Banking term of the day | | GovernmentAdda
Home / Daily Dose / Banking Term Of The Day / Banking term of the day
Rbi Grade B Study Material

Banking term of the day

 Download Reasoning General Intelligence Power Book (1200+ Pages)  Free Download Now
Download Quant Power Book (800+ Pages) Free Download Now

Adjustable-Rate Mortgages (ARMS)

▪Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans.

▪The interest rate may
change over the life of the loan as market conditions change.

▪There is typically a maximum (or ceiling) and a minimum (or floor) defined in the loan agreement.

▪If interest rates rise, so does the loan payment. If interest rates fall, the loan payment may as well.

 

 Download English Power Book (2000+ Pages)  Free Download Now

About Tyson

Check Also

Banking Term of the day

 Download Reasoning General Intelligence Power Book (1200+ Pages)  Free Download Now Download Quant Power Book …

error: