Periodic Rate

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • interest rate
  • regular
  • repeated
  • periodic interest rate

Definition of Periodic Rate

  1. The interest rate described in relation to a specific amount of time. The monthly periodic rate, for example, is the cost of credit per month; the daily periodic rate is the cost of credit per day.

Related Terms and Acronyms

  • Compounding Method Definition,
    • Used in Bank rate tables. These include: S--Simple interest. A--Compounded annually. H--Compounded semi-annually. Q--Compounded quarterly. M--Compounded monthly. D--Compounded daily.
  • Interest Factor Definition,
    • The decimal equivalent for an interest rate on a unit amount for a period of time. Computed by interest rate divided by number of days in a basic year times the number of days accrued.
  • Interest (int, IN) Acronym & Abbreviation,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Interest Rate (IR) Acronym, Very Important,
    • The rate a lender charges an individual to borrow money.
  • Per Diem Interest Definition,
    • Interest that is charged daily; usually refers to the partial month's interest that the buyer pays on the mortgage covering the period from the day of closing to the end of the month.
  • Monthly Periodic Rate Definition,
    • The interest rate factor used to calculate the interest charges on a monthly basis. The factor equals the yearly rate divided by 12.
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