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Equity
The value of an asset or liability minus any outstanding debt associated with it. Equity is the ownership interest that a person has in an asset.
More Details
Equity represents the value of an ownership interest in a company or asset. It can be used as a measure of financial strength and as a source of capital for investment or expansion.
Example
If you own a home worth $500,000 and you have a mortgage balance of $300,000, your home equity is $200,000.
Related Terms
Automatic Transfer
A process in which funds are automatically moved between accounts. In personal banking, it can be used to transfer money or make payments.
Billing Cycle
The period of time between billing statements for an account, typically one month.
Prepayment
The issuing of payment for a bill or debt before the official due date.