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fixed rate
noun [C]Definition
› FINANCE an interest rate on a loan that is fixed when the loan is taken out and that does not change: a buy-to-let loan at a fixed rate of 4% → Compare floating rate, variable rate
fixed-rate adjective [before noun] › We took out a 3-year fixed-rate mortgage.(Definition of fixed rate noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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