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Glossary



Annualised Percentage Rate (APR)
A measure of the cost of the loan including interest and fees, expressed as a yearly percentage rate.

Drawdown
The act, by the bank, of making the money you borrowed available to you, usually by crediting your account.
 
Fixed Rate Loan
A loan taken at an interest rate which is fixed for a set term, regardless of changes in the market.
 
Floating Rate Loan
A loan taken at an interest rate which will fluctuate according to the market situation.
 
Interest
A charge for money advanced or lent by the bank.
 
Principal
The actual amount borrowed or owed on a loan.
 
Security
Assets pledged as collateral for a credit facility.
 
Tenor
The length of time of a loan.

For more tips and information, please consult the Loan Process and Frequently Asked Questions sections.
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