D–F

• Debit Card – A card linked to your checking account for purchases and ATM withdrawals.

• Direct Deposit – Automatic electronic deposit of paychecks or government benefits into your account.

• Disclosures – Documents that explain the terms, fees, and conditions of banking services.

• FDIC (Federal Deposit Insurance Corporation) – A U.S. government agency that insures deposits up to $250,000 per account holder, per bank.

• Fees – Charges for specific banking services (e.g., overdrafts, wire transfers).

• Fixed Rate – An interest rate that doesn’t change during the loan or CD term.

• Fraud Alert – A notice placed on your account if suspicious activity is detected.

G–L

• Grace Period – The time you have to pay off a credit card balance before interest is charged.

• Home Equity – The difference between your home’s value and the amount you owe on your mortgage.

• Interest – The cost of borrowing money or the earnings from deposits.

• IRA (Individual Retirement Account) – A retirement savings account with tax advantages.

• Line of Credit – A flexible loan that allows you to borrow up to a set limit as needed.

• Liquidity – How easily assets can be converted into cash.

• Loan-to-Value Ratio (LTV) – The size of a loan compared to the appraised value of the property.

M–R

• Minimum Balance – The lowest amount required to keep an account open or avoid fees.

• Mobile Banking – Managing your accounts using a smartphone app.

• Mortgage – A loan used to purchase or refinance real estate.

• Overdraft – When you spend more money than you have in your account.

• PIN (Personal Identification Number) – A secure number used with debit/ATM cards.

• Principal – The original amount of money borrowed or invested, excluding interest.

• Rate – The percentage charged for loans or earned on deposits.

• Recurring Payment – An automatic payment set up for bills or subscriptions.

S–Z

• Savings Account – An account designed to hold money and earn interest over time.

• Secured Loan – A loan backed by collateral.

• SWIFT Code – An international bank code used for sending money abroad.

• Term – The length of time for a loan or CD.

• Unsecured Loan – A loan not backed by collateral (e.g., personal loans, credit cards).

• Variable Rate – An interest rate that can change over time based on the market.

• Wire Transfer – An electronic way to send money quickly, often internationally.

• Yield – The earnings from an investment or savings account.