• Amortization : The repayment of a loan or debt in regular instalments. Each installment is split into a principal repayment and an interest payment.

• Asset : An immovable or movable property which can used as a security against which credit can be offered.

• Compound Interest : Interest charged or paid on the principal and the accumulated interest, unlike Simple Interest which is paid only the principal.

• Credit Profile : Profile of an individual or company’s capacity to receive credit and honour the terms and conditions of commercial credit.

• EMI: The loan can be repaid by paying a fixed amount every month, known as Equated Monthly Instalment.

• Lending Rate : The interest charged by the financier on the amount financed.

• Loan Tenure : The time duration for which loan has been provided.

• Principal : The capital sum in a finance transaction as opposed to interest.

• Stamp Duty : Government levies a duty on certain legal documents and financial contracts.