The length of time until a loan is due. It's also known as the time-to-maturity of a loan or other financial contract. For example, if you take out a five-year loan, you have a five-year tenor. Once you're three years into repaying the loan, you have a two-year tenor.
The tenor of a loan can be given in years, months, or days. The tenor of the loan will affect the interest given by the bank to the borrower. The longer the chosen refund time tenor, the greater the total interest paid by the applicant