Banking (common words/expressions) - vocabulary matching 1
📚 Key vocabulary
collateral — an asset pledged by a borrower as security for a loan, which the lender can seize if the loan is not repaid
interest rate — the percentage charged on a loan or paid on a deposit, typically expressed as an annual rate
liquidity — the ease with which an asset can be converted into cash without significantly affecting its value
credit rating — an assessment of a borrower's ability to repay debt, assigned by a credit agency
overdraft — a situation where a bank account balance falls below zero, allowing withdrawals beyond available funds
prime rate — the benchmark interest rate that commercial banks charge their most creditworthy customers
wire transfer — an electronic method of transferring funds directly from one bank account to another
certificate of deposit (CD) — a savings product that holds a fixed amount of money for a fixed period in exchange for a higher interest rate
compound interest — interest calculated on both the initial principal and the accumulated interest from previous periods
mortgage — a loan secured by real estate property, typically repaid over 15 to 30 years
collateral — an asset pledged by a borrower as security for a loan, which the lender can seize if the loan is not repaid
interest rate — the percentage charged on a loan or paid on a deposit, typically expressed as an annual rate
liquidity — the ease with which an asset can be converted into cash without significantly affecting its value
credit rating — an assessment of a borrower's ability to repay debt, assigned by a credit agency
overdraft — a situation where a bank account balance falls below zero, allowing withdrawals beyond available funds
prime rate — the benchmark interest rate that commercial banks charge their most creditworthy customers
wire transfer — an electronic method of transferring funds directly from one bank account to another
certificate of deposit (CD) — a savings product that holds a fixed amount of money for a fixed period in exchange for a higher interest rate
compound interest — interest calculated on both the initial principal and the accumulated interest from previous periods
mortgage — a loan secured by real estate property, typically repaid over 15 to 30 years
READY TO PRACTICE? LET’S GO!
Match each definition with the letter of one of the following:
a - teller
b - to cash a check
c - to make a withdrawal
d - to make a deposit
e - to bounce a check
f - wire transfer
g - transaction
h - balance
i - branch
j - annual
1. a method of transferring money between accounts, people, etc. → ✓
2. a bank employee that deals directly with customers, receiving and paying out money → ✓
3. the amount of money in a bank account → ✓
4. to receive cash in exchange for a check → ✓
5. to write a check while not having enough money in one's account to cover it, resulting in the check not clearing, and the person who received the check not getting paid → ✓
6. any activity (withdrawal, deposit, etc.) performed by the holder of an account → ✓
7. to add money to an account → ✓
8. a subsidiary of a bank → ✓
9. yearly → ✓
10. to take out money from an account → ✓
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