Definition of «loan products»

The term "loan products" refers to financial instruments that are offered by banks, credit unions or other financial institutions. These products allow individuals or businesses to borrow money for a specific period of time with the understanding that it will be repaid along with interest. The types and terms of loan products can vary widely depending on the lender's policies and the borrower's needs, but some common examples include mortgages, auto loans, personal loans or credit cards.

Sentences with «loan products»

  • The credit union offers an array of loan products for home, vehicles, individuals and students. (lendedu.com)
  • Online lenders tend to offer the same low interest rates and good terms, as well as an ability to search through the widest selection of loan products for the best possible deal. (badcreditloanservices.com)
  • Unique in the market — no other home loan product offers these features and low initial installments. (sahomeloans.com)
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