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Curiosity charge – A fee that a lender will cost borrowers so as to borrow cash from them. It's expressed in percentage % for each annum.

FDIC or Federal Deposit Insurance coverage Company – Usually website a federal company which insures a customer’s deposit inside their financial savings and for just a personal loan of as much as $a hundred,000 For each account. These deposits will consist of price savings and checking accounts in addition to deposit certificates.

Secured financial loan – It is a financial loan in which the borrower will pledge his asset like a car or property that can be marketed if He's unable to pay back again the loan.

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