closed-end loan

Definition of "closed-end loan"
  1. A type of loan that has a fixed repayment schedule and a specific end date
How to use "closed-end loan" in a sentence
  1. She opted for a closed-end loan to buy her car.
  2. The bank offers a closed-end loan that needs to be paid off within five years.
  3. The closed-end loan for the new property had a tenure of ten years.
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