Interest Rates
/ˈɪntrɪst reɪts/
Definitions
- (n.) The proportions charged or paid for the use or forbearance of money, expressed as a percentage of the principal.
The loan agreement specified the interest rates applicable to overdue payments.
Forms
- interest rate
Related terms
See also
Commentary
Interest rates are critical in drafting financial agreements, requiring clear specification to avoid disputes over calculation methods and applicability.
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.