All about Borrowing and Interest Rates | Elements of Loan
Borrowing: general definition Borrowing is defined as a transaction involving a natural or legal person seeking from a lender, mainly a bank, the provision of a sum of money at a variable or fixed interest rate and a term of determined. A loan takes the form of a contract that binds a lender and a borrower, who agrees to honor a financial debt. If the loan and the bank credit both correspond to...