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Practice English Speaking&Listening with: #102 Going to the bank - Banking and money vocabulary in English (rep)- ESL

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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

this effective method take action now

and sign up for my free mini course go

to method dot speak English podcast calm

all right this episode ends right here

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soon did you enjoy today's episode get

the transcript now at speak English

podcast.com speak English podcast.com

[Music]

The Description of #102 Going to the bank - Banking and money vocabulary in English (rep)- ESL