The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

CLOSED-END LOAN Definition & Legal Meaning

Definition & Citations:

Type of consumer installment loan where the borrower cannot alter the (1). number and amount of installments, (2). maturity date, and/or (3). credit terms. Known also as closed end credit. This is in contrast to an open-end loan.


This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.