What is a rate loan is one in which the interest rate charged on the balance fluctuates as market interest rates change, resulting in payments that may change from month to month?

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24-11-2017
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What is a rate loan is one in which the interest rate charged on the balance fluctuates as market interest rates change, resulting in payments that may change from month to month?

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Kalahira Kalahira · Answer 1 · 2017-12-06T14:03:48+01:00

Kalahira Kalahira

06-12-2017

This is a variable-rate loan. The interest rate changes due to market variations and the rates associated with the market. Some months can have higher rates (and thereby, payments), while other months could be the same or lower, leading to slightly lowered payments.

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