If confused by any terminology on our site, make use of this glossary as helpful tips!
APR: Annual Percentage Rate (APR) steps the price of borrowing cash. In conclusion, the interest is reflected by it rate.
Assets: such a thing owned by a person.
Bank: A for-profit institution that is financial accepts deposits and networks these deposits into lending activities.
Bankruptcy: an ongoing process for which customers can expel or repay a few of or all their debts beneath the security associated with federal bankruptcy court.
Bonds: that loan that an investor makes to an organization, federal federal government, federal agency, or other company. In reality, the issuer (debtor) comes into into an agreement that is legal spend you (bondholder) interest for loaning them cash.
Certificate of Deposit (CD): a certification given by a bank up to a person money that is depositing a specified period of time.
Collateral: One thing pledged as protection when it comes to payment of that loan or forfeited in the eventuality of standard.
Consumer: generally speaking, an individual who makes use of or purchases items.
Credit rating: an line that is extended of for individual or home usage.
Compound Interest: Interest credited day-to-day, month-to-month, quarterly, semi-annually, or annually on major and formerly credited interest.
Credit file: A document which has the documents of all of the of one’s payment and borrowing history. Additionally, to find out more on how to access your credit file, just click here .
Credit Union: A member-owned, non-profit institution that is financial provides monetary solutions to its users.
Deed-in-Lieu: Your home loan business allows you to hand back the title to your residence, moving ownership for them.
Temporarily postponing your education loan re re payments.
Cost: the price of an excellent or solution.
Forbearance: an understanding between both you and your loan provider to lessen or even to stop payments that are making as much as year. Continue reading Glossary of Financial Terms. Utilize this glossary as helpful information to economic terms