Careful when a rich aristrocat takes a small loan !!
Dr Seelan from Botany Bay, James Cook Island, Sydney, was on his way to Sri lanka. He did appear to need a loan and walked to a bank near the airport. When interviewed by an executive of the bank, he told that he was flying to join a reunion of Medicos in Colombo, Sri Lanka and would be away for two weeks. He needed to borrow $5,000 though was not a depositor of the bank. The bank officer informed that they would need some form of security for the loan. Dr Seelan handed over the keys of his spanking new Ferrari. The car was parked on the street in front of the bank and produced the title and everything was in order. The officer agreed to hold the car as collateral for the loan and apologized for having to charge 12% interest. The loan papers were signed and Dr Seelan awaited till he witnessed an employee driving his Ferrari into the bank’s private underground garage and parked it.
Later, the bank’s president and officers enjoyed a good laugh at Dr Seelan’s expence, for using a $250,000 Ferrari, as collateral for a $5,000 loan. Two weeks gone, Dr Seelan returned, repaid the $5,000 and the interest of $23.07.
The bank manager said, “Sir, we are happy and honoured to have had your business, and this transaction did work out very nicely. However, we still remain some what puzzled as to why you had to keep for a meazly loan of $5,000, such a valuable asset as the surety! The fact of the matter is as a result of our doubts while you were away, we did check on your financial status. We found out that you are a highly respected diagnostic and interventional consultant radiologist in Sydney, a multimillioneer, a sophisticated investor with a fleet of very expensive cars, an owner of a superior class yacht, a renown investor in real estate with financial interests all over the world and a distinguished Alumni of Colombo Medical faculty. Dr Seelan replied with a sheepish smile, “Where else in Sydney can I park my new Ferrari for two weeks for a meazly sum of $23.07 and expect it to be guarded and returned securely?”.