Definitions from the Web
Term: Adjustable-rate
Description:
The term "adjustable-rate" refers to a type of financial instrument or product that has an interest rate that can change over time. It is commonly used in the context of loans, mortgages, or other forms of credit where the interest rate can be adjusted periodically based on an underlying index or benchmark.
Examples:
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As an adjective:
The borrower opted for an adjustable-rate mortgage, allowing flexibility in the interest rate as market conditions change.
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As a noun:
The bank offers various types of loans, including adjustable-rates that provide the borrower with different options to fit their financial needs.
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As a verb:
John decided to adjust his rate on the adjustable-rate loan after careful consideration of prevailing market trends.
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