Mortgages & Home lending

Helps reduce interest costs on a loan by linking the loan to a transaction or deposit account. The balance in the transaction account 'offsets' the loan principal. Interest is then calculated on the loan principal minus the balance in the account. For example, if the principal on the loan is $180,000 and there is $5,000 in the transaction account, then interest is only calculated on $175,000.

Loans & Leasing

The annual percentage rate is an interest rate.

Investing

The Australian Securities & Investments Commission (ASIC) is an independent Australian government body that acts as Australia's corporate regulator. ASIC's role is to enforce and regulate company and financial services laws to protect Australian consumers, investors and creditors.

Investing

ASX is short for the Australian Stock Exchange, which is our biggest stock exchange and the place where shares in public companies, bonds and other securities are bought and sold. Other well known stock exchanges include the LSE and the NYSE which are the London and New York stock exchanges respectively.

Banking

This is the unique number the bank gives your account.

Taxation

Transactions are recorded when there has been an actual exchange of goods, services or work effort. In contrast cash basis records transactions only when a payment or receipt of cash is made.

Taxation

Acquisition is a very broad term. It includes the things a person buys (goods & services) for their enterprise. It also includes many other transactions, such as advice and information, taking out a lease of=business premises or hire of business equipment.

Taxation

An adjustment note is generally issued by a supplier. It gives details of changes to consideration for a supply. An adjustment note needs to be obtained from a supplier before an adjustment to claim additional input tax credits for an acquisition can be made.

Taxation

Adjustments are changes that a person may need to make to their BAS to increase or decrease their net GST amount payable or refundable for a tax period.

Investing

The index is made up of the weighted share prices of about 500 of the largest Australian companies. It is the predominant measure of the overall performance of the Australian share market. The companies are weighted by their size in relation to market capitalization (total market value of a company's shares).

General

An investment designed to produce retirement income, usually managed, for a fee, by a life assurance company or investment fund. The retiree pays the life office or fund a lump sum and in return receives a series of payments - in effect, a self-funded pension. Each time the fund makes a payment, the annuitant is getting back part of the money initially outlaid, plus interest.

Mortgages & Home lending

A fee paid by a borrower for setting up a loan.

General

Anything of value. Assets can be in the form of money, such as cash at the bank or amounts owed to you; they can be fixed assets such as property or equipment; or they can be intangibles such as your company's goodwill or brand-names.

Investing

The total amount of money you invest in the different asset classes like shares, property and bonds. It is generally determined by your risk profile.

Taxation

Attribution rules determine when a GST liability arises or an input tax credit entitlement arises in respect of a supply. The general attribution rule for accrual or invoice based taxpayers states that supplies are attributed to the tax period in which the consideration is received or an invoice issued for the supply, whichever is earlier.

Taxation

The Australian Business Number is a new identifier for dealings with the ATO and for future dealings with other government departments and agencies.

Banking

 See SWIFT code.

General

BPAY is a system that lets you pay just about all your bills in one go, via the phone or the web. You can choose the account you wish to pay from or even schedule future and periodic payments.

Banking

Your BSB (Bank State Branch) number is a 6 digit unique number that identifies the bank and branch where your account is held. All NAB BSB numbers start 083.

Banking

BSB is short for Bank, State, Branch. Every bank branch has its own unique BSB number and all BSB numbers are 6 digits long.

Banking

This is the transfer of the outstanding balance of your credit card from one financial institution to another.

Loans & Leasing

A single large payment at the end of a loan / lease arrangement which ends the borrower's / lessee's liability.

Mortgages & Home lending

One basis point equals 0.01% interest. For example, 25 basis points equals 0.25%.

Investing

So called because they're used by fund managers and big investors to measure the performance of a share portfolio across different indices. Includes the S&P/ASX 200 and 300 and the small ordinaries index.

General

The person or organisation that is entitled to receive the benefits generated by an asset, where the asset is legally registered in the name of another party, such as a trustee. For example, a beneficiary under a trust.

Investing

A document recording a loan for a fixed period at a fixed rate if interest. Loans to a government or semi government authority are called bonds as the borrowing authority guarantees repayment of the principal on a specific date and that a fixed rate of interest will be paid for the period of the loan.

Mortgages & Home lending

A loan that is generally temporary/short term. It can be used for example, to help finance the purchase of a new home pending sale of your existing home.

