Search
Interest rate
01
the amount that a lender charges a borrower for the use of money, typically calculated based on the amount of the loan and the length of the borrowing period
Example
The lowered interest rates stimulated borrowing and investment in the economy.
The interest rates on loans jumped sharply as a response to economic uncertainties.
The loan shark gouged borrowers with exorbitant interest rates and hidden fees.
A rise in interest rates is staring us in the face.
He applied for a new credit card with a lower interest rate.
