The fee charged for services performed, usually based on a percentage of the price of the items sold such as the fee a real estate agent earns on the sale of a house. Heres a quick list of banking terms and their definitions. Knowledge and skill testing is based on many of these terms. Personal finance terms and definitions flashcards quizlet. Retail banking services offered for a low monthly fee for depositors. Basic indicator approach one of three methods for quantifying capital required for operational risk under proposed basel ii capital rules. The terms of the written power of attorney may specify when it will expire. Banks may also provide financial services, such as wealth management, currency exchange and safe deposit boxes. Basic investment terms annuity a financial product sold by financial institutions pay out a stream of payments to the individual at a later point. A term referring to the refund of previously paid prop erty taxes due to the overvaluation of property. But there are still legal phrases that baffle nonlawyers. Most of the indian banking terms and definitions are similar to other countries.
Therefore, banking is an important auxiliary to trade. It terms glossary information technology definitions. A bank is a financial institution licensed to receive deposits and make loans. Today i am providing basic financial and banking terms. These banking terms for interview pdf will help a lot to acquire basic banking knowledge. Here we are giving 25 most common basic banking concepts terms and definitions.
Some people may receive a reduced basic state pension because. The equation that is the basis of the balance sheet. Dec 22, 2015 read on for definitions of common commercial banking terms, so the next time you talk to your banker, youll be speaking the same language. A peripheral device that reads and or writes information on a disk.
High yield baking measurements and substitutions high yield baking resources and references. Be familiar with these basic banking and credit terms. Agent the insurance company representative who sells policies on behalf of the insurer. Account reconciliation the act of confirming that the balance in ones checkbook register matches the corresponding bank statement. The a to z guide to legal phrases plain english campaign. It facilitates business activities by providing money and certain services that help in exchange of goods and services. This az pocket guide to understanding financial terms is just one of the achievements of ebss partnership with nala. Banking as an activity involves acceptance of deposits and lending or investment of money. The act of storing data for fast retrieval is called caching. A parcel of land, containing 4,840 square yards or 43,560 square feet.
Some institutions require that you use the bank s power of attorney forms. Annual percentage rate apr the yearly rate that is charged for borrowing, which represents. Defined by fasb as shortterm, highly liquid investments that are both. This wealthhow article presents to you a glossary of banking terms and definitions that might help resolve your doubts. Usually the grade aaa is given to the best debt obligation or a security, by a credit rating agency. The theory depends on several strong assumptions including an absence of international capital mobility, and a supplyconstrained economy. We, us, or our refers to lnterbank and any agent, independent contractor, designee, or assignee lnterbank may involve in the providing of online banking. When rbi provides a loan to the bank for shortterm between 1 to 90 days, rbi takes some interest from the bank. We have written this a to z guide to help you to understand some of the terms you will come across when you buy a house, go into business, take out insurance, invest your money and do all the other things you might have to do in your lifetime. Basic computer terms hardware the physical parts of a computer cpu. Digital financial services basic terminology general terms branchless banking definition the delivery of financial services outside conventional bank branches. Very useful for engineers preparing for bank exams.
Glossary of banking terms and definitions wealth how. In addition you can elect to receive ebills electronic versions of your paper bills from your bank credit card and a variety of companies currently offering ebills. The bank may refer to this as a durable power of attorney. In addition you can elect to receive ebills electronic versions of your paper bills from your bank credit card and a variety of companies currently offering e. Banking definitions and basic acronyms used in banking. Lesson 15 banking national institute of open schooling. Banking 3 lesson 15 banking while walking in the streets of any town or city you might have seen some signboards on buildings with namescanara bank, punjab national bank, state bank of india, united commercial bank. An independent agent represents more than one company. The payment history of an account over a specific period of time, including the number of times the account was past due or over limit. Both a way of life and a means of life for the people involved in. Services are governed by the terms and conditions set forth in the document below.
Start studying personal finance terms and definitions. Overview of financial markets the meaning of the term financial system the evolution of the structure and constituents of the indian financial system. Pdf complete list of banking terms with definitions for. Banking terms that begin with a banking terms banking definitions aaa aaa is a term or a grade that is used to rate a particular bond. A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institutions web site on the internet. Basic investment terms creative capital management. Like a quick guide for new employees, to help understand acronyms and. Glossary of banking and credit terms financial web. This banking terminology pdf will help a lot to acquire basic banking knowledge and can act like a basic banking terminology dictionary. Do take the time to read them as they are binding to you. Basic banking terms and definitions pdf free download.
