Savings Terms - Personal Finance

Q : A time deposit that earns a fixed rate of interest for a specified length of time

• early withdrawal penalty

• Certificate of deposit ( CD )

• automatic deductions

• direct deposit

Q : Interest paid on the original principal ( amount you originally invested ) plus accumulated interest

• Interest

• Direct deposit

• Certificate of deposit ( CD )

• Compound Interest

This is when your net pay ( paycheck ) is deposited electronically into your bank account.

• Direct deposit

• Early withdrawal penalty

• Interest

• Maturity amount

Q : An amount you must pay if you take out any part of your money in a certificate of deposit before the maturity date.

• Early withdrawal penalty

• principal

• maturity amount

• maturity date

Q : Earnings on principal.

• regular savings account

• interest

• principal

• money mark account

Q : How much you will receive ( principal plus interest ) if you chose to redeem your certificate of deposit.

• principal

• maturity amount

• direct deposit

• online accounts

Q : The date on which an investment becomes due for payment

• Maturity Date

• Pay yourself first

• maturity amount

• principal

Q : The amount of money you deposit into a savings account

• Certificate of Deposit ( CD )

• Principal

• Pay yourself first

• interest

Q : Account online that usually pays higher rates but is more risky

• Payroll savings plan

• regular savings account

• Money mark account

• Online accounts

Q : An account that lets you take out your money with no penalties. You are free to make withdrawals and deposits whenever you want.

• Pay yourself first

• Payroll savings plan

• Regular savings account

• Money market account