A legal agreement between a borrower and a financial institution, such as a bank or credit union, which sets out the terms and conditions of a loan. This agreement describes in detail the duties and rights of both parties involved in the loan, including the loan amount, applicable interest rates, payment term, monthly instalments, penalty clauses, guarantees (such as mortgages) and other relevant provisions. The loan agreement is a key document that protects the interests of both the borrower and the lender, guaranteeing transparency and compliance with financial laws and regulations.
Entity or financial institution that grants a loan or credit to a borrower in exchange for the promise that the amount borrowed will be repaid with interest and within the terms and conditions established in a credit agreement. Lenders can be banks, credit unions, financial institutions, credit card companies or any entity that provides financing to individuals or companies.
A financial agreement in which a financial institution, such as a bank or credit union, grants funds to a borrower in exchange for the pledge that the amount lent will be repaid with interest over time. The borrower receives a specific amount of money, called the principal, and agrees to make regular payments, which include a portion of the principal and interest on the amount owed.
A party that grants a loan or provides financial funds to another party, called the borrower, with the expectation that the amount lent will be repaid with interest in accordance with the agreed terms and conditions. In the context of loans, the lender is usually a financial institution, such as a bank, credit union or other entity authorised to lend money.
A financial agreement in which one party, called the lender, lends an amount of money or assets to another party, called the borrower, with the expectation that the amount lent will be repaid in full at a future date, together with interest or other agreed charges. This agreement sets out the conditions of the loan, including the amount lent, the interest rate, the payment term, the payment duties and any guarantees or collateral duly involved.
This is the total duration of the loan, namely from the moment it is granted until the final maturity date.