Financial Dictionary - I

Article Index


Inclusions

items included with the property e.g. light fittings, stove, etc.

Income Statement

a statement of income and expenditure for a period, usually a year.

Interest

the lending body's charge for the use of funds or the return on deposited funds.

Interest Adjustment

when additional repayments are made on a fixed loan, an interest adjustment cost is sometimes charged to compensate the lender for loss of interest revenue.

Interest Only Loan

a loan where the principal is paid back at the end of the term and only interest is paid during the term. The loans are usually for a short term of one to five years.

Internet Banking

when banking transactions such as transfers, payments and often home loan applications can be made via the Internet.

Introductory Loan

a lan offered at a reduced rate for an introductory period (usually no longer than 15 months) to new borrowers.

Inventory

a list of items included with the property e.g. furniture, moveable items, etc.