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Prepayment privilege
A clause in some loans allowing the borrower to pay off the Debt prior to its Due date without incurring a Penalty . This is an advantage for a borrower when Interest rates are falling, since he/she can pay off the existing Loan and then refinance at a more favorable rate. also called Prior redemption privilege .
Related Terms: 17
Borrow , Call , Debt , Due date , Finance , FIN , Interest , Inc. , Interest rate , ITS , Loan , Leg , Low , Owe , Penalty , Prior redemption privilege , Ring
Semi Related Terms: 648 CLICK HERE TO VIEW
52-week low ,
Allowance for depreciation ,
Adjustable rate ,
Accrual of discount ,
Accrued interest ,
Amortization of premium ,
At par ,
All or any part ,
At best ,
At call ,
Adjustable rate preferred stock ,
Absolute advantage ,
All-risks coverage ,
At risk ,
Add-on service ,
Abstract of title ,
Action to quiet title ,
As is ,
Assignment to creditors ,
Attorney in fact ,
Acceleration clause ,
Adjustable Rate Mortgage ,
Adjustment date ,
Advance rate ,
After acquired clause ,
Alienation clause ,
Annual Percentage Rate ,
Applicable federal rate ,
Asset-based finance ,
Asset conversion loan ,
Assignment of mortgage ,
A shares ,
At the money ,
Absorption rate ,
Age-weighted plan ,
Across the board ,
Additional paid-in capital ,
Ad valorem ,
Against the box ,
At the bell ,
At the close ,
At the figure ,
At the full ,
At the market ,
At the opening order ,
Automated Pricing and Reporting System ,
Away from the market ,
Back pay ,
Below the line ,
Books of final entry ,
Books of original entry ,
Burn rate ,
Banking Act of 1933 ,
Benchmark interest rate ,
Bid-to-cover ratio ,
Bureau of Public Debt ,
Broker loan ,
Brought over the wall ,
Buying on margin ,
Buy on close ,
Buy on opening ,
Buy the book ,
Balance of payments ,
Bank Rate ,
Base interest rate ,
Board of Governors ,
Breaking the syndicate ,
Bill of exchange ,
Bill of sale ,
Breach of trust ,
By the book ,
Bailing out ,
Balloon loan ,
Bank term loan ,
Base rate ,
Blended rate ,
Borrow ,
Bridge loan ,
Broker loan rate ,
Business finance companies ,
B shares ,
Buy and write ,
Behavioral finance ,
Break-even tax rate ,
Blow-off top ,
Breadth-of-market theory ,
Beat the gun ,
Capitalized interest ,
Cost Of Goods Sold ,
Cost of sales ,
Current debt ,
Cleared date ,
Compound interest ,
Call ,
Call date ,
Called away ,
Called bond ,
Call price ,
Call protection ,
Call risk ,
Certificate of Participation ,
Collaterized Loan Obligation ,
Committee on Uniform Securities Identification Procedures ,
Convertible debt ,
Coupon rate ,
Current production rate ,
Call money rate ,
Closed out ,
Code of procedure ,
Capitalization of income ,
Capitalization rate ,
Cap rate ,
Civilian unemployment rate ,
Comparative advantage ,
Cost of Living Adjustment ,
Cost-of-living index ,
Council of Economic Advisers ,
Cash and carry trade ,
Chasing the market ,
Cheapest to deliver ,
Chicago Board of Trade ,
Conversion privilege ,
Cost-of-living rider ,
Certificate of stock ,
Cost of carry ,
Certificate of title ,
Contract for deed ,
Cancellation of debt ,
Cash-out refinancing ,
Certificate of Claim ,
Character loan ,
Classified loan ,
Commercial finance ,
Conduit borrower ,
Conforming loan ,
Consolidation loan ,
Consumer debt ,
Consumer interest ,
Cost of debt capital ,
Cost of funds ,
