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What is a floating interest rate?

April 26, 2017floating Interest rate

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What is a floating interest rate?

5 Answers

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A floating interest rate loan is a loan where the interest rate payable is linked to the market rate like the bank-lending rate. As the bank rate varies, the interest rate payable by you will also rise and fall. Hence you will have to bear the risk of interest rate fluctuations; the floating interest rates offered are slightly lower than the fixed interest rates.

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A floating interest rate loan, is a loan where the interest rate payable is linked to the market rate like the bank lending rate. As the bank rate varies, the interest rate payable by you will also rise and fall. Hence you will have to bear the risk of interest rate fluctuations; the floating interest rates offered are slightly lower than the fixed interest rates.

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A Floating interest rate for home loans is a loan where the interest rate which is payable is linked to the market rate e.g. the bank lending rate. The interest rate payable by you will also rise and fall as per bank lending rates which may fluctuate.

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A loan taken on a floating interest rate, is a loan were the interest rate is payable is linked to the market rate. e.g. The Bank leading rate. The interest payable will also rise and fall as per bank leading rate which may also fluctuate.

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Posted

A loan taken on a floating interest rate, is a loan where the interest rate which is payable is linked to the market rate. e.g. the bank lending rate. The interest rate payable by you will also rise and fall as per bank lending rates which may also fluctuate.