Welcome to our Savings Glossary. Here you will find definitions for more commonly used savings terms, making the jargon clearer. If you're unsure of any words or phrases, simply use the guide below.
Annual Equivalent Rate (AER)
What the interest rate would be if interest was paid and added to your account each year.
Interest is paid once a year.
Annual General Meeting (AGM)
An AGM is held every year to elect the board of directors and inform members of previous and future activities. It is also an opportunity for members to ask any questions regarding the direction the business will take in the future.