Financial Dictionary - D

Article Index

 

Daily Interest

interest calculated on a daily basis - therefore varies according to daily account balance.

Debit

an account entry to charge a withdrawal to a specified account.

Debtor

someone who owes money to someone else.

Deed

a legal document that states an agreement or obligation regarding a property.

Default

failure to meet debt payment on a due date.

Default Rate

the rate a loan rolls/moves to automatically at the end of any fixed period.

Deposit Bonds

guarantees that the purchaser of a property will pay the full deposit by the due date. Institutions providing deposit bonds act as a guarantor that payment will be made. They are often used as surety when cash isn't readily available at short notice.

Disposable Income

any income left over after all known expenses have been met e.g. mortgage payments, bills.

Draw Down

to access available loan funds, especially referring to lines of credit where the limit is set and you can use the funds as required.