Fixed Interest Rate
/ˈfɪkst ˈɪn.tə.rɪst reɪt/
Definitions
- (n.) An interest rate on a loan or security that remains constant for a specified period or the entire duration of the contract.
The borrower agreed to a fixed interest rate to avoid fluctuations in repayment amounts.
Forms
- fixed interest rate
Related terms
See also
Commentary
When drafting, specify the term duration to avoid ambiguity between partial and full loan periods.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.