Taxation

A Business Activity Statement is a new form which businesses use to report their tax entitlements and obligations, including the amount of GST they have paid and collected. The Business Activity Statement replaces a number of other tax forms.

Economics

CPI is short for Consumer Price Index which is the index that measures the prices at various times of a selected group of everyday goods and services like bread, milk, bus fares etc. By comparing how these prices change it allows the monitoring of the relative cost of living over time and is used as a measure of inflation.

Taxation

Transactions are recorded only once a payment or receipt of cash is made. Contrast with accruals basis in which transactions are recorded when there has been an actual exchange of goods, services or work effort.

Investing

A corporate or company fund is generally a super fund with membership only open to people working for that company.

Mortgages & Home lending

A rate that includes the interest, fees and charges payable during the life of a loan, expressed as a single percentage figure. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included.

Banking

A method of interest calculation where, in each period, interest is calculated on both the principal and interest previously earned. Interest paid on accumulated interest as well as on the capital invested. For example, $100 invested for one year at 5 per cent a year would yield $5 in its first year and at the end of the second year would pay 5 per cent on $105 (being the original $100 plus the $5 earned in the first year). The second year's interest would be $5.25, which would be added to the $105 when calculating the third year's interest entitlement.

Taxation

Consideration for GST purposes means any payment - in money or otherwise made in return for a supply. Consideration includes an agreement to do something or not do something in relation to a supply of goods, services or anything else.

Mortgages & Home lending

The person who actually facilitates the conveyancing process.

Mortgages & Home lending

The legal process of transferring ownership of property from the seller to the buyer.

General

Money that a lender gives a borrower based upon a promise to pay it back in the future. A person taking credit (either secured or unsecured) usually has to pay interest on the borrowed money and fees and charges in addition to the principal payment.

Banking

A facility that offers the card holder a line of credit. Facility is subject to fees and interest and minimum monthly payment. You receive a monthly credit card statement detailing your charges and payment requirements.

Mortgages & Home lending

The maximum amount that a borrower can borrow, for example under a home loan, credit cards and or approved overdraft.

Mortgages & Home lending

A report, prepared by an authorised credit reporting agency, detailing your credit history. A lender needs permission from you to obtain a credit report.

Investing

A type of fixed-interest security, issued by companies (as borrowers) in return for medium and long-term investment of funds. A debenture is evidence of the borrower's debt to the lender - a certificate or a voucher acknowledging a debt.

General

An obligation by a party to pay a specific amount of money to another party.

Investing

A type of super fund which is employer sponsored. The employees benefits are worked out using factors such as length of service or years of membership in the fund and average salary over the last few years before retirement.

Investing

A superannuation fund where a member's payable contribution is defined. It operates like a bank account and gives members all contributions plus the investment earnings (interest) on them less taxes and other expenses.

Mortgages & Home lending

A substitute for a cash deposit to assist with the purchase of a property. The buyer is required to pay the full purchase price at settlement.

Investing

The accounting practice where the cost of an asset is systematically spread over the life of the assets (i.e. written down over the life of that asset). The amount of depreciation (termed an expense in accounting language) has the effect of reducing the profit or raising the loss for the periods during which the asset is used. It recognises that assets tend to lose value as they age.

General

A direct debit is when you allow an organisation to instruct its bank to take money directly from your account (e.g. a monthly gym membership, health insurance or car loan repayments).

Investing

This is the degree to which you diversify your investment portfolio across the various options like property, shares and bonds.

Investing

What is paid out of a company's net profits to its shareholders. Usually expressed as cents per share.

Investing

The tax credits passed on to a shareholder who receives a franked dividend. Under provisions of the Income Tax Assessment Act, imputation credits entitle investors to a rebate for tax already paid by an Australian company.

Mortgages & Home lending

The date the borrower first uses the loan funds, for example, to pay the vendor.

Banking

Stands for Electronic Funds Transfer and in general terms is electronic banking. It uses computer and electronic technology instead of cheques, cash and paper - it includes devices like ATMs or cards .

Mortgages & Home lending

A fee which may be payable if, during a fixed rate period, the borrower makes certain changes such as switching the loan from a fixed to variable rate or fully prepaying the loan prior to the expiry of the fixed rate period. Economic cost is the lender's estimate of its loss resulting from the change.

