MLchartDataset catalogue

Open-ended loan

Term · Law · MLC-T-LAW-003557

A type of loan that allows the borrower to repeatedly draw funds up to a certain credit limit, repay them, and then borrow again, without having to reapply for a new loan each time. Examples include credit cards and home equity lines of credit (HELOCs). Interest is typically charged only on the outstanding balance, and payments fluctuate based on usage.

Table 1. Record
IdentifierMLC-T-LAW-003557
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003557",
  "term": "Open-ended loan",
  "field": "Law",
  "definition": "A type of loan that allows the borrower to repeatedly draw funds up to a certain credit limit, repay them, and then borrow again, without having to reapply for a new loan each time. Examples include credit cards and home equity lines of credit (HELOCs). Interest is typically charged only on the outstanding balance, and payments fluctuate based on usage.",
  "url": "https://mlchart.com/terminology/law/open-ended-loan/"
}

Record 3,551 of 5,441 in Law terminology (MLC-0107). Request the full dataset.