Meaning Closed-end loan
What does Closed-end loan mean? Here you find 4 meanings of the word Closed-end loan. You can also add a definition of Closed-end loan yourself
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Closed-end loanA closed-end loan is a type of loan in which a fixed amount is borrowed and then paid back over a specified period. Auto loans and boat loans are common examples of closed-end loans. By contrast, open-end loans such as credit cards can have the amount owed go up and down as the borrower takes money against a credit line.
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Closed-end loanA loan that must be paid off within a certain period of time. Compare: open-ended loan
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Closed-end loanGenerally, any loan in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. Most real estate and automobile loans are closed-end agreements. See a [..]
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Closed-end loanGenerally, any loan in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. Most real estate and automobile loans are closed-end loans.
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