Final answer:
Besides formal procedures like credit checks and income statements for a loan, customers should demonstrate clear communication, financial literacy, honesty, reliability, and consistent and timely fulfillment of obligations. These traits, along with proactive financial strategies, can assure banks of a borrower's capacity to repay the loan.
Step-by-step explanation:
In addition to the formal procedures of loan assessment such as providing income statements and undergoing credit checks, customers should demonstrate characteristics that reassure the bank of their reliability. These characteristics include clear communication and transparency, showing that the borrower is straightforward and open about their financial situation. Additionally, exhibiting financial literacy and responsibility indicates that the borrower understands the financial implications of the loan and is committed to managing their finances wisely. Another crucial characteristic is honesty, trustworthiness, reliability, and integrity, assuring the lender that the borrower has a track record of fulfilling financial promises. Lastly, consistency and timeliness in financial obligations suggest that the borrower is punctual and consistent in fulfilling previous debts, which is indicative of how they will handle the repayment of the new loan. Banks also appreciate when borrowers take proactive steps such as developing personal investment and retirement plans (A), starting a savings program (B), maintaining a checking account responsibly (C), understanding different loan types (D), comprehending the responsibilities of borrowing (E), and developing strategies to improve their credit score, thereby becoming a low-risk borrower (F).