Taxation

An enterprise covers commercial activities but does not include hobbies or acts done by a person as an employee. It includes the activities of entities such as charities, gift deductible entities, religious and government organisations, and clubs and associations.

Taxation

Entities may be registered for GST if they are carrying on as an enterprise. An entity refers to an individual, a body corporate, a corporation sole, a body politic, a partnership, any other unincorporated association or body of persons, a trust or a superannuation fund.

Mortgages & Home lending

The interest or value that an owner has in an asset over and above the debt against it. For example, a home-owner has equity in that part of the value of his or her house above the amount borrowed from a lender.

Mortgages & Home lending

A Federal Government grant given to first home buyers when they purchase their first home.

Mortgages & Home lending

An interest rate 'locked' in for a specified period of time.

Banking

Money placed with a bank or other financial institution for a fixed period at a stated rate of interest which will apply for the duration of the deposit. Depositors may have to accept an interest adjustment if their application to take the money out before the agreed period has expired is approved. A pre payment fee may also apply.

Investing

With dividend imputation, if a company pays company tax, the dividends carry a tax credit which can be offset against your tax liability on the dividends. If a company pays the full company tax rate, the dividends are fully franked.

Investing

Franking or imputation credits represent the tax paid by a company on its profits before paying dividends to shareholders. Investors who receive dividends with franking credits are able to claim a tax offset, known as an imputation credit for the amount of the franking credit.

Taxation

GST-free supplies do not have any GST charged on them. However, the supplier is entitled to claim input tax credits on any creditable acquisitions that relate to the supply. In other jurisdictions, these supplies are referred to as zero-rated.

Insurance

Typically general insurance is any insurance that is not life insurance such as home contents, boat, motor vehicle or caravan.

Economics

A tax levied on the supply of goods and services.

Mortgages & Home lending

Various government taxes and charges. Examples include stamp duty, transfer of land and mortgage registration fees. Amounts payable can vary for each state and territory.

Taxation

Entities may be approved as members of a group for GST purposes. Companies may form a group if they are part of the same '90 per cent owned group'. All members of a GST group must be registered for GST account on the same basis, and have the same tax periods. Supplies between members of GST groups are not taxable supplies. GST groups are able to nominate one representative member (who is an Australian resident) who will be liable to GST and able to claim input tax credits on behalf of the group. You should consult your own adviser if you are considering grouping.

Mortgages & Home lending

A statement (contract) to perform an obligation or discharge a liability of another person should that person fail to do so.

Mortgages & Home lending

The party who agrees to be answerable or responsible for another parties liability (eg debt) or obligations.

Loans & Leasing

This is a loan available to eligible Australian students to cover all or part of their education. It is repayable later according to how much money you earn.

Mortgages & Home lending

A low interest rate offered at the start of a loan for a specified period of time. At the end of this period, the interest rate converts to a standard variable rate. Also called an introductory rate.

Banking

 The International Bank Account Number (IBAN) is an international standard for identifying bank accounts across national borders. It was originally adopted by the European Committee for Banking Standards. The IBAN was developed to facilitate payments within the European Union and is not yet used for routing as it has not been widely adopted outside Europe. Please use the SWIFT code for transfers to NAB accounts.

Investing

An industry superannuation fund generally caters for workers from a particular industry; e.g. construction, building, health workers, but these days most are available to anyone. They return the profits to your account with fees generally lower and returns can be higher.

Economics

Inflation is the process of steadily rising prices of goods and service in the economy.

Taxation

When you pay GST on any taxable supplies that you acquire for use in your business, you can in most cases claim these amounts back from the ATO, except where the acquisition relates to the making by you of input taxed supplies or supplies of a private or domestic nature. These amounts are called input tax credits.

Taxation

Input taxed supplies do not have any GST charged on them. However, the supplier is not entitled to input tax credits on acquisitions relating to the supplies.

Banking

The charge on borrowed money or the return earned on funds out on loan or invested.

Mortgages & Home lending

When interest is charged at the beginning of a period of time. For example, charging the first year's interest in the first month of a loan. It is generally only available on fixed rate loans for investment purposes.

Mortgages & Home lending

For a time period specified in the loan contract, the borrower is only required to pay the interest that is accrued on the loan and no principal payment.

