In terms of lending operations of the banks, what does the acceptance letter signify?

In terms of lending operations of the banks, what does the acceptance letter signify?
[A]That a loan has been approved by the Bank
[B]That a loan has been disbursed to the borrower
[C]That the terms of loan have been accepted by the borrower
[D]That the loan has been fully repaid

That the terms of loan have been accepted by the borrower
Acceptance letter is the letter that a borrower or applicant gives to the lender after reading the terms of the loan. This letter denotes the borrower’s willingness to accept the loan offer within a particular time frame.

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This question "In terms of lending operations of the banks, what does the acceptance letter signify?" was published on GKToday on May 18, 2015 at 1:17 pm. For Current Affairs Questions Archive Click Here. For General Knowledge Questions Archive Click Here.

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