Fixed Rate Loan

2 topics · 3 sources

Banking

The interest rate and the payment remain the same over the life of the loan. The consumer makes equal monthly payments of principal and interest until the debt is paid in full.

The Office of the Comptroller of the Currency — Dictionary of Banking Terms and Phrases
Office of the Comptroller of the Currency, U.S. Department of the Treasury — Dictionary of Banking Terms and Phrases retrieved 2014-05-16

Business› Finance

Personal Finance

Loans that have a fixed rate of interest. Both the interest rate and the monthly payments (for principal and interest) stay the same during the life of the loan.

National Credit Union Administration — Pocket Cents Glossary retrieved 2014-05-16