Crowding out ,
C shares ,
Call option ,
Call ratio backspread ,
Call swaption ,
Class of options ,
Close to the money ,
Covered call ,
Certificate of Occupancy ,
Closing date ,
Cloud on title ,
Cash or Deferred Arrangement ,
Class A Shares ,
Class B Shares ,
Crash of 1929 ,
Crash of 1987 ,
Child and dependent care credit ,
Coefficient of determination ,
Cup and handle ,
Certificate of delivery ,
Close a position ,
Close out ,
Cornering the market ,
Curbs in ,
Curbs out ,
Debt service coverage ,
Date draft ,
Deposit in transit ,
Date of issue ,
Date of payment ,
Debt ,
Debt capital ,
Debt-equity swap ,
Debt financing ,
Debt limit ,
Debt market ,
Debt shelf ,
Deferred interest bond ,
Distribution date ,
Due date ,
Day loan ,
Division of Enforcement ,
Division of Investment Management ,
Division of Market Regulation ,
Date of record ,
Dividend in arrears ,
Dividend rate ,
Desk (the) ,
Discount rate ,
Division of labor ,
Dated date ,
Due diligence ,
De-escalation clause ,
De facto ,
Due process ,
Durable Power of Attorney ,
Date of maturity ,
Debt consolidation ,
Debtor in possession ,
Debtor-in-possession financing ,
Debt retirement ,
Debt service ,
Deed of Release ,
Deed of Trust ,
Demand loan ,
Discharge of bankruptcy ,
Discharge of lien ,
Discount loan ,
Due-on-sale clause ,
Deep in the money ,
Deep out of the money ,
Deed of Surrender ,
Department of Housing and Urban Development ,
Dogs of the Dow ,
Daily low ,
Depth of market ,
Due bill ,
Effective debt ,
Effective annual interest rate ,
Eurodollar certificate of deposit ,
Exact interest ,
Escrowed to maturity ,
Ex-legal ,
Either-or order ,
Exchange rate ,
Economic growth rate ,
E-mini ,
Exchange for futures ,
Exchange for physical ,
Exchange of spot ,
Ex-pit transaction ,
Effective date ,
Effective tax rate ,
Ex-all ,
Evergreen loan ,
Explicit interest ,
Exchange privilege ,
Expiration date ,
Ex-warrants ,
Escalation clause ,
Escalator clause ,
Early withdrawal penalty ,
Employee Retirement Income Security Act of 1974 ,
Ex-rights ,
Ex-rights date ,
First In First Out ,
Federal Savings and Loan Association ,
Federal Home Loan Mortgage Corporation ,
Finance ,
First call date ,
Flight to quality ,
Floating-rate bond ,
Flow of funds ,
Federal Call ,
Fill or kill ,
Front-ending an order ,
Floating exchange rate ,
Foreign exchange rate ,
Forward exchange rate ,
Forward P/E ,
Factors of production ,
Favorable balance of trade ,
Federal Reserve Discount Rate ,
Foreign Debt ,
Fee-for-service ,
Form S-1 ,
Friends and family offering ,
Fair Debt Collection Practices Act ,
FHA Loan ,
Finance charge ,
Finance company ,
Fixed rate ,
Fixed-rate loan ,
Fixed-Rate Mortgage ,
Floating rate ,
Floor loan ,
Forward interest rate ,
Forward Rate Agreement ,
Full faith and credit ,
Funded debt ,
Family of funds ,
Fund of funds ,
Free and clear ,
Free right of exchange ,
FIN ,
Falling knife ,
G-7 ,
General Agreement on Tariffs and Trade ,
Gross National Debt ,
G-8 ,
Grandfather clause ,
Growth and income fund ,
Grant date ,
Gather in the stops ,
Hart-Scott-Rodino Act of 1976 ,
Hit the bid ,
House call ,
House of issue ,
Health Insurance Portability and Accountability Act ,
Hedge clause ,
Holder in due course ,
Hang out loan ,
Home equity debt ,
Home equity line of credit ,
Home equity loan ,
Head and shoulders ,
High-low index ,
Hammering the market ,
Held at the opening ,
