Essay On Retail Lending

There are many different canons of lending, from Campari, 5 C’s, Parsers and Parts, however they all pose the same components and information required to complete an assessment and assist with making a credit decision. We use cookies to make interactions with our website easy and meaningful, to better understand the use of our services, and to tailor advertising. The main function of a bank is to take in funds from surplus units, whom are persons that have excess funds (depositors) and lend to deficit units, whom are persons who are in need of funds to finance a need (borrowers).

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That is, if a person does not meet the standards then the loan should be denied. Establishing Upper Limit to Loans: A statement defining the upper limit to a loan beyond which a loan cannot be allowed 11.

Define its Community: A description of the bank’s principal trade area, which most loans should come from. Trouble Loan: A discussion of the preferred procedures for detecting, analyzing, and working out problem loan situations.

Banks take in deposits and in turn pay interest on these deposits.

A bank is unable to pay interest if they do not have a source of income or a way of making a profit.

Consumers expect a range of basic services from retail banks, such as checking accounts, savings accounts, personal loans, lines of credit, mortgages, debit cards, credit cards, and CDs.

Most consumers utilize local branch banking services, which provide onsite customer service for all of a retail customer's banking needs.

In retail banking, the focus is on the individual consumer.

Retail banking aims to be the one-stop-shop for as many financial services as possible on behalf of individual retail clients.

Through local branch locations, financial representatives provide customer service and financial advice.

Financial representatives are also the lead contact for underwriting applications related to credit-approved products.