend money to
person B when we talk about lending we
don't talk about giving givin means
permanently without a time limit without
a time limit for example if I say I'll
give you the car it means that the car
won't be mine anymore it'll be yours
when someone gives a loan it's under
certain conditions that is he agrees to
give money under certain conditions you
can say give a loan or more formally
ground alone logically a bank lends
money you go to a bank office and ask
for a loan then the
Bank will consider whether or not to
give you the loan it depends on your
salary your situation whether you have
more loans etc if the bank agrees to
grant you the loan you receive the money
you asked for but beware you have to
return the money in the future and when
do you have to return it you have to pay
it back within the time the bank tells
you to a deadline means a time limited
by date for example you have until
Friday to return the money by the way
you don't just pay back the money you
borrow you give more money back the
extra money is the interest for example
if you ask for $1,000 the interest may
be 5% per year well you have to pay
$1,000 plus $50 which is 5% of $1,000
that's how banks do business by lending
money from others and charging interest
for it I wanted to make one thing clear
before we continue with the lesson when
we leave money or any object to someone
for a limited time we use the word land
but when someone leaves us something
temporarily we use the word borrow
examples
I never lend my books to anyone I lent
John $50 I expect that John will return
the money could I borrow your book for a
minute please
Mary used to borrow money from her
parents all the time there's another
word in
this context insolvent the person who
becomes insolvent means that they don't
have money to pay solvency is the
ability to pay insolvency is the
inability to pay these are five of the
largest banks in the u.s. in case you
want to apply for a loan JPMorgan Chase
Bank of America Wells Fargo Citigroup
and Goldman Sachs group well as always
don't memorize expressions about loans
listen to the episode as many times as
you need
great now you can practice with a mini
story you'll be able to go over the
vocabulary we saw in the first section a
mini story is very simple I give you
information using phrases and then I ask
you questions I recommend that you
listen several times until it's easy to
answer just relax and enjoy let's start
Henry applies for a ten million dollar
loan from money money bank does Henry
apply for a loan yes Henry
applies for a ten million dollar loan
who's applying for a loan the bank no no
the bank doesn't apply for loans the
bank grants loans
Henry applies for a ten million dollar
loan hammer
money is Henry asking for ten million
dollar loan he asks for a loan of ten
million dollars which bank is Henry
requesting the money from at the money
money bank he requests for the money in
that Bank
how much is the loan it's ten million
dollars the loan is ten million dollars
the bank examines his application and
grants him the loan at ten percent
interest does the bank examine his
request yes the bank examines his
request does the bank run the loan to
Henry yes the bank
grunts the loan to Henry does the bank
run the loan at eight percent interest
no no the bank doesn't grant the loan at
eight percent interest it's granted to
Henry add ten percent interest at what
interest rate does the bank grand alone
at 10% the bank grants the loan at 10%
interest what is the bank grant alone
the bank grants alone this Henry grant
alone to the bank
no no the other way around
Henry doesn't grant a loan to the bank
he receives a loan from the bank
Henry withdraws all the cash and goes
straight to the casino this Henry
withdraw the money
yes Henry withdraws all the cash what
does Henry withdraw all the money
Henry withdraws all the money from the
bank and go straight to the casino
where's Henry going with the money to
the casino Henry goes to the casino
where to Disneyland no no he doesn't go
to Disneyland with the money
Henry withdraws ten million dollars and
go straight to the casino he bets all
the money at the roulette wheel on red
and wins this he bet only a fraction of
the money
no he doesn't bet only a fraction of the
money he bets all the money does he
gamble all the money from the loan yes
he Gamble's all the money from the loan
at the casino this Henry bed the money
on roulette yeah
Henry bets the money on the roulette
wheel what color does Henry bet on red
or black to red he bets all the money on
red and wins does he lose no he doesn't
lose he wins what a lucky guy
Henry returns the entire loan and goes
to live on a tropical island this Henry
returned anything yes Henry returns the
loan what's Henry returning the loan
Henry read
Delon does he return only one part of
the loan no no not only one part of the
loan he returns the whole loan and goes
to live on a tropical island is he
moving to Paris no he's not moving to
Paris he is moving to a tropical island
is he gonna live on an island at the
North Pole
no he won't live at the North Pole he's
going to live on a tropical island who's
gonna live on a tropical island
Georgianna no Georgiana's not gonna live
on a tropical island Georgiana has a lot
of work and can't go to a tropical
island for now it's Henry who's going to
a tropical island perfect this is the
end of this mini story remember to
repeat it many times so you can
consolidate the patterns of the English
language and I don't know if you've
noticed but you've answered a lot of
questions with this mini story it's like
talking to someone else in English and
now imagine a whole story told like that
it's amazing how much you can learn
using this technique find out more about
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to method dot speak English podcast calm
all right this episode ends right here
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