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Savings & Investment

Key words and terms for Savings & Investment for Business

TermDefinition
Savings is money not spent
Investment is putting money where it will grow and generate income in the future
DIRT - Deposit Interest Retention Tax is a tax on the interest earned on your savings
Simple Interest is a percentage of the amount of money you have put into the account
Compound Interest is a percentage of the total amount in the account at the end of each year
AER (Annual Equivalent Rate) is the actual rate of interest you are receiving on your savings or investment from a financial institution
Building Society is a financial institution that provides a wide range of banking services to their customers
Credit Union is a co-operative organisation where people save regularly and lend to each other at low rates of interest
An Post is a state-owned provider of postal/communication/money & retail services to its customers
Deposit Account is an account where you can save your money and earn interest
Created by: pdsteconomics
Popular Economics sets

 

 



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