Banking

Banking

The business of a banker, banking involves an establishment for the loaning, holding, exchanging, or issuing of money. Also deals with the transmission of funds and the extensions of credit.

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Banking > General banking

late charge

Banking; General banking

The fee charged for delinquent payment on an installment loan, usually expressed as a percentage of the loan balance or payment. Also, a penalty imposed by a card issuer against a ...

lease

Banking; General banking

A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent).

lender

Banking; General banking

An individual or financial institution that lends money with the expectation that the money will be returned with interest.

lien

Banking; General banking

Legal claim against a property. Once the property is sold, the lien holder is then paid the amount that is owed.

line of credit

Banking; General banking

A pre-approved loan authorization with a specific borrowing limit based on creditworthiness. A line of credit allows borrowers to obtain a number of loans without re-applying each ...

loan-to-value ratio (LTV)

Banking; General banking

The ratio of the loan principal (amount borrowed) to the appraised value (selling price). For example, on a $100,000 home, with a mortgage loan principal of $80,000, the ...