demand loan

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Word: Demand Loan

Definition: A demand loan is a type of loan that the lender can ask to be paid back at any time. This means that there is no fixed repayment schedule, and the borrower must repay the loan whenever the lender requests it.

Usage Instructions:

• Context: Demand loans are often used in business or personal finance situations where the lender wants flexibility in getting their money back.
• Who uses it: Banks, financial institutions, or individuals who lend money.

Example:

• "I took out a demand loan from my bank, which means they can ask me to pay back the full amount whenever they want."

Advanced Usage:

• Demand loans are commonly associated with short-term financing and can be linked to various financial agreements, such as lines of credit or personal loans.

Word Variants:

• Noun: Demand loan
• Adjective: Demandable (meaning it can be demanded back at any time)

Different Meanings:

While "demand loan" specifically refers to a type of loan, the word "demand" on its own can mean: - A request for something to happen (e.g., "There is a high demand for electric cars.") - The need or desire for goods or services in economics.

Synonyms:

• Call loan
• On-demand loan
• Flexible loan

Idioms and Phrasal Verbs:

There aren’t specific idioms or phrasal verbs directly related to "demand loan," but you may encounter related phrases: - "Call in a loan": This means the lender requests repayment of a loan. - "Pay off": To repay a loan in full.

Summary:

A demand loan is a flexible type of borrowing where the lender can ask for repayment at any time.

Academic

Noun

1. a loan that is repayable on demand

Synonyms

• call loan