What type of financial provision is typically offered by a commercial bank or financial institution for a set time and amount?

The correct choice in this scenario is a line of credit. A line of credit is a financial provision offered by a commercial bank or financial institution that allows a borrower to access a specific amount of funds over a designated period. This flexible arrangement permits the borrower to draw upon the available credit as needed, up to the approved limit, and only pay interest on the amount drawn rather than the total credit limit. This feature makes a line of credit particularly useful for managing cash flow or unexpected expenses, providing both flexibility and convenience.

The other financial products mentioned are designed for different purposes. A loan is generally a fixed sum of money borrowed for a specific purpose, with a set repayment schedule. A mortgage is a specialized loan typically used to purchase real estate, secured by the property itself. Overdraft protection is a service that allows an account holder to withdraw more money than is available in their account, which can result in a fee but is not typically structured as a fixed amount available over time like a line of credit. Each of these options serves distinct financial needs, highlighting why the line of credit is the most appropriate answer for this question.