| Debit Card |
A card that allows purchases to be deducted directly from your personal checking account. |
| Debt Consolidation (Loan) |
A personal loan allowing you to amalgamate various debts into one, so that you only have one monthly payment at a lower interest rate. |
| Default |
Failure to fulfill an agreed-upon financial obligation, such as making a loan payment. |
| Deferred Annuity |
An annuity that pays at a future date—usually for at least one year. |
| Deferred Interest Mortgage |
A mortgage in which the interest isn’t charged and instead added to the outstanding mortgage in early years; geared toward young professionals whose salaries will increase and/or at times of high interest rates. |
| Deflation |
The opposite of inflation; a persistent price decline of goods and services, usually occurring during a recession when supply exceeds demand. |
| Delinquency (30, 60 or 90 days) |
Past-due payment on a loan. |
| Dependant |
A family member who relies on another person for support (especially financial support). |
| Deposit |
A down payment; a partial payment made at the time of purchase with the balance to be paid later. |
| Discretionary Income |
The money you have left over when all expenses and other financial obligations are paid. |
| Disposable Income |
Money left over after taxes are deducted. |
| Dispute |
To question the accuracy of information on a credit report. |
| Double Indemnity |
A clause, in life or accident policies, which provides twice the standard policy benefits for death or injury occurring in certain circumstances. |
| Early Redemption Penalty |
A fee that is sometimes imposed if a loan is paid back earlier than previously agreed. |
| Early Repayment Charge |
A charge applied if the amount of a loan is repaid in full or in part before a date specified in the contract. |
| Equity Release |
A type of mortgage in which the borrower owns a house outright and wishes to use the value of the property as security against a loan. |
| Escrow |
Money, securities, or other assets that are held by a neutral third party until a contract's conditions are met. |
| Family Income Policy |
An insurance policy that supplements a household's income by combining ordinary life and decreasing term insurance. |
| Federal Reserve |
The central bank of the United States, which regulates rates for many commercial banks. |
| Fixed Rate |
The rate of interest charged does not move up and down with the general interest rate, but is fixed. |
| Fixed Rate Mortgages |
A mortgage in which the interest rate is set or fixed for the term of the loan. |
| Foreclosure |
A legal process in which property/real estate is used as collateral for a loan and sold to help repay a defaulted loan. |
| Fund Manager |
A professional who invests and manages the assets of others, deciding what shares or bonds should be bought or sold. |
| Fund Supermarkets |
An online distribution channel offering potentially thousands of different funds from a wide selection of individual fund managers. |
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