Financial terms related to bank accounts, savings, interest rates, and basic banking.
The yearly cost of borrowing expressed as a percentage, including interest and fees.
The effective annual return on savings or investments accounting for compound interest.
Anything of economic value owned by an individual or organization.
A financial statement showing assets, liabilities, and net worth at a specific point in time.
A large lump-sum payment due at the end of a loan term.
A person designated to receive assets from an account, trust, or insurance policy.
A savings account with a fixed term and fixed interest rate, higher than regular savings.
An asset pledged as security for a loan; forfeited if the borrower defaults.
The rate at which one currency can be exchanged for another in foreign exchange markets.
Assets expected to be converted to cash within one year.
The value of ownership in an asset minus any debt owed against it.
The interest rate at which banks lend to each other overnight; set by the Federal Reserve.
The global market where currencies are traded against each other.
A savings account offering significantly higher interest rates than traditional banks.
A tax-advantaged account for medical expenses, available with high-deductible health plans.
The cost of borrowing money or the return on savings, expressed as a percentage.
A bank or investment account shared by two or more people, each with full access.
A financial obligation or debt owed to another party.
How quickly and easily an asset can be converted to cash without losing value.
The original amount of money borrowed or invested, before interest.
A bank account for storing money with interest, FDIC-insured and easily accessible.
Interest calculated only on the principal, not on accumulated interest.
The process of matching your records with the bank's records to ensure accuracy.
One one-hundredth of a percent (0.01%); used to express small percentage changes.
The legal document naming who receives assets from an account upon your death.
The interest rate offered on a Certificate of Deposit over its term.
Automatic transfer of your paycheck or benefit payments directly to your bank account.