Mortgages & Home lending

A low interest rate offered at the start of a loan for a specified period of time. At the end of the period the interest rate converts to a standard variable rate. Also called a honeymoon rate.

Investing

A small group of individuals, usually friends, co-workers, neighbours or family members, who meet on a regular basis and pool their funds together to invest in a 'club portfolio'.

Mortgages & Home lending

Loans used for investment purposes, such as the purchase of an investment property.

Taxation

Transactions are recorded when there has been an actual exchange of goods, services or work effort. In contrast, cash basis records transactions only when a payment or receipt of cash is made.

Loans & Leasing

A contractual agreement under which a party (lessee) is entitled to use the property( eg car) belonging to another (lessor) in return for periodic payments, for example, rent for a specified period.

Mortgages & Home lending

Insurance taken out by the lender to protect itself from default by the borrower. Generally required for home loans with a Loan to Value Ratio (LVR) above 80%.

General

Opposite of asset. Liabilities generally refer to a person's debts, or in the case of a company, to its debts and the dividends payable to shareholders. A current liability is due within the short term, as compared to a long-term liability.

Mortgages & Home lending

A flexible line of credit which allows a borrower access to funds over a given period but does not entail regular fixed repayments. A line of credit is similar to an overdraft in that the amount the client chooses to use is left to his or her discretion, within the agreed limit. The level of use of the line of credit is regularly reviewed and if the funds are not being used it may be reduced or withdrawn. Find out more.

Economics

This is the measurement of how quickly and easily an asset can be converted into cash with no or minimal loss.

Mortgages & Home lending

A feature which may help reduce interest payable on a NAB home loan when the loan account is linked to a deposit account.

Mortgages & Home lending

The formal contract between the borrower and the lender, which sets out the terms and conditions of the loan.

Mortgages & Home lending

The total amount of the loan divided by the appraised value of the property. For example, if a property is valued at $300,000 and the loan amount is $240,000 then the LVR is 80%.

Mortgages & Home lending

A loan process generally for self-employed people who do not have the standard financial statements required to obtain a loan.

Mortgages & Home lending

An extra repayment made to a loan, which is over and above the repayments specified and contracted for under the loan contract.

Investing

If the listed prices of shares or units fall below a level that would cover a lender's loan to you, then the lender will ask you to contribute the difference.

Investing

This is when you use your investment share portfolio as security for a loan.

Investing

A superannuation vehicle which enables a number of companies or individuals to combine their superannuation business under a common trust deed.

Investing

Amount of time until a loan is fully due and payable. For example, a 5-year intermediate-term loan has a maturity of 5 years. Also applies to when bonds, bills of exchange, certificate of deposit or other negotiable instrument become due and payable.

Mortgages & Home lending

A fee which may be payable each month on a loan account. The fee varies depending on the type of loan.

Mortgages & Home lending

A document which creates a security interest over a property to a creditor as security for a loan.

Mortgages & Home lending

The party who holds a mortgage as security. For example, if a bank holds a mortgage, the bank is the mortgagee.

Mortgages & Home lending

A party who gives a mortgage. For example, a borrower who provides a mortgage over their house as security for a loan is a mortgagor.

Investing

This is a professionally managed pool of money from a group of investors in securities like shares, bonds and money market instruments. By pooling your resources with other investors in mutual funds, you can diversify even a small investment over a wide spectrum.

Investing

An investment strategy in which related outgoings such as interest payments on funds borrowed to buy an income-producing asset, say, property or shares, exceed the income from the asset. On the face of it, this is a loss-making situation. However, the interest expenses can be deducted from the investor's taxable income.

Taxation

The net amount payable or refundable is one of the amounts included on the BAS. At the end of each tax period you work out the total GST payable and the total input tax credits that belong to a tax period. You offset the total input tax credits against the total GST payable to calculate the total amount payable or refundable.

General

This is the amount of total assets you own, (eg house, shares etc) less your total debts and obligations (eg money owing to a financier). This measure can be used as a guide to indicate your creditworthiness and financial strength.

Loans & Leasing

A novated lease is an agreement between employer, employee and the financier, where the employer agrees to meet the repayments of the lease while the employee remains employed. The employee in turn sacrifices part of their salary to cover the cost of the finance. It is commonly used for car leases.

