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10 terms

Money & Banking

Vocabulary for personal finances, money and banking
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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