Before you begin your training, be sure to learn about banking basics vocabulary worksheets so that you can learn banking terminology at a pace that will allow you to understand everything you need to know. The vocabulary in the worksheet will help you understand and write down important words or phrases you might hear in business meetings.
Vocabulary worksheets are great tools for learning banking terminology quickly. By typing in the definition of the word or phrase into the text box, you will be able to review the information and make corrections as necessary. This means you will have a way to avoid spelling mistakes when your spelling and grammar skills are poor. You will also be able to complete a worksheet in less time than if you were to try to come up with the definitions on your own.
These vocabulary worksheets are usually used by banks and financial institutions. They are meant to be used for educational purposes by anyone who wants to learn the basic terms in banking. Here is a list of some common banking terminology:
One of the more common financial terms you will hear is a savings account. This is an account which is maintained by a person for the purpose of saving money. To open a savings account, a person must show proof of a residence and a job.
To understand the advantages of a savings account, it is important to know what a checking account is. A checking account is a savings account which is maintained by a person for the purpose of saving money. To open a checking account, a person must show proof of a residence and a job. Checking accounts are easy to open and keep track of money, and have no fees.
A loan is another of the many banking basics vocabulary worksheet you will read about in your banking class. A loan is a loan which is guaranteed by the bank. A secured loan, as opposed to an unsecured loan, is easier to get, but has higher interest rates.
In business, payables are made which provide the bank or lender the date and amount of the payment the borrower needs to make. A payment plan is a loan which allows the bank or lender to change the payment schedule of the borrower. For example, if you need a lot of money for a month, but are only able to pay back a small percentage of the amount you borrowed, you could opt for a payment plan.
A mortgage loan is the process by which a person is able to take out a larger sum of money over a longer period of time, like a year or more, and pay off the same or a smaller amount of money every month until the final pay off. When considering a mortgage loan, be sure to compare it to the interest rate you may be offered because of your credit history and income.