bank loan
Financing from lender
A bank loan is money borrowed from a bank, typically repaid with interest over a set period.
Unlike credit cards or lines of credit, a bank loan usually involves a fixed amount disbursed at once: They took out a bank loan to renovate the kitchen.
Bank loans may be secured by collateral or unsecured based on creditworthiness.
- credit checkExamination of payment history
- collateralSecurity for debt
- down paymentInitial sum toward purchase
- credit unionMember-owned financial cooperative
- creditworthinessAbility to repay debts
amortization · monthly payment · co-signer · debt-to-income ratio · credit score · underwriting · prepayment penalty · principal · refinancing · guarantor · mortgage · interest rate · installment · lender · repayment · foreclosure · overdraft · signature
- debtdebt, creditor, owe, debtor, lender
- debtscredit card debt, medical debt, student debt, mortgage, debt
- debt typescredit card debt, revolving credit, line of credit, credit line, promissory note
- bankingATM, ATMs, account, accounts, deposit
- loanslend, borrow, borrower, lender, microloan
- fundingfunding, grant, grants, venture capital, crowdfunding
bank loangift
Item given freely
grant · donation · inheritance · cash gift · windfall
bank loansavings
Accumulated money kept
equity investment · cash reserves · capital · net worth · assets
bank, loan, banker, banking, banks, loaned, loans, loaning, bankers