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Banking

Super NOW Account

An interest-bearing checking account (demand deposit) that pays a higher rate of interest and requires a higher minimum balance than...

Self-Amortizing Loan

A loan that is paid back in equal periodic installments. An installment constitutes varying portions of principal and interest over...

Transactional Account

A deposit account that does allow funds to be withdrawn or transferred to third parties using some means of instruction...

Transaction Account

A deposit account that does allow funds to be withdrawn or transferred to third parties using some means of instruction...

Term Transformation

A type of transformation that is performed by banks and other depository institutions whereby short-term deposits are accepted at low...

Variable Rate Certificate of Deposit

A certificate of deposit (CD) that pays a variable interest rate. In other words, the rate adjusts upward or downward...

Variable Rate CD

A certificate of deposit (CD) that pays a variable interest rate. In other words, the rate adjusts upward or downward...

Escrow Account

An account that is established by a lender or an intermediary bank to hold separate funds for the purpose of...

Discount CD

A certificate of deposit (CD) that pays no periodic interest to the holder. However, its return comes from it being...

APR

An abbreviation for annual percentage rate; it is the interest rate (charged for borrowing or made by investing) as calculated...