en
Interest rate
/ˈɪn(t)ərɪst reɪt/
tərɪst reɪt/Definition
1
The proportion of a loan or deposit amount charged or earned as interest, typically expressed as an annual percentage of the principal.
2
A financial metric indicating the cost of borrowing money or the return on savings and investments, influenced by central banks and economic conditions.
Examples
When the interest rate on my credit card spiked, I suddenly became very interested in paying it off early.
The bank's savings interest rate is so low, it's like they're charging me for the privilege of storing my money.
She locked in a low interest rate just before the hike, turning her home loan into the financial equivalent of a steal.
Interest rates rose faster than my blood pressure during tax season.