Question

Steven is looking at banks for checking and savings accounts. Some offer home loans and others do not. Steven may need a home loan sometime in the next few years. But he wonders if he should really ask what kinds of loans the bank makes, because he is getting a checking account, not a home loan. Which statement below gives the best reason for Steven to consider loan availability in choosing a checking account? a. The bank offers $100 to customers who get a pre-approval for a home loan. b. The bank provides ATMs in all the suburbs where Steve is interested in living. c. Banks that provide home loans can usually charge lower fees on checking accounts. d. If he needs a home loan in the future, he will have a relationship with the bank.

Answer 1

Option D is the correct answer.

Explanation:

The below given statement gives the best reason for Steven to consider loan availability in choosing a checking account:

If he needs a home loan in the future, he will have a relationship with the bank.

When Steve is already a good customer for any bank, he will always be considered if he applies for loan in that bank. Getting loan in the same bank will be a hassle free task due to previous good customer relationship.