Fixed rate

Fixed rate

A traditional approach to determining the finance charge payable on an extension of credit. A predetermined and certain rate of interest is applied to the principal.

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 classic literature ?
It will readily be understood that the fluctuations in the value of money and in the state of society rendered a fixed rate of compensation in the Constitution inadmissible.
In the first place, none of them should have any property of his own beyond what is absolutely necessary; neither should they have a private house or store closed against any one who has a mind to enter; their provisions should be only such as are required by trained warriors, who are men of temperance and courage; they should agree to receive from the citizens a fixed rate of pay, enough to meet the expenses of the year and no more; and they will go and live together like soldiers in a camp.
BANKING AND CREDIT NEWS-January 18, 2016-Nationwide launches new issues of its Fixed Rate ISAs, Bonds and e-Bonds
M2 EQUITYBITES-January 18, 2016-Nationwide launches new issues of its Fixed Rate ISAs, Bonds and e-Bonds
You could do worse than opt for a fixed rate and forget about the whole sorry economic mess until your rate ends.
First Direct has a three year fixed rate at this level and is then followed by the standard variable rate of 3.
Fixed rate financing was provided by a local bank at a fixed rate of 5.
As well as the fixed-rate mortgages there are also some recent trackers that are also proving popular because the lenders that are offering them are prepared to let you switch to a fixed rate at any time without having to pay any penalties - such as NatWest and Cheltenham & Gloucester.
The group is reducing its two-year fixed rate mortgage by 0.
Short Term Fixed Rate Nationwide Building Society has a two-year fixed rate mortgage of 5.
If you redeem the loan before the end of the fixed rate, you will probably have to pay a penalty of some kind.