Learn key finance terms

Finance Glossary

We've put together a financial dictionary that gives you clear definitions about financial terms you may see.

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E - F
G - H
I - J
K - L
M - N
O - P
Q - R
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A - B
C - D

Define Capital Gains Tax

What does capital gains tax mean in the UK? Capital gains tax is a tax applied to the profit made from selling certain assets.

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Define Cash ISA

What does Cash ISA mean in the UK? A cash ISA is a savings account that offers tax-free interest.

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Define Compound Interest

Compound interest is the process of where interest is earned on the initial savings, and then interest is calculated based on the increased balance.

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Define Deposit

What does a deposit mean? A deposit is when you place money into a savings account.

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Define Direct Debit

What is direct debit? Direct debit is when you allow a service provider to automatically withdraw funds from your bank account on a regular basis.

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E - F

Define FCA

What is the FCA? The Financial Conduct Authority is the financial regulatory body in the UK.

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Define FSCS

What is the FSCS? The FSCS is a UK compensation scheme that provides protection to consumers if a financial service cannot fulfil its financial obligations.

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Define Fixed Rate

What is a fixed rate? A fixed rate refers to the interest rate that remains unchanged for a specific period of time.

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G - H
I - J

Define ISA Allowance

An ISA allowance is the maximum amount of money you can contribute to an ISA in a given tax year.

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Define ISA

An ISA (individual savings account) is a tax-efficient savings account available to residents of the UK.

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Define Interest Rate

An interest rate refers to the percentage at which a financial provider compensates you for keeping your money with them.

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K - L
M - N
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O - P

Define Open Banking

Open banking is a system that allows individuals to securely share their financial data with authorised 3rd party providers through APIs.

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Q - R
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S - T

Define Savings Bond

A savings bond is a savings product offered by the government or financial providers that lets people lend their money for a fixed period of interest in return.

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Define Savings Account

A savings account is a type of bank account designed for individuals to securely deposit and store their money, whilst earning interest over time.

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U - V
W - X
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