Banks may also provide financial services, such as wealth management, currency. Below are the basic banking terminology one must know. As the big banks continue to move away from nofee basic banking services, fcbs reintroduction of feefree checking for its personal banking customers is the latest example of how the floridafocused, customercentric bank with 50 banking centers statewide is providing individuals with the services that best suit their needs. Basic banking financial definition of basic banking.
Assets resources with economic value owned by a company, fund, or individual. Banks using the basic indicator approach must hold capital for operational risk equal to the average over the previous three years of a fixed percentage of positive annual gross income. Total allowance for credit losses consists of specific and general allowances. Below are the basic banking terms and definitions one must know. Basel committee on banking supervision basel i basel ii basic balance basic banking service basic commodities basic discount basic wage batch header record batch number bax contract bay street bear cd bear covering bear position bear squeeze bedpepping belly up below market belowtheline expenditure benchmarking beneficial occupier beneficial. Definitions of key terms and phrases used in commercial, retail and investment banking and bank regulation. You may wish to provide each student with this glossary as a reference. Annual percentage rate apr the yearly rate that is charged for borrowing, which represents the annual cost of funds over the term of the loan. Knowing and understanding the terms that are on your bank and credit card statements can possibly save you dollars every month.
Usually the grade aaa is given to the best debt obligation or. A peripheral device that reads andor writes information on a disk. In the case of a mortgage, the collateral would be the house and real property. While many of us are aware of basic banking terms, there is a plethora of confusing technical terminology associated with banking and finance. The utilization of biological processes on farms to produce food and other products useful and necessary to man. Complete list of banking terms with definitions for bank exams. Here we are giving 25 most common basic banking terms and definitions. A service that oversees, measures, and evaluates financial information for decision making purposes. A service that oversees, measures, and evaluates financial information for decision making. When youre dealing with your finances, unfamiliar words and acronyms can make complicated processes even more confusing. The basis of accounting under which revenues are recorded when earned and expenditures are recorded as soon as they result in liabilities for benefits received.
The a to z guide to legal phrases this is only a basic guide. Save as banking terminology pdf or basic banking terms pdf by saving in this name you can easily recognize the file later. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms. When youre dealing with your finances, unfamiliar words and acronyms can. We have written this a to z guide to help you to understand some of the terms you will come across when you buy a house, go into business, take out insurance, invest your money and do all. Basic financial and banking terms download pdf published on tuesday, april 18, 2017. There is no charge for basic personal online banking. You or your the persons subscribing to or using online banking.
Banking terms banking definitions aaa aaa is a term or a grade that is used to rate a particular bond. A record that holds the results of financial transactions. The contract governing your openend credit account, it provides information on changes that may occur to the account. Internet explorer and firefox have options for defining both memory and disk cache. Here terms are given and their definitions are also updated soon. For example, basic banking services may include the ability to write a stated number of checks and visit a teller a given number of times. Read on for definitions of common commercial banking terms, so the next time you talk to your banker, youll be speaking the same language. A banking expression used to describe the total sum of assets represented by cash, funds on deposit with the federal reserve bank, funds on deposit with correspondent banks, and items in transit to those banks. The activities carried on by banks are called banking activity. Banking terms and concepts are many and can sometimes be difficult to figure out, even for the industry professionals. The explanations in this guide are not intended to be straight alternatives. Learn vocabulary, terms, and more with flashcards, games, and other study tools.
Standard terms and conditions, sets out the general terms and conditions of our personal and electronic banking relationship with you. Apr 18, 2017 in a series of providing free study material for sbi po exam. Here we are providing you, 50 important banking terms useful for upcoming bank exam interview in an easy way. Any and all persons designated and authorized to transact business on behalf of an account. It is the highest rated bond that gives maximum returns at the time of maturity. Basic banking originated in the 1980s with increased pressure to provide more affordable services. Competition occurs between different companies trying to produce and sell the same good or service. Banking beyond branches uses agents or other thirdparty intermediaries as the primary point of contact with customers and relies on technologies such as cardreading point. A nongaap financial measure used to assess each of the banks businesses and to measure the banks overall performance. Foreword adult basic education, the organisations are working together to help tackle financial literacy and to address the issue of access to financial products and services for those with literacy and numeracy difficulties.21 478 235 391 946 1193 1125 1142 438 764 1209 133 823 1298 245 1088 787 599 474 1209 1556 41 953 1057 1009 1005 977 325