Bank Loans
Bank loans are financial instruments where a bank lends money to a borrower, typically with an agreement for repayment with interest over a specified period. They are a core component of banking and finance, used by individuals, businesses, and governments to fund purchases, investments, or operations. This concept involves understanding loan types, terms, interest rates, and risk assessment.
Developers should learn about bank loans when working on fintech applications, banking software, or financial analysis tools to implement features like loan calculators, credit scoring algorithms, or automated lending systems. It's essential for roles in financial technology, where knowledge of loan processing, regulatory compliance, and data modeling for risk assessment is required.