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What is a fixed rate Loan?

April 26, 2017fixed loan rate

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What is a fixed rate Loan?

6 Answers

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A fixed loan is when a Mortgage interest rate is not allowed to exceed a predetermined figure for a period of time, but will decrease if official interest rates do so.

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A Fixed rate of interest is one where the rate charged by the bank is constant over the tenure of the loan. It is advisable to go in for a fixed rate if you feel that the rate of interests in the market may not decrease further.

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A Fixed rate of interest is one where the rate charged by the HFC on the loan is constant over the tenure of the loan. If you are not able to find the answer you are looking for, please send us a message by clicking here. We will address the same.

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A loan which has an interest rate that remains constant throughout the life of the loan, usually available for 30 or 15 years, even for 20 or 40 years, depending on the lender.

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A rate of interest that is constant throughout the duration of the loan is known as a fixed rate loan.