loan terms

2. A card that lets you borrow money from a bank to pay for things now and pay it back later.
5. The percentage you pay on top of the money you borrow.
7. is something of value that a borrower promises to give the lender if they can’t repay the loan.
10. An interest rate that can change over time.
12. A long-term loan used to buy a house or property.
13. eplacing an old loan with a new one, usually for a better interest rate.
14. The person or company that gives out the money (like a bank).
15. How long you have to pay back a loan.

1. A card that takes money directly out of your bank account when you spend it.
2. An item of value (like a house or car) the lender can take if you don’t repay a loan.
3. A set period of time where something (like a loan or interest rate) cannot change.
4. The original amount of money you borrow—not including interest.
6. An interest rate that stays the same for the whole term.
8. Money borrowed that must be paid back, usually with interest.
9. The person who takes money from a lender and must pay it back.
11. The maximum amount you are allowed to borrow or spend.
16. The chance that something could go wrong, especially when dealing with money.