Banking & Money Terms with "G"

Glossary of Banking & Money - Glossario Bancario & Monetario

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Gross Annual Income: your gross annual income is the amount you receive each year before tax is deducted. If you receive a pension or other benefits you can add the total you would receive in one year and include this as your income.

Gross Rate: it is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. You can register your account to receive interest gross if you are unlikely to pay tax on your savings income.

Guarantor: a person who promises they will pay the borrower's debt, usually if the borrower fails to.