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The face amount or par value of a debt instrument where interest is paid. The interest payment is not part of the principal.
Long term interest rates moved measurably lower over the past week bringing down mortgage rates, Treasury rates and long term certificate of deposit rates. The short end of the yield curve remained pretty much in place as indicated by the six month and one year Treasury rates remaining mostly unchanged. The lack of movement in
A clause in a mortgage allowing the mortgagor to pay off part or all of the unpaid debt before it becomes due.
A term used to describe a debt security the title to which is transferred by delivery.
Interest rates on bank savings and loan products were lower for the week ending October 22, 2010. Although rates were lower on all bank savings and lending products that are examined in the weekly bank rates survey performed by Selectcdrates.com, the rate reductions were relatively mild.
Selectcdrates.com Weekly Bank Savings Rate and Lending
The net amount of funds that a lending institution disburses under the terms of a loan, and which the borrower then owes.
Community Reinvestment Act – a law requiring financial institutions to make loans in the areas where they receive deposits from, and encourages investment in community development.
A sworn statement in writing before a proper official, such as a notary public.
Union Bank of Kansas City Missouri is offering a great short term CD rate. The bank has a promotional CD with a 10 month term that yields 4.00% APY. This interest rate is one of the top CD rates in Missouri for bank CDs with terms of less than one year. The 10 month CD
Certificates of deposit are one of the safest investment products for short term savings. Bank CDs should be a staple in any well diversified portfolio. To get the most from a bank CD, you should know where the best CD rates are, what the CD features are, and what the present interest rate market and
A bank upon which a check is drawn and that pays a check or other draft.
Uniform Commercial Code – a set of laws established at the state level regulating commerce. These laws are proposed by a national group of state-appointed commissioners, but are adopted, with some state-specific adaptations, by the individual states.
There are strategies to control the impact inflation has on your investments. Be mindful of the rate of inflation as it relates to the rate you receive on your investments. The real rate of return is true measure of your investment performance.
A series of unexpected cash withdrawals caused by a sudden decline in depositor confidence or fear that the bank will be closed by the chartering agency, i.e. many depositors withdraw cash almost simultaneously. Since the cash reserve a bank keeps on hand is only a small fraction of its deposits, a large number of
Romney, West Virginia is the home to the Bank of Romney. The bank happens to be promoting the best 9 month CD rate in West Virginia. This CD rate is also the best 9 month rate on the national lists of the top 9 month CD rates. During the first three quarters of 2008 this
A date when the issuer of a bond or other obligation may “call” for redemption of all or part of the debt issue. In other words, the bond may be paid off early, ending interest payments that an investor might have planned on.
A key provision of the Fair and Accurate Credit Transactions Act of 2003 is the consumer’s ability to place a fraud alert on their credit record. A consumer would use this option if they believe they were a victim of identity theft. The alert requires any creditor that is asked to extend credit
Bloomberg.com has a great article discussing some of the unusually high CD rate promotions that keep popping up. The article is titled, “AIG, GMAC Help Drive Up Bank Rates Amid ‘Insanity’ for Deposits”. The theme of the article is one that has struck a chord with us for last 2-3 months. Some banks continue to
Bank of the James opened its doors in 1999 and was organized under the laws of the Commonwealth of Virginia to engage in retail and commercial banking business. Bank of the James is a locally owned community bank and serves individuals, small and medium sized businesses and professionals in central Virginia. The Bank’s services include
Once again, CD interested rates have declined very slightly. Market reaction to the recurring disturbances over European government debt levels has driven interest rates lower once again. Most of the deterioration in CD rates was seen in the longer term banks CDs with the short term CDs holding relatively stable.
Overall, CD interest rates were reduced