Terms with Tag Banking
- Periodic Rate — Definition,
- The interest rate in relation to a specific amount of time. For example, the monthly periodic rate is the cost of credit per month whereas the daily periodic rate is the cost of credit per day.
- Permanent Interest Bearing Shares (PIBS) — Acronym,
- Personal and Commercial (P&C) — Acronym, Important,
- Personal Consumption Spending — Definition,
- What households collectively spend on goods and services.
- Personal Disposable Income — Definition,
- Personal income minus personal income tax payments. Also called "take-home pay."
- Personal Finance Manager — Definition,
- Specialized computer programs that help customers carry out a variety of personal finance activities. These programs typically allow consumers to do much of their work off-line, then dial in to complete their bank transactions.
- Personal Identification Number (PIN) — Acronym, Important,
- A unique, confidential number or pass code, usually consisting of four to six digits, entered by a customer when using an Automated Teller Machine (ATM) or Interac Direct Payment, that gives the customer access to his or her account.
- Personal Line of Credit (PLC) — Acronym,
- Personal Loan — Definition,
- A loan made for personal, family, or household use as opposed to a business-type loan or a long-term mortgage loan to finance real estate.
- Personal Property Taxes — Definition,
- Tax paid on real property, intangible, or tangible property. To differentiate between real property and personal property, the tax assessing official must consider the manner in which property is attached to or secured at the location. Also called property taxes.
- Personal Savings — Definition,
- The difference between personal disposable income and personal consumption spending.
- Put own money away.
- Personal Savings Account (PSA) — Acronym,
- Personalized Cheque — Definition,
- A cheque which has your name and account number printed on it.
- Peterborough Community Credit Union (PCCU) — Company Est. 1939, Peterborough, Ontario, Canada,
- Pierceland Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Pincher Creek Credit Union (PCCU) — Company, Alberta, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Plainsview Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Point — Definition,
- A point equals 1 percent of a mortgage loan. Some lenders charge "origination points" to cover expenses of making a loan. Some borrowers pay "discount points" to reduce the loan's interest rate.
- Policy — Definition,
- A set of rules or guidelines.
- An insurance contract.
- Policy Loan — Definition,
- A loan where a life insurance policyholder's death benefit is used as collateral.
- Polish (London) Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Polish (St. Catharines) Credit Union — Company, Ontario, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Porcupine Credit Union — Company, Saskatchewan, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Portage Credit Union (PCU) — Company, Manitoba, Canada, ➥ A Canadian NHA approved mortgage lender that offers all lending types, including both residential single family and multi-unit mortgages.
- Portfolio — Definition,
- A collection of investments.
- Portfolio Lender — Definition,
- A company that underwrites mortgage loans and keeps them on the books instead of selling them on the secondary market.
- Possession — Definition,
- Something that is owned.
- The condition of having signed all the papers at closing and having received keys to the house.
- Posted Rate — Definition,
- The mortgage rates initially offered by a bank which a borrower is then expected to negotiate down.
- Powell River Credit Union (PRCU) — Company Est. 1939, Powell River, British Columbia, Canada, ➥ Now called First Credit Union.
- Power of Sale — Definition,
- The right of a mortgagee to force the sale of the property without judicial proceedings should default occur.
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