consumer loan
2
3.2
- noun
- /kənˈsjuːmər loʊn/
- Specialized
:
préstamo al consumo
- "We have recently announced an agricultural loan package for SMEs and a consumer loan package, where consumers can apply through our ATM network, through our web, and through their mobile phones," he says.
- consumer loans and mortgages
- consumer loans and credit
- consumer loan rates
Examples
-
The banks aligned with the AKP, that is, the four Shari'a-compliant banks (or participation banks), have increased their consumer loans at a much faster rate than the conventional banks.
Academic text (2012) -
Keep it in mind, in China, there is basically no consumer loan except for housing loans.
Blog text (7) -
Families cannot find affordable mortgages and consumer loans.
Blog text (4) -
Although banks may be reluctant to finance residential home purchases, the likelihood that they will extend credit for other consumer loans is growing.
Blog text (3) -
Noninterest income may include check collection fees, monthly service charges on deposit accounts, cash management services, and fees from bank credit cards and consumer loans.
Blog text (10) -
Many people rely on a consumer loan to purchase new appliances for their homes.
-
She took out a consumer loan to cover unexpected medical expenses last year.
-
Before applying for a consumer loan, you should check your credit score to ensure you qualify.
Synonyms
∞
2.0
An amount of money borrowed from a bank that must be paid back with interest
7
2.6
Money a bank gives a person for personal use that must be paid back with extra money
4
3.3
Money people borrow to buy things for their home or family not for business
How Large
- Specialized
526
5.4
- US
5
3.0
- Specialized
2
3.2
- Specialized
7
2.6
- Specialized
1
3.6
Surface Forms
Morphology
Both constituents are semantically compositional: 'consumer' (an individual who purchases/uses goods) + 'loan' (an amount borrowed) directly yield the interpretation 'a loan for consumers/personal use'. This is a straightforward noun+noun compound following common cross-linguistic patterns, so a B1 learner who knows the parts should understand the MWE.
Etymology
The term consumer loan comes from the words consumer, meaning a person who buys goods, and loan, meaning money lent to be paid back. It refers to money a person borrows for 'personal' or 'household' needs rather than for 'business', so it means a loan given to a person for everyday or family use.