What is a Loan?

By definition: A Loan is a sum of money borrowed (principal) usually for a specific reason (eg to obtain an education). The bank lending the money usually charges interest for use of the money. The amount borrowed is typically repaid with interest over a period of time.

It's best to look for loans with low interest rates.

There are different types of loans, icluding but not limited to, Auto Loans, Mortgage Loans, Student Loans, Personal Loans and Business Loans.

Back  -  HOME  - Next