When borrowed money or thing is expected to be paid back at an interest.
The date on which the principal balance of a loan, bond or other financial instrument becomes due and payable.
This is an agreement between the bank and a company through which a company can keep borrowing until a certain limit is reached.
An additional borrower whose name appears on the loan agreement which is generally used to process a loan. The co-borrower is equally liable for the total loan borrowed.An additional borrower whose name appears on the loan agreement which is generally used to process a loan. The co-borrower is equally liable for the total loan borrowed.
A flat rate simply calculates the interest on the entire loan amount.
A reducing balance rate calculates the interest on the outstanding balance of your loan, which obviously reduces as you pay off your loan.
The length of lease or loan.
A person or a thing which is used as a guarantee.
An additional person acquiring loan with primary applicant. This is done to increase chances to qualify for a loan or to qualify for a larger loan.