Holding the market ,
Interest-bearing ,
In escrow ,
Interest rate collar ,
Interest rate risk ,
Interest rate swap ,
Issue date ,
In-house ,
Investment Advisor Act of 1940 ,
Investment Company Act of 1940 ,
In line ,
Inflation rate ,
Interest rate futures ,
Interbank Rate ,
Incontestability clause ,
Insurable interest ,
Insider Trading sanctions Act of 1984 ,
Interest ,
Interest expense ,
Internal Rate of Return ,
Indication of interest ,
Inc. ,
In intestacy ,
Inter vivos trust ,
Imputed interest ,
Indexed loan ,
Installment loan ,
Interest deduction ,
Interest-only loan ,
Interest rate ,
Interest rate cap ,
Interest rate ceiling ,
Interest rate floor ,
In play ,
In-process research and development ,
Interest rate option ,
I/O strip ,
Inchoate interest ,
Interest-only strip ,
In-service withdrawal ,
Imbalance of orders ,
In and out ,
In sympathy ,
In the tank ,
ITS ,
Jointly and severally ,
Jumping the gun ,
Joint and several liability ,
Jumbo loan ,
Junior debt ,
Joint and survivor annuity ,
Knock-out option ,
Last In First Out ,
Lender of last resort ,
Law of one price ,
Lending at a rate ,
Limit-on-close order ,
Law of demand ,
Law of supply ,
London International Financial Futures and Options Exchange ,
London Inter-Bank Offer Rate ,
Loan stock ,
Long-term debt ,
Letter of comment ,
Legal age ,
Line of credit ,
Loan ,
Loan note ,
Loan schedule ,
Loan sharking ,
Loan-to-cost ,
Loan-to-value ,
Loan value ,
Loan-value ratio ,
Lock-in ,
Leg ,
Long leg ,
Leading the market ,
Locked in ,
Long-term gain or loss ,
Level I quotes ,
Low ,
Maturity date ,
Mezzanine debt ,
Maintenance call ,
Make a market ,
Margin call ,
Margin loan ,
Margin rate ,
Market on close order ,
Mark-to-market ,
Medium of exchange ,
Marginal propensity to consume ,
Monetizing debt ,
Market rate ,
Money at call ,
Morning loan ,
Mortgage debt ,
Mortgage interest deduction ,
Mortgage rate ,
Mill rate ,
Net interest margin ,
Negotiable certificate of deposit ,
Negotiable Order of Withdrawal ,
Nominal rate ,
Non-interest-bearing note ,
Notice of Sale ,
National Association of Securities Dealers ,
National Association of Securities Dealers Automated Quotations system ,
National Debt ,
Null and void ,
Non-conforming loan ,
Nonrecourse debt ,
Note loan ,
Notice of Default ,
Naked call ,
National Association of Real Estate Investment Trusts ,
Normal retirement age ,
Off-balance-sheet financing ,
Off the books ,
Office of Thrift Supervision ,
Ordinary interest ,
Out-of-favor ,
Over-the-Counter ,
Off-floor order ,
On-floor order ,
On margin ,
Or better ,
Operating rate ,
Open interest ,
Offering date ,
Opinion of title ,
On account ,
On-the-spot loan ,
Owe ,
Out of the money ,
Old age, survivors, and disability insurance ,
Overlapping debt ,
On-balance volume ,
Off-board ,
On close ,
On open ,
On the opening ,
Pooling of interests ,
Profit and loss statement ,
Penalty ,
Pass-through coupon rate ,
Payment date ,
Payment-in-kind security ,
Preferred debt ,
Price Value of a Basis Point ,
Prior lien bond ,
Provisional call feature ,
Payment for order flow ,
Purpose loan ,
Payable date ,
Prior preferred stock ,
P&L ,
Provision for income taxes ,
Private debt ,
Policy loan ,
Pre-existing conditions ,
Power of Attorney ,
Partially amortized loan ,
Participation loan ,
Past-due balance method ,
Personal interest ,
Piggyback loan ,
Prepaid interest ,
Prepayment penalty ,
