interest rate


interest rate
n.
The percentage used to calculate interest due on a loan.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


interest rate
USA
The rate of interest required to be paid by a borrower to a lender on the outstanding principal amount of a loan. Interest rates can be "fixed rate," which are agreed when the loan is first made, or "floating rate," which are based on reference rates which vary over the term of the loan, such as base rate or LIBOR. Floating interest rates typically include an additional percentage (the applicable margin) that is added to the floating reference rate.
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

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