Definitions and Examples of borrower, debtor, customer
Learn when and how to use these words with these examples!
A person who receives money, goods, or services on credit with the understanding that they will pay it back.
Example
The borrower was unable to repay the loan on time and had to pay additional interest.
A person or entity that owes money to another person or entity.
Example
The company was declared bankrupt because it had too many debtors who could not repay their loans.
A person who buys goods or services from a business.
Example
The customer was satisfied with the service provided by the bank and decided to open a savings account.
Key Differences: borrower vs debtor vs customer
- 1Borrower is a person who receives money, goods, or services on credit with the understanding that they will pay it back.
- 2Debtor is a person or entity that owes money to another person or entity.
- 3Customer is a person who buys goods or services from a business.
Effective Usage of borrower, debtor, customer
- 1Financial Transactions: Use borrower and debtor when discussing loans, credit, and debt.
- 2Banking Services: Use customer when referring to people who use banking services such as savings accounts, checking accounts, and loans.
- 3Legal Matters: Use debtor when discussing legal matters related to debt and bankruptcy.
Remember this!
The antonyms of bank are borrower, debtor, and customer. Use borrower and debtor when discussing loans, credit, and debt. Use customer when referring to people who use banking services such as savings accounts, checking accounts, and loans. Use debtor when discussing legal matters related to debt and bankruptcy.
