Loan Meaning: Definition and Examples

Meaning 1：borrowed money (loan)

loan 🔊

/ləʊn/

Money that is borrowed from a bank or person, with a promise to pay it back later, often with extra money called interest.

borrowed money 🔊

➕

/ˈbɒrəʊd ˈmʌni/

A sum of money that a bank or person lends to someone, who promises to repay it, often with extra payment called interest.

📁 Category：Social Economy 🔖 Level：Intermediate

📘 Details & Usage

📖 Root Explanation

From Old Norse 'lán', meaning 'something lent'.

💡 Mnemonic

Think of 'loan' as 'lone' money that leaves you but returns with interest.

📖 Example

He took out a loan from the bank to buy his first car. 🔊 He obtained a financial loan from the bank to purchase his first car.

🔗 Collocations

loan application – The formal process of requesting a loan from a lender.

loan repayment – The act of paying back the borrowed money over time.

personal loan – A loan given to an individual for personal use, not for business.

🔄 Synonyms

credit (n.) – The ability to borrow money or obtain goods before payment, based on trust.

mortgage (n.) – A loan specifically for buying property, secured by the property itself.

advance (n.) – Money given before it is due, often as a loan.

🚫 Antonyms

repayment (n.) – The action of returning money that was borrowed.

deposit (n.) – Money placed into a bank account, opposite of taking out a loan.

gift (n.) – Money given without expectation of repayment.

🌱 Derivatives

loaner (n.) – A person or institution that lends money.

loanee (n.) – A person who receives a loan.

loanword (n.) – A word borrowed from one language into another.

📖 Cultural Story

Derived from Old Norse 'lán', it entered Middle English as 'lone'. Central to banking since Renaissance, the word reflects the core financial concept of borrowing with interest.