The amortisation period on a mortgage is the total length of time it will take you to pay off your mortgage.

The term bad debts usually refers to accounts receivable (or trade accounts receivable) that will not be collected.

A cash advance fee is a charge that a credit card issuer charges a customer for accessing the cash credit line on his or her account, either through an ATM, convenience check or at a bank’s teller window.

The grace period is the provision in most loan and insurance contracts which allows payment to be received for a certain period of time after the actual due date. During this period no late fees will be charged, and the late payment will not result in default or cancellation of the loan.

Funds taken out of earnings to provide for anticipated future payments is called Reserve Account.

The Difference between the market value of a collateral and amount of the loan advanced against it. Margin Amount is also known as haircut.

A non-recourse debt is a type of loan that is secured by collateral, which is usually property. If the borrower defaults, the issuer can seize the collateral, but cannot seek out the borrower for any further compensation, even if the collateral does not cover the full value of the defaulted amount.

Prepayment or pre-closure of a loan implies to the early repayment of a loan, in part or in full. Prepayment is done to reduce the tenure of the loan as well as the interest.

Repossession is a term used to denote a financial institution taking back an object that was either used as collateral or rented or leased.

A syndicated loan is a loan offered by a group of lenders (called a syndicate) who work together to provide funds for a single borrower. The borrower could be a corporation, a large project, or a sovereignty (such as a government). The loan may involve fixed amounts, a credit line, or a combination of the two.