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Banks usually offer loans at a concessional rate of interest to its employees. This is a benefit that the bank offers only to its employees.
Usually if a bank charges 10% rate of interest to a normal customer and 7% to its employee as a concessional rate, it so happens that 7% is the minimum interest that the bank has to collect from the person to maintain a balance between its lending and deposit rates and the remaining 3% is the profit that the bank would make which it is ready to forego because of the fact that, the borrower is an employee of the bank and the bank is willing to lose out on the interest in order to provide this benefit to its employee.
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Use of employees or employee's?
employees is plural, employee's is possesive The bank's employees did nothing to stop the robber. The employee's bank was being robbed.
How can I find a copy of Woodforest bank employee policies and proceedures manual?
You can get one if you are an employee of Woodforest Bank.
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