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Checking account – The cash which happens to be stored in discounts or possibly a financial institution for safekeeping. This cash can be withdrawn quickly by simply crafting out a Check out or utilizing an ATM equipment.

Secured loan – It is a loan exactly where the borrower will pledge his asset similar to a vehicle or dwelling that can be sold if He's unable to pay out again the loan.

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Repossess – The voluntary or pressured surrender of items in the case of the purchaser’s failure to pay for back again a loan.

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