In the narrower sense, a loan granted by a bank to a customer and paid out in cash on request, sometimes also called a term loan facility. – A loan granted to private households under a fixed repayment schedule, also known as installment loan and consumer loan. Payment in cash is not a necessary condition of the term, as the name suggests in this case. Rather, the bank granting the loan can also transfer the money made available to the borrower directly to a third party, such as a creditor of the customer, under the terms of the loan agreement. – See Acquisition credit, Overdraft facility, Königsberg system, Overdraft, Submission.
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