Financial terms beginning with B
9 terms in our plain-English finance glossary starting with the letter B.
- Bacs
The UK payment system behind Direct Debits and Direct Credits, clearing over three working days.
- Balance Transfer
Moving credit card debt to a new card, often at 0% interest for a set period.
- Balloon Payment
A large lump sum due at the end of a finance deal, keeping monthly payments low.
- Bankruptcy
A formal insolvency that writes off most debts but can cost you assets.
- Base Rate
The Bank of England’s official interest rate, which steers borrowing and savings rates.
- Basic Bank Account
A no-frills, fee-free current account for people who cannot open a standard one.
- Bond
A loan you make to a government or company that pays you interest until it repays you.
- Breathing Space
A 60-day legal pause on most debt collection while you get advice.
- Buildings Insurance
Cover for the structure of your home against major damage.