4 Terms
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General banking
Banking related terms and phrases in general.
Industry: Banking
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General banking
refund
Banking; General banking
An amount paid back because of an overpayment or because of the return of an item previously sold.
regular program community
Banking; General banking
A community wherein a Flood Insurance Rate Map is in effect and full limits of coverage are available under the Flood Disaster Protection Act (FDPA or Act).
renewal
Banking; General banking
A form of extending an unpaid loan in which the borrower's remaining unpaid loan balance is carried over (renewed) into a new loan at the beginning of the next financing period.
residual interest
Banking; General banking
Interest that continues to accrue on your credit card balance from the statement cycle date until the bank receives your payment. For example, if your statement cycle date was January 10 and the bank ...
return item
Banking; General banking
A negotiable instrument—principally a check—that has been sent to one bank for collection and payment and is returned unpaid by the sending bank.
reverse mortgage
Banking; General banking
A reverse mortgage is a special home loan product that allows a homeowner aged 62 or older the ability to access the equity that has accumulated in their home. The home itself will be the source of ...
