Loan Terminology

2. A card that lets you borrow a certain amount of money
5. The percentage charged by a lender for borrowing money or earned by saving money
7. The amount of safety you take with your money
10. The interest rate that changes by the market
12. A loan used to buy a property
13. Changing the way you pack back the bank
14. A person or organisation like a bank that gives money to someone with the agreement that it will be paid back
15. The amount of time it takes you to pay back your money

1. A card linked directly to your bank account that allows you to spend your own money electronically
2. An asset pledged by a borrower to secure a loan if the borrower doesn’t repay, the lender can take the collateral
3. A set period of time for a loan or investment that doesn’t change
4. The original amount of money borrowed or invested, not including interest
6. An interest rate that stays the same for the entire term of the loan or investment
8. Money that is borrowed and must be repaid, over a set amount of time
9. Someone who borrows money from someone
11. The Maximum amount of money
16. The chance that something bad or unexpected might happen.