banking | Françoise Clementi

mobile banking

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Mobile banking is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as

maintenance fee

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Sum charged by financial institution to the holder of a bank account.

Deposits whose term is longer than a year are considered long-term. (Read more: Definition of Long Term Deposits | eHow.com http://www.ehow.com/about_6108561_definition-long-term-deposits.html#ixzz2K1LCWCQ8)

loan amortization

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Repayment of a loan to the lender with interest. Based on the loan’s amount, interest rate, and length, a monthly payment is determined that the

loan application fee

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fee charged to process an application for a loan, such as a home mortgage from a lender or mortgage broker. (source: http://www.investopedia.com/terms/l/loan-application-fee.asp#ixzz26SUCtlH7)

loan approval

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Formal authorization, usually from a bank, to get a loan. .(source: thefreedictionary.com )

loan officer

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Employee of a microfinance institution that manages a portfolio of loans customers (credit application evaluation, monitoring, recoveries,..).

loan agreement

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Formal document that evidences a loan. It may also include negative and positive covenants, type and value of the collateral pledged, guaranties, financial reporting requirements,

line of credit [LOC]

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An arrangement between a financial institution, usually a bank, and a customer that establishes a maximum loan balance that the bank will permit the borrower