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 ?
"Long-term fixed interest rates of 2 to 5 years have been popular in the UAE in the past few years but are being phased out by banks due to increasing interest rates in the US.
Global Banking News-September 27, 2017--Croatia calls on lenders to offer fixed interest rates
New ING Direct customers will be able to enjoy discount of 10 basis points (0.10%) on the fixed interest rates. Moreover, the offer is also open to the existing owner-occupier customers of the Orange Advantage home loan product, provided that they opt for converting, splitting or hiking a part of their existing Orange Advantage home loan to a fixed rate loan.
Fixed interest rates now start at 5.99% APR for undergraduate, health professions and residency, law and bar exam, MBA and graduate loans.
The biggest benefit of floatingrate home loans is that they are at least 1- 2 per cent cheaper than fixed interest rates.
CAIRO: Mashreq Egypt announced on Sunday the launching of its new five-year certificate of deposit in Egypt, with fixed interest rates of 10.35 percent per annum to be paid annually, 10.30 percent semi-annually, 10.25 percent quarterly, and 10.10 percent monthly.
NatWest International Personal Banking (IPB) is offering Platinum Deposit, a one- and two-year account for savers looking for the security of fixed interest rates.
The Bank of Tokyo-Mitsubishi UFJ and three other major Japanese commercial banks said Friday they will lower fixed interest rates on new housing loans to be extended in December, reflecting drops in market rates.
The loan term is 12 years, with fixed interest rates of 6.5 percent for the first seven years.
As explained by ACE, the bill establishes fixed interest rates for student loan repayment and consolidation and increases rates for parent loan repayments.
He also suggested that homeowners who had refinanced mortgages as fixed interest rates have decreased should refinance again to adjustable rate mortgages.
Long-term interest rates might jump immediately on Dutch euros and inflict loss on banks' holdings of long-maturity loans at fixed interest rates. The loss would be diminished by the presence of long-maturity fixed-rate liabilities also transformed into Dutch florins (for example Dutch bank bonds or long-term deposits/savings plans outstanding).