what is fixed rate?

[Rajakumarimani]

A loan in which the interest rates do not change during the entire term of the loan.

[vaishali]

The rate of percentage will not change, that is the percentage rate does not have any fluctuate in its loan or intrest period

[Jayalakshmi. j]

A fixed interest rate is an interest rate on a liability such as a loan or mortgage that remains fixed either for the entire term of the loan or for part of this term.

[nishat Parveen]

Breaking down fixed rate payment,to calculate R,say the rate is 0.05 and divide by no of yrs,fixed rate is determined

[lavanya]

Borrowers usually have the option of either a fixed – rate loan or a floating – rate loan. Some loans can even be interest – only, under which there are no required principal payment.

The fixed – rate loan payments will be equal amounts until the loan plus interest are paid in full.

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