Definition, Meaning & Synonyms
loan
noun
loʊn
Definition
A loan is a sum of money that is borrowed and is expected to be paid back with interest.
Examples
- He took out a loan to buy a new car.
- The bank approved her student loan for college.
- After careful consideration, they decided to apply for a home loan.
Meaning
In simple terms, a loan refers to money given by a lender to a borrower, which must be repaid over time.
Synonyms
- credit
- advance
- mortgage
- financing
- borrowing
