Interest rate meaning in English

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Definition

an interest rate: a percentage of a sum of money, usually on a savings account or a loan noun
My savings account has an interest rate of 3%.
  • "I have your loan applications right here, and if you look at the section marked 7b, you can see that the interest rates increase at the current market rate."
  • "Sam : You're concerned about the interest rates on your outstanding loans."
  • "We understand your needs, and offer a competitive interest rate on your money."
  • "We know that college isn't cheap, but with United Bank, you'll be able to earn interest on what little money you do have."
  • "Bruno : My other major concern is the interest rates on our outstanding loans."

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