A loan is a financial agreement in which a lender provides money or resources to a borrower, who agrees to repay the borrowed amount along with interest within a specified time period. Loans can be used for various purposes, such as purchasing a home, funding education, or supporting business ventures. The terms of a loan, including the interest rate, repayment schedule, and collateral requirements, vary depending on the type of loan and the agreement between the borrower and lender. Know More