Your All-in-One Canadian Financial Dictionary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

The end date of a loan or investment. This is when it’s fully paid off or when you can access or renew your investment.

Managing your money through your bank’s app like checking balances, paying bills, or sending money right from your phone.

A prepaid form of payment, similar to a cheque. Since you pay upfront, it’s guaranteed and won’t bounce. Often used when cash isn’t practical.

A loan used to buy a home. The property itself is used as security, so if you don’t repay, the lender can take and sell it.

Extra payments you make on your mortgage to pay it off faster and reduce interest over time.

An investment where your money is pooled with others and managed by professionals. It spreads your money across different assets to reduce risk.