Loans Glossary
Bank Loans
A loan is a type of debt. A bank loan entails the redistribution of financial assets over time, between the lender (the bank) and the borrower (the bank customer). The borrower initially receives an amount of money from the bank lender, which they pay back, usually but not always in regular installments, to the bank lender. This service is generally provided at a cost, referred to as interest on the debt.
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