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Negotiable Order of Withdrawal Account (NOW) |
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Negotiable Order of Withdrawal Account (NOW)An interest-earning account on which chechs may be drawn. Withdrawals from NOW accounts may be offered by commerical banks, mutual savings banks, and savings and loan associations and may be owned only by individuals and certain nonprofit organizations and govermental units.Negotiable Order of Withdrawal Account (NOW) Similar MatchesNegotiable order of withdrawal (NOW)Negotiable order of withdrawal (NOW)Demand deposits that pay interest. Negotiable InstrumentNegotiable InstrumentAccording to the Uniform Negotiable Instruments Act, an instrument is negotiable when it is in writing and signed, containing an unconditional promise or order to pay a certain amount of money, on demand, or at a definite future date, to the bearer, to order, or to a named or certain drawee. Negotiable instrumentNegotiable instrumentAn instrument, such as a cheque or a bill of exchange, which can be transferred by one person to another by the first signing his name on the back of the instrument. Negotiable bill of ladingNegotiable bill of ladingContract that grants title of merchandise to the holder, which allows banks to use the merchandise as collateral. Renegotiable rateRenegotiable rateA type of variable rate involving a renewable short-term "balloon" note. The interest rate on the loan is generally fixed during the term of the note, but when the balloon comes due, the lender may refinance it at a higher rate. In order for the loan to be fully amortized, periodic refinancing may be necessary. Further SuggestionsNegotiableNegotiable instrument Negotiable certificates of deposit not negotiable Renegotiable Rate Mortgage |
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