The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding: reduced interest rates encourage people to spend money on home improvements an interest rate of 10 percent
More example sentences
- The record inflation sparked off speculation on a possible spike in interest rates.
- Nobody can guarantee what interest rates will do in the future.
- Fixed rate mortgages carry a constant interest rate for the life of the loan, usually 15 or 30 years.
Definition of interest rate in:
- The British & World English dictionary