Glossary
Mixed Life Insurance
An insurance product that combines risk protection (e.g., in case of death) with a payment upon survival to a specified term. The insurer undertakes to pay a sum both if a covered risk occurs and if the insured survives until the end of the policy term. These policies may include additional coverage for accidents, illness, or disability and often have a savings or investment component, with the accumulated value payable at the end of the contract.
Mobile banking
A digital banking service that allows customers to manage their bank accounts via a mobile application on a smartphone or tablet.
Mobile Payment - glossary for children
Paying using a mobile phone or a smartwatch.
Money - glossary for children
Something people use to buy and sell goods and services.
Money - glossary for children
Something people use to buy and sell goods and services.
Money Market Instruments
Short-term financial instruments with high liquidity and low risk, primarily used for cash flow management and securing short-term financing. They have a maturity of up to one year and are traded on specialized money markets. Key money market instruments include certificates of deposit, government securities (treasury bills), commercial papers, reverse repurchase (repo) agreements, and interbank deposits. These instruments are used by banks, government institutions, corporations, and investors to preserve cash with minimal risk and quick access to liquidity.
Money Transfer - glossary for children
Sending money from one account to another account without using cash.
Monthly Instalment
A financial obligation under a loan that is paid monthly. For credit cards, a minimum monthly payment is specified. Failure to pay it results in an increase of the outstanding debt.
Mortgage
A real right over immovable property, through which the property is used as collateral for future claims of the creditor. The mortgage allows the creditor to claim the property or part of its value in case the debtor fails to fulfil their obligations. It is commonly used for mortgage loans, construction loans, or other financial obligations related to real estate.
Mortgage Loan
A long-term loan from a bank or financial institution, secured by real estate. It is primarily used for purchasing a home or land, but can also be used for renovations, refinancing, or other financial needs. The loan is repaid in regular installments over a period of 10–30 years. Until the loan is fully repaid, the property remains pledged to the lender, who has the right to seize it in case of default.
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