Credit Card
A credit card is a system of payment that lets the cardholder to pay for products and services based on the promise to pay for them. The credit card is based on the revolving...
Category: Banking
Home Equity Loan
Home equity loan refers to a loan in which the borrower utilizes the equity or ownership in his/her home as a collateral. Borrowers generally take out home equity loans to fund significant expenses like...
Term Deposit
Term Deposit refers to a deposit kept with a bank for a fixed term. The maturities for term deposit range from between a month to a few years. Once a customer buys a term...
Credit Card Balance
Definition: A credit card balance is the amount of charges, or lack of that, payable to the credit card company. Typically, it may take about 24 hours for the credit card company to update...
Certificate of Deposit
A certificate of deposit is a term deposit, which can be defined as financial product widely accessible to consumers in the United States offered by banks, thrift institutions and credit unions. Just like savings...
Credit Card Interest
Credit card interest is one of the most important means through which credit card issuers generate revenue. A card or an account number is issued by a bank or credit union which enables a consumer (the cardholder) to use it with various...
Prime Rate
Prime rate or prime lending rate is a term which is used in many countries for referring interest rate charged by banks to each other. The term earlier signified the rate of interest at which banks lent to...
Checking Account
A deposit account which is held at bank or financial institution by individuals/business entities (account holders), offering them secured and swift access to funds on demand, through a variety of different channels, is called...
Bank
A bank is a financial institution that accepts deposits and uses the money for lending it individuals and/or businesses, directly or indirectly. It is basically a financial intermediary that connects customers that are in need...