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Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
50% - Moderately

Accrued Interest

Synonyms:accumulated interest
Filed Under: financial-banking, mortgages
Tags: banking, mortgage, rates

Definition of accrued interest

accrued interest
1. Interest which has already been earned, but has not yet been paid.

Related Terms and Acronyms:

  • accrue   To gather together an amount often over a period of time.
  • interest (IN, int)   Money paid for the use of borrowed funds, usually expressed as an annual percentage.
      ➥  Bank account transaction code.
  • interest-crediting methods   A number of methods used to establish how interest is accrued, owed and dispersed to the parties due.
  • pre-computed loan   With a pre-computed loan, the interest owed over the life of the loan is calculated using a standard amortization table. After signing for this type of vehicle loan, the borrower is obligated to pay back principal plus the full amount of interest that will accrue over the entire term of the loan.
  • pre-paid interest   Interest that a borrower pays before it is due, usually to save taxes.

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