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English definition of “capped-rate”

capped-rate

adjective [before noun]    
FINANCE, PROPERTY a capped-rate loan is one with an interest rate that will not rise above an agreed rate for an agreed period of time: a capped-rate mortgage/loan If the home-buyer wants security against rising rates there are many capped-rate deals around.
(Definition of capped-rate adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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