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Annual Interest Rate


A yearly interest divided by principal amount



Annual percentage rate

The yearly cost of a loan, including interest, and all fees, expressed as a percentage, calculation based on formula provided by HKAB



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Fixed Instalment

A repayment method of mortgage loans, which upon interest rate change, the pre-set instalment amount would be kept unchanged and the tenor would be adjusted



Fixed Tenor

A repayment method of mortgage loans, which upon interest rate change, the pre-set tenor would be kept unchanged and the instalment amount would be adjusted



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Overdraft Facility


A type of credit facility which regular instalment amount is not preset to enable highest flexibility



Principal


The amount borrowed, or the part of the amount borrowed which remains unpaid (excluding interest)



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Tenor


An interval of time in which instalments are paid back by a borrower to a lender



Term loan

A loan which is repaid through regular periodic payments



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