open-ended loan

Definition of "open-ended loan"
  1. A loan without a fixed end date, such as a credit card account or credit line
How to use "open-ended loan" in a sentence
  1. She prefers using an open-ended loan as it offers her flexible repayment time.
  2. An open-ended loan, like a credit card, can provide quick access to funds when needed.
  3. Open-ended loans can be helpful but they also may carry higher interest rates than traditional loans.

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