Investing

The most common type of share that represents an equity in a company. Ordinary shareholders may receive dividends if the company trades profitability and have the right to vote on company decisions.

Banking

A flexible loan allowing the customer access to funds over a given period but does not entail regular fixed repayments. The amount the borrower chooses to use is left to their discretion within the agreed limit. Interest is calculated on the fluctuating balance.

Banking

A number that is used by bank's as a personal code. With a PIN linked to your NAB credit card or ATM card, you can withdraw cash at any NAB automated teller machines.

Taxation

PAYG is an integrated system for reporting and withholding amounts (amounts deducted from payments to others) and tax on business and investment income. PAYG replaces 11 taxes including Company & superannuation fund instalments, Provisional tax and PAYE

Banking

A series of payments from an account made weekly, fortnightly, monthly, quarterly, annually or for an indefinite or fixed number of payments or transfers. And example of a PP would be setting up a regular transfer to your savings account.

Investing

This is a superannuation fund that is available to individual consumers. They are often divided into personal master trusts and personal divisions of not for profit funds.

Banking

A loan for personal use such as the purchase of a car or a holiday. Usually under $80,000.

Mortgages & Home lending

The ability to 'move' a loan from one security (e.g. property) to another. For example, borrowers can usually take their current loan with them when buying a new home by swapping the security held on the loan to the new property.

Investing

This is when you borrow to invest in something that actually makes more money than it costs you in interest and fees. For example, if you borrow to buy shares and the shares increase in value to the point that the actual value of them exceeds the expenses of the loan then you have positively geared.

Mortgages & Home lending

Initial approval process which provides an estimate of how much someone can borrow (before finding the property), based on the information provided to the bank.

Investing

Shares that rank before ordinary shares in the event of liquidation of the issuing company and that usually receive a fixed rate of return.

Mortgages & Home lending

Additional payment(s) made under a loan that are over and above the payments specified under the loan contract.

Mortgages & Home lending

Applies to NAB fixed rate loans. A fee is payable when the whole loan amount is prepaid during a fixed interest rate period. It may also be payable when partial prepayments are made (generally in excess of $20,000 per fixed rate period).

Taxation

The price of a taxable supply is the sum of the amount of money, and the market value (including GST) of any non-money part of the consideration given for the supply. The price of a taxable supply includes GST.

Investing

Indicates the number of times the price covers the earnings per share over a twelve month period. P/E is commonly used to measure the attractiveness of particular shares and to compare shares in one company with those in another.

Mortgages & Home lending

Principal is the amount of the loan.

Mortgages & Home lending

A loan where the repayments are made up of principal and interest.

Mortgages & Home lending

The value of the property taken as security for the loan as determined by the lender. The value is determined by the lender engaging an external valuer, or by the lender undertaking an internal valuation.

General

This is something that happens every three months like a business submitting a Business Activity Statements for tax purposes.

Mortgages & Home lending

Allows a NAB borrower to lock in the fixed interest rate that is quoted at the time of loan approval for up to 3 months. If interest rates change prior to the loan drawdown date then the borrower is guaranteed the original rate (provided the time between approval and drawdown is within the 3 months). A Rate Lock fee may be payable.

Taxation

A tax invoice produced by the recipient of the supply rather than the supplier.

Mortgages & Home lending

A loan feature that allows the withdrawal of funds from a loan, if the borrower has made additional repayments.

Mortgages & Home lending

A feature, offered by NAB, which lets the borrower 'step up' their home loan repayments each year of the loan's variable rate period to help pay off the loan faster.

Investing

This is involves restructuring the way your debt is set up. This can involve bringing all the debt under one loan, lengthen maturities, consolidate debt, etc.

Mortgages & Home lending

Paying off an existing loan and establishing a new one.

Investing

This is involves restructuring the way your debt is set up. This can involve bringing all the debt under one loan, lengthen maturities, consolidate debt, etc.

Mortgages & Home lending

Paying off an existing loan and establishing a new one.

Taxation

A registered entity is an entity that is, or is required to be, registered for GST.

Mortgages & Home lending

An arrangement between a lender and a borrower to excuse the borrower from making scheduled repayments under their loan contract for a period where they are ahead with their repayments.

Mortgages & Home lending

The amount and frequency (for example, fortnightly or monthly) of loan repayments specified under the loan contract the borrower has agreed to make in repaying the debt.

