Chapter 193: Home Loan

After reaching the bank, the entire process was remarkably simple. With the automated artificial devices present, every step was done in just a few seconds of intervals. He just had to tap the holographic screen. Once his account was registered, he received a bank card, which was actually empty since he hadn’t filled it with any money yet.

After he finished registering the account, he walked toward the loan section, where a clerk could be seen working through the glass walls.

Alen walked over and knocked on the door. She looked up and nodded, gesturing for him to come in.

Alen entered the office room, walked toward the desk, and sat comfortably in front of her.

"Hello, how can I help you?"

She looked at his cloaked figure while wearing a polite, professional expression on her face.

"I wanted to apply for a loan and wanted to learn about the basics. Are you free to explain it to me?"

"Oh, so you are interested in getting a loan! Don’t worry, I am free for it. It is my job to guide everyone..."

"So about the loan, how much is your requirement? For what reason do you want to secure a loan?"

Alen leaned back in his chair in thought. If he told her that he wanted a business loan, then the interest rate would almost be double of what he expected. So, he chose to apply with a different method.

"I want a home loan for building infrastructure. My requirement is about 200 million gold coins."

She nodded calmly as she picked up her tablet and checked the specific loan amounts and their interest rates.

"Here, you can see the different loans according to your requirement..."

"I will explain it simply. In the first option, you will get a loan with an interest rate of 12% annually for 10 years. If you choose to pay the loan annually, then you have to pay 35.40 million per year for a total of 10 continuous years. Your interest only will be calculated to be 153.97 million. Similarly, if you choose to pay the amount monthly, then you have to pay approximately 2.8 million per month for 10 years, and your total interest will be calculated to be approximately 144.3 million."

She slid her finger across the screen, and a different holographic chart floated above the desk, displaying new numbers.

"This is also another new method. If you choose to pay using the total amount randomly, then your interest rate will be applied at 16% annually for a home loan. The total loan should be paid before the due date written on the contract. If it is not paid in the due time, the interest applied to the loan will be doubled, and you will have to pay double the interest for the remaining balance of the loan."

She switched the screen again to show a different chart as she began to explain everything about the loans. Alen nodded while sitting calmly, capturing her every word as he thought about which option to choose. If he chose the annual method, then he needed to earn a massive sum of money at once to pay the price, and he wasn’t sure if he could save up that much money for that long.

If he chose to pay monthly, he wasn’t sure if he could earn enough to regularly make the payments. It meant he was taking a loan on a fluke. If whatever idea he had inside his brain didn’t work, then he would be in massive trouble. But ultimately, he had no choice but to take a risk. A business can’t become successful if risks aren’t taken, and if he had no money to invest, then he wouldn’t be able to start the business at all.

After thinking for a long time, he finally nodded to her and spoke.

"I made a decision. I prefer the monthly payment for the 12% annual interest loan for 200 million..."

The clerk nodded calmly, switching off the graphs from the tablet and leaning back in her chair.

"Nice choice. Okay, can you show me your bank account card?"

Alen nodded as he pulled out his new card and handed it to her.

The clerk took it and scanned the card. His information updated on her tablet, and she reviewed it.

"Oh, you have a zero balance in your account, and there is no history of any past transactions. Did you just recently make the account?"

Alen nodded without replying much.

She checked his empty information and nodded, looking at him with an apologetic face.

"Sorry, sir. Our bank has a strict protocol. We can’t give you the loan since you have no property or anything valuable under your name. The bank requires you to have some backing so that we can rest assured you will be able to pay it back."

Alen couldn’t help but feel surprised. He didn’t know about that rule. He had never taken a loan in his past life, so this was brand new information for him.

He knew there must be various loan takers who are also Ascenders. If something unseen happened to them during a trial, the bank needed some means to reach their background and claim their property to pay the debt back. Every bank is selfish, and they have to choose strict methods to secure their money.

Alen remained in thought, trying to decide what he should do to get some backing. Suddenly, he remembered the VIP card. After an internal debate, he finally decided to check if it would help him secure the loan.

"Here, can I still get a loan now?"

The clerk looked at the black VIP card. Her eyes dilated and widened in sheer shock. She immediately stood up from her chair and bowed to a strict ninety-degree angle.

"Oh, sorry sir! We.... I mean, our bank can definitely give you that much loan with this!... I am sorry to ask, but can you tell me who you are, sir?...."

Alen waved his hand casually, realizing she misunderstood him for being one of the Sages.

"Hey, don’t worry. I am not the Sage. I just got this card temporarily from a Sage for my own use, so can I get the loan now?"

She nodded frantically and finally sat down in relief, though she still watched him carefully.

"If it’s not a big deal, can you tell me whose card this is?"

Alen shook his head.

"Well, I can’t tell you his name. But I will assure you, I will regularly pay the loan back."

She nodded, still feeling confused about why he chose to take a loan instead of just using the VIP card’s wealth. But she kept it to herself, as it was not her business to meddle in a powerful person’s life.

She began the process of the loan and brought out the contract to sign. The loan was finally approved, and the massive amount of gold was transferred to his account immediately. The methods in this world were incredibly fast and efficient. If it had been his old world, it would have taken days or weeks to approve that much of a loan, but here it was instantaneous.

After getting the loan, Alen stepped out of the bank. The bright sunlight stung his exposed hands.

’So it seems the important work is done. Shall I take my first step into the business world now?’

Without waiting or overthinking, he stepped forward and walked toward a particular location he already had in mind.