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Student banking

banking terms

QuestionAnswer
A payment into your account or the money availbale to you Credit
A ordinary bank account that pays a small amount of interest or no interest. Current account
Money that you borrow and must be paid back with interest Loan
The length of time that money is loaned. It must be paid back at the end of the term. Term
Annual rate of interest payable APR
when money is withdrawn from a bank account and the available balance goes below zero Overdraft
The payment made for borrowing money in addition to the repayments Interest
Paying out an amount of money from your account. Debit
when money is withdrawn from a bank account and the available balance goes below zero
Created by: biologyreading
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