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A debenture is a medium or long term loan that is usually used by financial institutions to lend money to you.

Debentures are usually fixed term and fixed payment agreements that are taken by companies to borrow money.  Interest is normally charged on the debenture.

If you require a loan or an overdraft the bank may require a debenture to be secured on business or personal assets to ensure the debt can be covered if defaulted upon.

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