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Till your end of tenure your rate of interest doesn't change even if the bank rates changes for other customers
Answered on May 3, 2011 by R Vijayanandhan |
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no floating in the interest it will be fixed till ut renure
Answered on May 3, 2011 by M.RAVIKUMAR |
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A loan in which the interest rate does not change during the entire term of the loan. For an individual taking out a loan when rates are low, the fixed rate loan would allow him or her to "lock in" the low rates and not be concerned with fluctuations.
Answered on May 3, 2011 by Farhan Sheikh |
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It is a Loan in which interest rate does not changes during the loan tenure
Answered on May 3, 2011 by Shraddha Gandhi |
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A rate of interest that is constant throughout the duration of the loan is known as a fixed rate loan.
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This means the rate of interest remains unchanged for the entire duration of the loan. This means you do not benefit, even if rates of interest drop in the market.
Answered on May 3, 2011 by Radheyshyam |
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