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IRC Financial Glossary

What is it? See Innovation Relay Centres

Finance Term Definition Added By: Ella

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Other Similar Finance Terms:

Financial Term Home Equity Line of Credit is A line of credit providing you with the ability to borrow funds at the time and in the amount you choose, up to a maximum credit limit for which you have qualified. Repayment is secured by the equity in your home. Simple interest (interest-only payments on the outstanding balance) is usually tax-deductible. Often used for home improvements, major purchases or expenses, and debt consolidation.

Financial Term Guaranteed Income Bond is A type of insurance policy where you pay a single upfront premium, and which then pays out money at regular intervals over a fixed period of time, and at the end of which the premium is returned.

Financial Term Prime Rate is The interest rate that banks charge their best clients, , i.e., those with the lowest possibility of default.

Financial Term Revenue Support Grant is The main government grant to support local authority services.

Financial Term Coterminous is Two or more leases that are linked so that both will terminate at the same time.