Interest-free
A period or agreement where no interest is charged, though other fees, terms or repayment obligations may still apply.
Related terms
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Interest-only repayment period
A temporary period when scheduled payments cover interest rather than reducing the underlying capital balance.
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Loan
Money advanced by a lender that must be repaid under agreed terms, usually with interest or fees.
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Loan agreement
The contract setting out the terms of a loan, including amount, repayment, interest, security, covenants and default rights.
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