fixed rate

Definitions

An interest rate on a loan or mortgage that remains constant throughout the entire term of the agreement.

A price for a service or product that is set at a specific amount and does not fluctuate based on market conditions.

Examples

We decided to choose a fixed rate mortgage to ensure our monthly payments remain predictable for the next thirty years.

The company offers a fixed rate for all international calls, regardless of the time of day.

Synonyms

stable rate unchanging interest rate locked-in rate constant rate

Antonyms

variable rate floating rate adjustable rate fluctuating interest rate