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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.
Fixed Installment
A repayment method of mortgage loans - when the interest rate
changes, the pre-set installment amount will remain unchanged
and the tenor will be adjusted accordingly.
Fixed Tenor
A repayment method of mortgage loans - when the interest rate
changes, the pre-set tenor will remain unchanged and the installment
amount will be adjusted accordingly.
Overdraft Facility
One of the credit facility that does not have regular installment amount, it allows the highest flexibility.
Principal
The amount borrowed, or the portion of the loan amount not yet repaid (excluding interest).
Tenor
Period of time that the borrower repays the balance to the lender.
Term loan
A loan which is repaid through regular fixed installment.
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