An account through which a customer is able to repay a bank loan.
he authorized a withdrawal from my loan account
Example sentencesExamples
There is a debit charge to his loan account in the amount of the surplus payment.
Accrued interest is debited to the loan account two weeks after each of those dates.
He and his wife owed around £50,000, mostly on their credit cards and a loan account.
Its report investigates whether there is a viable market for technology that prevents a loan account being opened by a person who has stolen another's identity.
In some cases, a customer may open some special type of account, such as a loan account or a savings account, in addition to his current account.
He had an overdraft of £3,125 and a debit on his loan account of some £45,000.
To secure the debit balance in the loan account, he gave the bank as a security some shares and bonds belonging to his clients.
A borrower would have a loan account and a savings account and the balance in the savings account could be used to reduce the interest paid on the mortgage.
The fact that the loan account is significantly in excess of the agreed amount is conceded.
The bank offers the customer an option of linking his personal loan account with his savings account.