Definition of savings account loan

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TeachMeFinance.com - explain savings account loan



savings account loan -- a loan secured by funds on deposit in a savings account, normally maintained at the lending institution. Funds in the savings account equal to the amount of outstanding principal of the loan, may not be withdrawn.



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Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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