Loan Bank Ləʊn Personal Money Lent Noun Out/Repay

• to take out/repay a loan (= to borrow money/pay it back)
• she took out an $8  000 personal loan.
• bank loans with low interest rates
• it took three years to repay my student loan (= money lent to a student).

loan

1. money that an organization such as a bank lends and somebody borrows
• to take out/repay a loan (= to borrow money/pay it back)
• She took out an $8  000 personal loan.
• bank loans with low interest rates
• It took three years to repay my student loan (= money lent to a student).
• a car/home loan (= a loan to buy a car/house)
• The bank almost collapsed under the weight of bad loans (= loans that will never be paid back).
• The loan repayment period is 10 years.
• a loan agreement

Extra Examples

• He had to use his house as security for the loan.
• a loan from my brother
• The bank provides personal loan facilities at competitive rates.
• They used the inheritance to pay off their outstanding loan.
• They were struggling to meet their monthly loan repayments.
2. the act of lending something; the state of being lent
• I even gave her the loan of my car.
• an exhibition of paintings on loan (= borrowed) from private collections
• The striker, on loan from United, scored his first goal for City today (= he is playing for City for a fixed period by agreement with own team, United).

Extra Examples

• The midfielder comes to the Premiership on an 18-month loan deal from Roma.
• The book must be returned by the end of the loan period.

Word Origin

• Middle English (also denoting a gift from a superior): from Old Norse lán, of Germanic origin; related to Dutch leen, German Lehn, also to lend.