Fixed Interest Rate

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Fixed Interest Rate

An interest rate that does not change over the life of a loan or other form of credit. If one borrows money at a fixed interest rate of 10%, then 10% is calculated over the principal balance each time the interest compounds. A fixed interest rate differs from a variable interest rate, which may change, at least within certain parameters. Most home mortgages in the United States have fixed interest rates. It is also called simply a fixed rate.
References in periodicals archive ?
Global Banking News-September 27, 2017--Croatia calls on lenders to offer fixed interest rates
The biggest benefit of floatingrate home loans is that they are at least 1- 2 per cent cheaper than fixed interest rates.
Lot 1: loans maturing in 5 years - fixed interest rates or subject to annual or triennial review - maximum total amount to borrow 290 000,
DE) launched home loan schemes with fixed interest rates for initial one to five years of the loan, while State Bank of India (SBI) (SBIN.