BANKING TERMINOLOGY

5. Loans used to buy homes or other real estate properties. They are repaid over many years with interest.
8. The annual cost of borrowing money, including interest and fees, expressed as a percentage of the total loan amount.
9. Checks issued by a bank, guaranteed by the bank's funds, and usually used for large purchases or payments where a personal check might not be accepted.
10. Cards linked to your checking account that allow you to make purchases or withdraw cash directly from your account.
11. A card that allows you to borrow money up to a certain limit to make purchases. You must repay the borrowed amount, usually with interest if not paid in full each month.
14. A card that allows you to access your bank account through an ATM to withdraw cash or perform other transactions.
15. An account where you can deposit money to save for future needs or emergencies. Typically, it earns interest over time.
17. A financial institution where you can deposit your money, take out loans, and manage your finances.
18. An account used for everyday transactions like paying bills, making purchases, and withdrawing cash. You can usually access your money easily with checks or a debit card.

1. Loans that are repaid over time with a fixed number of scheduled payments, usually monthly. Examples include car loans and student loans.
2. Cards that are loaded with a specific amount of money in advance and can be used for purchases until the balance runs out.
3. A type of savings account that typically offers higher interest rates than regular savings accounts. It may require a higher minimum balance and may limit the number of withdrawals.
4. A payment method where you purchase a document for a specific amount, which can then be cashed by the recipient.
6. A set amount of money that a lender agrees to lend to a borrower. The borrower can access funds up to the credit limit but only pays interest on the amount borrowed.
7. The fee charged by a lender for borrowing money or the amount earned on savings or investments.
9. A savings account with a fixed term and fixed interest rate. You agree not to withdraw the money for a set period of time in exchange for higher interest rates.
12. Similar to a bank, but owned and operated by its members, usually people who live or work in a particular area.
13. Accessing your bank account, transferring money, paying bills, and managing finances through the internet.
16. A machine that allows you to perform banking transactions like withdrawing cash, depositing money, or transferring funds electronically.