Banking jargon can be confusing for new customers. This guide explains common terms in simple language.
Some frequently used terms include:
- EIR (Effective Interest Rate): The true cost of a loan, including fees.
- Collateral: Assets pledged for securing loans.
- Liquidity: How quickly assets can be converted to cash.
- Dividend: Profit share paid to shareholders.
By understanding such terms, clients can engage more confidently with financial products.
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Written by: BankOpen Singapore Editorial Team
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.