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A bank loan is a monetary loan received from a commercial lender. The loan may have a specific purpose, such as a car loan or a home loanLoans made on collateral--such as car loans and home mortgages--have a security attached to the loan. For example, if a customer stops paying on his car loan, the bank will repossess the car to protect their interest. The car is then sold to recover the outstanding balance of the loan.
In bank loan
As is the case in our bank
Should cover the mortgage
125%
The value of the loan granted and to be financed
