GLOSSARY  -  [A]


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Cut through the jargon with our glossary of banking terms



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AAPR
The average annual percentage rate (AAPR) wraps up interest payments and fees and expresses all these costs in one rate. It is designed to reflect the total annual cost to a borrower of a loan. All lenders must disclose this benchmark rate in their advertising of home loans and personal loans from July 2003. In Australia, the AAPR is officially called the 'Comparison Rate'. See 'Comparison Rate' for details on how this is calculated.
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Annual fee

Ongoing administration fee charged each year on many home, business, personal and reverse mortgage loans, as well as credit cards. Admin fees such as these on home and personal loans can also be charged monthly, quarterly or half yearly.

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At call

'At call' refers to savings in accounts that can be accessed at any time and is not locked away for a specified period as with term deposits. In practice, this unlimited access may be restricted by the opening hours of the financial institution or the type of withdrawal access it offers. Institutions may take up to 24 hours to process withdrawals (eg. some cash management trusts) or offer true instant access via ATMs and internet banking.

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