Across
- 6. The person or company that gives out the loan.
- 7. The person who takes out the loan and must repay it.
- 8. The chance that something could go wrong, like not being able to repay a loan.
- 10. An asset (like a car or house) that can be taken if the loan isn’t repaid.
- 13. An amount of money borrowed that must be repaid with interest.
- 14. A loan or deposit that lasts for a set period of time. Term
- 16. An interest rate that can go up or down over time.Interest
Down
- 1. A card that lets you borrow money up to a set limit to make purchases.
- 2. The original amount of money borrowed before interest is added.
- 3. The percentage a lender charges for borrowing money.
- 4. A special type of loan used to buy a house.
- 5. A card that takes money directly from your bank account when you spend.
- 8. Replacing an old loan with a new one, usually to get a better deal.
- 9. Something valuable used to guarantee a loan will be repaid.
- 11. The maximum amount of money you can borrow or spend.
- 12. The length of time you have to repay the loan.
- 15. An interest rate that stays the same for the whole loan term.Interest