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what is the definition of bank "drawdown"

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11y ago

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Defintion of a drawdown loan?

To drawdown a loan simply means using the money, i.e actually having it transferred from the bank to your account. You will be charged interest from the date of the drawdown.


Definition of a drawdown loan?

Loan draw down is withdrawing the money as in the disbursement of the loan.


Simple meaning of bank?

There are many definitions for bank. The simplest definition of bank would say that it is a noun, and a place where you can loan or take out money.


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A bank credit is when someone takes out a loan from a bank where they are not required to pay the debt back immediatly and a payment schedule will be made.


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What is the difference between a bank loan and notes payable?

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What happens if you do not pay bank loan?

The bank can raise a legal complaint against you. If you have any property attached to the loan as collateral, the bank can take possession of them and try to recover their money from it. If you have any guarantors attached to the loan, the bank would approach them to recover their money from them. If nothing works out, finally they can have you jailed for defaulting on your loan repayment


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The definition of reverse mortgage is when the bank takes out a loan based on your property. This is used for extending your mortgage beyond what it is now.


Can a bank hold a title on a paid off auto loan because there is another older loan that is collections on another vehicle in Utah?

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Is it legal for a loan company to check your bank account?

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