Home > Term: demand loan
demand loan
Loan (such as an overdraft) with or without a fixed maturity date, but which can be recalled anytime (often on a 24-hour notice) by the lender and must be paid in full on the date of demand. Also, the borrower can pay off a demand loan at any time without incurring early-payment penalties.
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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- anton.chausovskyy
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