The annual equivalent rate (AER) is the actual interest rate on investments, loans or savings accounts that can be obtained after compounding interest.
AER is also known as the effective annual interest rate or annual percentage yield (APY).
AER will be higher than the stated or nominal rate if there is more than one compounding period in a year.
Linked savings accounts are linked to another account, such as a checking or checking account for withdrawals, making it easy to transfer money between accounts.
The 3-6-3 rule is a slang term for an informal practice in banking, especially in the 1950s, 1960s and 1970s, that was the result of the industry’s uncompetitive and simplistic conditions.
The account balance represents the available funds or present value of an account of a particular financial account, such as a checking, savings or investment account.
Automated Account Transfer Service (ACATS) can be used to transfer stocks, bonds, cash, mutual funds, mutual funds, options, and other investment products.
Average Annual Return (AAR) is a percentage that represents the average historical return of a mutual fund, typically reported over three, five, and 10 years.