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Compound interest
The mortgage definition for
Compound interest
:
The interest paid on the principal balance in a mortgage and on the accrued and unpaid interest of the loan.
Similar Matches
Add on interest
Add on interest
The interest a borrower pays on the principal for the duration of the loan.
Applied or nominal interest rate
Applied or nominal interest rate
The rate used to calculate the interest due.
Daily interest
Daily interest
Interest on the homeloan is calculated and applied on a daily rather than a monthly or yearly basis. Can lead to big savings.
Further Suggestions
Deferred interest mortgage
Incidence of interest calculation
Interest accrual rate
Interest only mortgages
Interim interest
Variable interest rate
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Compound interest
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