verb phrase · neutral
take out a loan
UK/teɪk aʊt ə ləʊn/US/teɪk aʊt ə loʊn/take OUT a LOAN
Band 4-5task2speaking
to borrow money from a bank or lender, usually formally
Examples
“They had to take out a loan to renovate their house.”
“Many students take out a loan to cover tuition fees.”
“We decided to take out a small loan rather than deplete our savings.”
Band 8 sentence
“To cover the renovation costs they decided to take out a loan with a fixed interest rate.”
Collocations
- take out a mortgage
- take out a student loan
Word family
take out phrasal verbloan nounborrow verb
Common mistakes
take a loan→take out a loan
Say it for a higher band
5get a loan→6take a loan→7+take out a loan
Synonyms
get a loan
Easily confused
borrow money
“I had to borrow money from a friend until payday.”
Related words
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In Shopping & Money
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