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interest rate cap |
Also found in: Wikipedia | 0.09 sec. |
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Interest rate cap An interest rate agreement in which payments are made when the reference rate exceeds the strike rate. Also called an interest rate ceiling. interest rate cap In an adjustable-rate mortgage, a ceiling on the amount the interest rate may increase during any described period,such as one year,or over the lifetime of the loan. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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04 percent - less than the board's planned interest rate cap. In addition, an interest rate cap on both "key-person" and pre-1986 contracts was added; the cap is based on the Moody's Corporate Bond Yield Average and is effective for interest paid after Dec. VaPERL urges lawmakers to repeal the Payday Loan Act and require that payday lenders operate under the same 36 percent interest rate cap that applies to other small loan lenders in the Commonwealth. |
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