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Definitions (100)
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balloon payment
A final loan payment that is considerably higher than prior regular payments, to pay off the loan.
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glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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a
Account A record of financial transactions for a deposit or loan for a customer of the bank.
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account reconciliation
Matching one's account balance to the corresponding bank statement.
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accrued interest
Interest that has been earned but not yet paid on an interest-bearing investment.
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ach
Nationwide electronic funds transfer network which enables participating financial institutions to distribute electronic credit and debit entries to bank accounts and to settle such entries.
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active account
A bank account in which there has been at least one transaction in a 12-month period.
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adjustable rate
See Variable Rate.
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amortization
Schedule of loan payments of principal and interest over a period of time.
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annual fee
Any fee for a product or service that is paid once a year.
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