Loan account - An account, opened for a customer by a bank, following the granting of a loan. The amount of the loan is credited to the customer"s current account and similarly debited to the loan account. An arrangement is subsequently made for the customer to repay the loan, usually over a stated period of time, with interest additionally being paid on the outstanding amount.
Loan account : an account, opened for a customer by a bank, following the granting of a loan. the amount of the loan is credited to the customer"s current account and similarly debited to the loan account. an arrangement is subsequently made for the customer to repay the loan, usually over a stated period of time, with interest additionally being paid on the outstanding amount.
Loan account