Prepayment privilege ,
Prime rate ,
Prioritization of debt ,
Prior redemption privilege ,
Projected maturity date ,
Prime rate fund ,
Privilege dealer ,
Paid-in capital ,
Paid-in surplus ,
Private Investment in Public Equity ,
Preservation of capital ,
Point-and-figure chart ,
Painting the tape ,
Priced out ,
Put/call ratio ,
Reports and Records ,
Retention rate ,
Return of capital ,
Return on Capital ,
Return on Invested Capital ,
Return on Total Assets ,
Run rate ,
Real interest rate ,
Rate covenant ,
Redemption date ,
Redemption price ,
Reading the tape ,
Regulation D ,
Regulation G ,
Regulation T ,
Regulation U ,
Round of funding ,
Rules of Fair Practice ,
Rate of exchange ,
Reciprocal of European terms ,
Record date ,
Real economic growth rate ,
Red herring ,
Regulation A ,
Right of first refusal ,
Right of rescission ,
Right to Know ,
Rate-improvement ,
Rate lock ,
Recourse loan ,
Release clause ,
Renegotiable rate ,
Rescheduled loan ,
Revolving line of credit ,
Right of recourse ,
Rule of 78 ,
Redemption fee ,
Reinvestment privilege ,
Redemption period ,
Right of redemption ,
Retirement Equity Act of 1984 ,
Risk/return trade-off ,
Return on Capital Employed ,
Rate of return ,
Real rate of return ,
Ring ,
Selling, General and Administrative Expenses ,
SG&A ,
Savings and Loan ,
Sight letter of credit ,
Simple interest ,
S&L ,
Securities and Exchange Commission ,
Sovereign debt ,
Spot rate ,
Student Loan Marketing Association ,
Securities loan ,
Segregation of securities ,
Sell the book ,
Stock loan ,
Savings rate ,
Standard of living ,
Swap rate ,
Second-to-die insurance ,
Short interest ,
Short interest ratio ,
Statute of Limitations ,
Sale and leaseback ,
Satisfaction of debt ,
Secured loan ,
Security interest ,
Security loan ,
Senior debt ,
Signature loan ,
Single-payment loan ,
Soft loan ,
Stafford loan ,
Standby loan commitment ,
Start rate ,
Structured finance ,
Subordinated debt ,
Subordination clause ,
Swing loan ,
Staggered board of directors ,
Selling the spread ,
Short leg ,
Special use property ,
Savings Incentive Match Plan for Employees ,
Santa Claus rally ,
Selling short against the box ,
Shorting against the box ,
S Corporation ,
Short-term gain or loss ,
Sin tax ,
Standard mileage rate ,
Subchapter M ,
Subchapter S Corporation ,
Schedule C ,
Securities Act of 1933 ,
Securities Acts Amendments of 1975 ,
Securities Exchange Act of 1934 ,
Seek a market ,
Settlement date ,
S&P phenomenon ,
Stop and reverse ,
Stopped out ,
Times interest earned ,
T-Bill ,
Term to maturity ,
Take a position ,
Trailing P/E ,
Tenancy by the entirety ,
Teaser rate ,
Term loan ,
Truth in Lending ,
Tenancy at will ,
The Street ,
Timing the market ,
Taxpayer Relief Act of 1997 ,
Tax Reform Act of 1986 ,
Tax Reform Act of 1993 ,
Top out ,
Take a bath ,
Trade date ,
U.S. Government Agency Security ,
U.S. Savings Bond ,
U.S. Treasury ,
U.S. Treasury Bill ,
U.S. Treasury Bond ,
U.S. Treasury Note ,
U.S. Treasury Securities ,
Underlying debt ,
Unemployment rate ,
Unearned interest ,
Unsecured loan ,
Uncovered call ,
Unit of trade ,
Unit of trading ,
Variable rate ,
With interest ,
Waiver of premium ,
Working capital loan ,
Wraparound loan ,
Widow-and-orphan stock ,
W-2 Form ,
W formation ,
When, as, and if issued ,
When issued ,
X or XD ,
Year-To-Date ,
Yield to call ,
Yield to maturity ,
Yield to worst ,
Y shares