Term Financial Meaning
Amortisation Chart It is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator. Amortization is the process of paying off a debt (often from a mortgage or loan) over time through regular payments.
Subvention A grant of money, especially from a government
Loan Conversion An arrangement whereby a loan can either be converted into equity or the interest rates can be converted from fixed to floating or vice versa
Balance Transfer A process where a customer can transfer his outstanding principal amt. to another bank or financial institute for a better int. rate or features
Surrogate Scheme Surrogate banking scheme is to provide Personal or Unsecured loans for self employed individuals who own a property (house) in their name and are not filing any Income tax returns
Top Up Loan A top-up loan is additional funding that can be obtained from a bank based on an existing loan engagement with the same bank
Industry Margin Average profit margin in a particular industry
Equifax One of the 3 largest consumer credit reporting agency in the USA
Disbursement The payment of money from a fund.
Margin Money Margin money is an upfront down payment that reassures the lender of the borrower’s financial stability and commitment.
Assignment An amortization chart is a table detailing each periodic payment on an amortizing loan (typically a mortgage), as generated by an amortization calculator.Amortization is the process of paying off a debt (often from a mortgage or loan) over time through regular payments.
Pledge A thing that is given as security for the fulfillment of a contract or the payment of a debt and is liable to forfeiture in the event of failure.
Hypothecation Hypothecation is the practice where a debtor pledges collateral to secure a debt or as a condition precedent to the debt, or a third party pledges collateral for the debtor
On Road Price On top of the ex-showroom price, one needs to pay a lifetime road tax, a registration charge, insurance charge that is renewed periodically and logistics charges. In short, an on-road price is at which the dealer would hand over the keys of the vehicle to you.
Off Road Price It is the cost that the dealer pays for procuring the car from the manufacturer and the tax that it pays to the state government on the procurement of car.
Fintech Computer programs and other technology used to support or enable banking and financial services.
Lien It is a right to keep possession of property belonging to another person (loan borrower) until a debt owed by that person is discharged (loan is closed).
Non Starter A loan borrower who has not paid single EMI till date.
Write Off A write-off is a reduction of the recognized value of something. In accounting terms, this is a recognition of the reduced or zero value of an asset. In income tax statements, it refers to the reduction of taxable income, as a recognition of certain expenses required to produce the income.
Non Performing Asset A non performing asset (NPA) is a loan or advance for which the principal or interest payment remained overdue for a period of 90 days