What is the definition of Add-on loan? | Dictionary.net

ADD-ON LOAN

\ˈadˌɒn lˈə͡ʊn], \ˈadˌɒn lˈə‍ʊn], \ˈa_d_ˌɒ_n l_ˈəʊ_n]\

Definitions of ADD-ON LOAN

1910 - Black's Law Dictionary (2nd edition)

Sort: Oldest first

A lending agreement that adds interest to the interest and uses returns to pay interest. It causes the interest rate to be higher and must be agreed to at contract signing.

1910 - Black's Law Dictionary (2nd edition)
By Henry Campbell Black

Word of the day

Snake's-head

Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.

View More

Nearby Words