Investing

An offer made to shareholders to buy new shares in the same company, usually below the prevailing market price.

Investing

An indicator of expectations about the potential gain or loss associated with investing over time. For example when you buy shares you are taking a risk as to how much your investment will grow, stagnate or decline.

Investing

Your investment risk profile is the amount of investment risk you are willing to take for the prospect of earning a higher investment return. For example the risk profile of a new small company is usually higher than that of an established large company.

Banking

 SWIFT is an international messaging system used to exchange information between banks and send payment instructions. When using SWIFT, a SWIFT address (also known as a BIC Code) is an international standard used to uniquely identify a financial institution.

Banking

The Society for Worldwide Interbank Financial Telecommunication ("SWIFT") operates a worldwide financial messaging network. Messages are securely and reliably exchanged between banks and other financial institutions.

The majority of international interbank messages use the SWIFT network.

A SWIFT or BIC (Bank Identifier Code) is a standard format of Bank Identifier Codes approved by the International Organization for Standardization. It is the unique identification code of a particular bank and is required to send money internationally.

Mortgages & Home lending

The asset used to secure repayment of a loan, for example a property.

Mortgages & Home lending

The completion of the process to sell or purchase a property.

Mortgages & Home lending

Splitting a loan into more than one loan account. For example, a fixed rate loan account and a variable rate loan account.

Mortgages & Home lending

A Government charge on a financial transaction. For example, stamp duty is payable by the buyer on a transfer of land when a property is sold. The amount varies for each state and territory.

Mortgages & Home lending

Allows for a home loan to be used when building a new house or renovating a house. The loan allows for the money to be progressively accessed (drawndown) as the building progresses. BICOE functionality is available on selected NAB variable rate loans.

Taxation

Supplies include the goods and services that are sold by enterprises. They also include many other transactions, such as providing advice or information, leasing out commercial premises or providing hire equipment. Not all supplies are taxable supplies.

Mortgages & Home lending

Payable under NAB home loans whenever the NAB agrees to a request to change the type of interest rate (except where we replace one fixed rate with another fixed rate during an interest only repayment period), or the type of repayments, or to increase the amount of credit except by way of redraw.

Taxation

A tax audit is an examination of your tax affairs by the Australian Tax Office to see if you have met your obligations under the tax laws.

Taxation

A tax invoice is a document generally issued by the supplier. It shows the price of a supply, indicating whether it includes GST, and may show the amount of GST. It must include the supplier's ABN. A tax invoice must be obtained before claiming an input tax credit through a BAS.

General

A tax offset reduces the amount of tax you have to pay. They are not the same as deductions, which are taken off your income before your tax is worked out. Examples are the Baby Bonus, private health insurance and dependant spouse rebate.

Taxation

A tax period is the accounting period which applies to GST and other business tax accounts which are returned on a Business Activity Statement. It may be one or three months, depending on annual turnover. Quarterly tax periods end on 31 March, 30 June, 30 September and 31 December. Monthly tax periods end on the last day of each month.

Taxation

Taxable supplies include most goods, services or anything else sold by an enterprise. Supplies are not taxable supplies if they are GST-free or input taxed.

Banking

A telegraphic transfer allows you to send money directly to any bank account as long as you have relevant bank details. It can be sent from one country to another and in most currencies and arrives within two to five working days.

Mortgages & Home lending

The time length or duration of a loan, for example 30 years.

General

An entity created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust (and often holding title on behalf of the trust). An example is a discretionary trust.

Insurance

Simply put, this is the business of insuring against risk. A company underwrites something which means it will financially guarantee it. A good example is insurance underwriting.

Investing

A pooled investment fund or collective investment, established under a trust deed, that continually offers new units and stands ready to redeem existing ones from the owners.

Loans & Leasing

This is a loan given by the lender on an unsecured basis. An example of unsecured loans is a credit card.

Mortgages & Home lending

The value of a property as determined by the bank or an independent valuer.

Taxation

Value in a GST context is the price excluding GST.

Mortgages & Home lending

An interest rate that can fluctuate over the term of the loan.

General

A will is a document that sets out how an individual wants his or her assets to be distributed after death. The person who has made a will is called a testator.

Investing

At a high level, the annual return on an investment expressed as a percentage.