Money & Banking

10 terms by carldowse 

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Vocabulary for personal finances, money and banking

loan

money lent: a sum of money that is expected to be paid back

interest

money earned from investments, or money paid at a particular rate for the use of money lent

current account

account used for day-to-day banking

deposit

put money into a bank account

mortgage

loan to buy property (real estate)

withdraw

take money out of a bank account

overdraft

short-term loan that allows a bank account holder to spend more than is in the account

transaction

a business deal done, or any transfer of money in or out of a bank account

payment card

a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase

savings account

bank account used for investment

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