Meaning of the word "bank loan" in English

What does "bank loan" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

bank loan

US /bæŋk loʊn/
UK /bæŋk ləʊn/
"bank loan" picture

Noun

an amount of money borrowed from a bank that must be repaid with interest

Example:
They took out a bank loan to start their new business.
The interest rate on the bank loan is quite high.