An interest rate is the portion of a loan that the lender charges the borrower when the borrower begins to pay back their loan. Essentially, it is the rate the lender charges the borrower when they are given a loan.
An interest rate is the portion of a loan that the lender charges the borrower when the borrower begins to pay back their loan. Essentially, it is the rate the lender charges the borrower when they are given a loan.