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What is the difference between a closed-end loan and a revolving line of credit?

April 26, 2017closed-end line of credit loan revolving

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What is the difference between a closed-end loan and a revolving line of credit?

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[ return to top ] Closed-end loans are best if you want a predictable, fixed rate. A revolving loan makes sense for customers who need the flexibility to borrow, without paying interest when they don’t.

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: [ return to top ] Closed-end loans are best if you want a predictable, fixed rate. A revolving loan makes sense for customers who need the flexibility to borrow, without paying interest when they don’t.