define explain d

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
D

Debit – Money that is withdrawn from an account.

Debt – An obligation to pay a specified sum of money to another party.

Debtor – An individual that owes money to a creditor.

Default – The term used to describe a failure to meet the terms of a loan agreement, typically by falling behind in repayments.

Default rate – The rate of interest applied when repayments are not made or the facility exceeds its limits.

Deferred establishment fee – A charge that be be levied if a loan is cleared before the prescribed term has expired.

Depreciation – The value an asset loses over its anticipated lifetime.

Direct debit – A payment made electronically direct from a bank account, generally at a predetermined date.