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Demand Loan

Definition:

A demand loan refers to a type of loan that allows borrowers to withdraw funds whenever required by the borrower, without any fixed repayment schedule. The lender can demand repayment of the loan at any time.

Sense 1:

Noun: A loan agreement between a borrower and a lender where the borrower can access the funds on demand.

Example sentence: I took out a demand loan from the bank to cover the unexpected medical expenses.

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Sense 2:

Noun: The sum of money demanded by the lender to be repaid immediately.

Example sentence: The lender called in the demand loan, and I had to repay it in full within a week.

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