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Definitions (55)
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Variable Interest
An amount earned on funds to be paid on top of a principal calculated as a percentage that changes throughout the term of the loan
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Transaction account
An account that allows frequent access to funds through deposits, withdrawals and transfers.
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stamp duty
A tax imposed by a state or territory government incurred upon purchasing a property or business.
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term deposit
A deposit held with a financial institution that has a fixed term with maturities ranging from a month to few years > See Macquarie's Term Deposits
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Redraw facility
A feature that allows a borrower to access excess funds that have been paid towards a loan. > more
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Reserve Bank of Australia
Australia's central bank. In addition to setting the official cash rate
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SECURITY
An asset which a borrower uses to secure funding from a lender. In the event that the borrower cannot repay their debt, this asset can be acquired by the lender.
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Product disclosure statement
A document provided to a client containing details of the financial product subject to legislation.
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REAL ESTATE
A tangible property asset consisting of land and/or buildings.
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PRINCIPAL
The amount borrowed to be repaid.
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