Renewal
Banking
A form of extending an unpaid loan in which the borrower's remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the next financing period.
- — Dictionary of Banking Terms and Phrases
- — Dictionary of Banking Terms and Phrases retrieved 2014-05-16
Homeowners Insurance
Continuation of a policy after its expiration date.
- — Glossary of Common Homeowners Insurance Terms retrieved 2014-05-16
Personal Finance
A form of extending an unpaid loan in which the borrower's remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the next financing period.
- — Pocket Cents Glossary retrieved 2014-05-16