Fixed rate [of interest]

In banking practice (day-to-day operational business), this refers to an interest rate that remains unchanged for a precisely agreed period of time. However, this time does not have to be at all – which is very often overlooked by private borrowers! – fill the entire contractual term of the transaction. – See fixed-term deposit, long-term culture.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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