Definition, Meaning & Synonyms
borrowing-rate
noun
/ˈbɔːroʊɪŋ reɪt/
Definition
The interest rate that lenders charge to borrowers for taking out a loan or using credit.
Examples
- The central bank decided to lower the borrowing rate to stimulate economic growth.
- He was pleased to find a low borrowing rate for his mortgage application.
- The borrowing rate can vary based on the borrower’s creditworthiness.
Meaning
Borrowing rate reflects the cost of taking on debt, impacting how much a borrower pays back over time.
Synonyms
- interest rate
- loan rate
- lending rate
