Loanback
Definition, Meaning & Examples
Part of speech noun
Quick meaning: Loanback is a noun meaning A loan made from a pension or annuity to someone who has contributed money to that pension or annuity.
Meaning
A loan made from a pension or annuity to someone who has contributed money to that pension or annuity.
More Meanings
- A loan from a trust fund to the grantor that created the fund.
Example Sentences
Most of the plans have loanback facilities, which allow you to use your pension to get a loan.
A more modest approach is for the parent to give money to a child, followed by a loanback to the parent.
Furthermore, the Target plans provide a guaranteed loanback facility with loans from as little as £5,001.
The following, in combination, may avert an implication of prior agreement: (a). Use of an independent trustee; (b). Reasonable time between creation of trust and loanback.
Word Forms
- loanbacks
Related Words
Related dictionary entries include onloan, loan, on-loan, loaning, loanee, loaner.
Related Dictionary Tools
Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
Dictionary data is provided by FreeDictionaryAPI.com and sourced from Wiktionary under its stated license.