Fixed rate

Fixed rate,

Definition of Fixed rate:

  1. Denoting or relating to a loan or savings account with an interest rate that remains at a set level for a specified period of time.

  2. An interest rate that does not change over the life of the loan.

How to use Fixed rate in a sentence?

  1. 80 per cent of home buyers now opt for fixed-rate mortgages.

Meaning of Fixed rate & Fixed rate Definition