Banks.com.au - Glossary

Glossary

Glossary of terms and acronyms related to Australian banking, finance and investments.

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FID: Financial Institutions Duty (FID) is a now-defunct fee imposed on deposits to savings, term deposits, and other bank accounts. It was essentially a form of tax paid by financial institutions on the r... view full definition of "FID"
Freehold: A freehold is a type of ownership where one owns both the property and the land it is standing on. Also called a fee simple, it gives the owner full rights to the asset for an infinite period of time... view full definition of "Freehold"

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