Simple Interest
Interest calculated only on the principal amount.
Related Terms
More Banking Terms
ACH Transfer
Automated Clearing House electronic funds transfer system.
APR
Annual Percentage Rate - the yearly cost of borrowing.
APY
Annual Percentage Yield - the real rate of return on savings.
Bank Reconciliation
Matching bank statement transactions with accounting records.
Business Checking
A bank account designed for business transactions.
Automate Your Finances with AI
FiscalInsights uses AI to automate bookkeeping, track expenses, and forecast cash flow. Save 10+ hours per month.
Start Free Trial