In a lending context, terms refers to the period of time and the interest rate arranged between a creditor and a borrower for the repayment of a loan. This everyday use of the word is more fully described under loan terms, which covers the specific duration, rate type, and repayment conditions a lender and borrower agree to.
The word "terms" is also used more broadly within a financial contract to describe its full set of conditions, as distinct from terms and conditions, which refers specifically to the complete legal document setting out the rights and obligations of both parties. For the fuller explanation of how a loan's repayment period and rate are structured and negotiated, see the main Loan Terms entry.