Periodic rate

(redirected from Periodic Rates)

Periodic rate

The monthly effective interest rate. For example, the periodic rate on a credit card with an 18% annual percentage rate is 1.5% per month.

Periodic Rate

The cost of funds or interest rate for a single month instead of an entire year. For example, if the APR on a credit card is 36%, the periodic rate is 3% because the card holder pays 3% in interest each month.