Tag Archives: banking definitions

Banking Terms You May Find Useful

December 28th, 2010

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The following are some general terms and definitions that can be used to help you better understand your personal finances.*

APY: (Annual Percentage Yield) Denotes the total interest that could be earned if the funds remained in the account for a year. Most commonly used on savings accounts, CDs, and other interest bearing accounts. Does not require deposits to remain in account for a year to accrue interest (financial institutions may calculate earnings monthly, quarterly, etc.)… ATM: (Automated Teller Machine) Accessed with use of your financial providers debit or credit card…

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