Definitions for "No load fund"
A no-load fund has no up-front charge or redemption charges and is typically marketed directly to the consumer.  A no-load fund may impose a 12b-1 fee of up to 0.25 percent.
A mutual fund that does not charge a sales fee or commission to buy or sell its shares. No-Load fund prices are accompanied by the designation "NL" in newspaper listings.
A mutual fund that does not charge a fee for buying or selling units.