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Loan commitments

• Loan commitments involve a promise by the bank to provide a loan at some (usually fixed) interest rate during a stated time period (say 1 year). The customer has the option of taking down a loan in the future at the agreed upon rate if he so chooses.

 
 

Follow this link for all the terms related to loan.

 
 Embedded terms in definition
 Future
Interest rate
Interest
Option
Time
 
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What to Know Before Declaring Your Financial Independence: Twenty-somethings may not realize it, but every time they enter a new phase of their life as young adults - perhaps starting college, a career or a family - they're also venturing into a new world of money management. Here are ways to be prepared. More...

If you once forfeit the confidence of your fellow citizens, you can never regain their respect and esteem. You may fool all of the people some of the time; you can even fool some of the people all the time; but you can't fool all of the people all of the time. - Abraham Lincoln

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