Fixed Rate Interest
This is where the rate of interest on your savings / Child’s Investment remains the same throughout an agreed term.
The abbreviation for ‘Independent Financial Adviser’ who can offer independent advice on many different financial products and services as well as compare products from a wide range of providers.
The abbreviation for ‘Individual Savings Account’ which is effectively a tax wrapper used to protect your savings from being taxed.
The abbreviation for ‘Junior ISA or Junior Individual Savings Account’ which is popular amongst investments for children and is the same as a regular ISA but is specifically for Children.
This is the level of interest you earn on any investments or savings you have in an account.
Matured / Maturity
Some investments and savings accounts will be fixed for a certain length of time ‘Term’ and when that time has arrived the account/investment is said to have ‘Matured’.
Monthly Interest Rate
This is where the interest paid on an account is calculated and paid on a monthly basis.
Per Annum / PA
This simply means per year. For example, you are only permitted to invest a maximum of £3600 per annum into a junior isa which means you can only invest a maximum of £3600 per year into a JISA.
Sharia / Shariah Investments
Sharia investments are investments which comply with Sharia law and invest in guidance with the Islamic Investment Guidelines.
Variable Interest Rate
This is where the interest rate can vary on an account and can go up and down at any time.