A certificate of deposit (CD) is a savings certificate with a fixed maturity date, specified fixed interest rate and can be issued in any denomination aside from minimum investment requirements. … CDs are generally issued by commercial banks and are insured by the FDIC up to $250,000 per individual.
Read MoreThe stock market allows companies to raise money by offering stock shares and corporate bonds. It lets investors participate in the financial achievements of the companies, making money through dividends. … Investors also make a profit by selling appreciated stocks.
Read MoreAn unsecured loan is money that you borrow without using collateral. Due to the lack of collateral, the lender faces a higher level of risk. Because of this, the interest rate may be higher and the borrowing limit may be lower. Common examples of unsecured loans include credit cards and personal lines of credit.
Read MoreSecured loans are loans backed with something of value that you own. This is called collateral. Common examples of collateral include your vehicle or other valuable property such as jewelry. If you’re approved for a secured loan, the lender will hold the title or deed to the collateral or places a lien on the collateral […]
Read MoreA title loan is a loan where an asset is required as collateral, popularized due to two key reasons. First, title loans do not consider an applicant’s credit rating when determining qualifications, and second, title loans, thanks to looser application requirements, can be approved very quickly for loan amounts of as little as $100.
Read MoreThe term “annual percentage rate” is commonly used in reference to financial products such as mortgages, credit cards and personal loans. Broadly speaking, APR is the sum of the interest rate plus extra fees, also known as finance charges, calculated on a yearly basis and expressed as a percentage. If there are no fees, the […]
Read MoreThe term “annual percentage rate” is commonly used in reference to financial products such as mortgages, credit cards and personal loans. Broadly speaking, APR is the sum of the interest rate plus extra fees, also known as finance charges, calculated on a yearly basis and expressed as a percentage. If there are no fees, the […]
Read MoreAn emergency fund is a bank account with money set aside to cover large, unexpected expenses, such as a major auto repair, or a financial crisis, such as job loss or large medical bills.
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