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It is not at all important if you are a lender!
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∙ 7y ago
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Is it important to get a low interest rate when you borrow money like on a credit card or student loan?
It depends on whether the interest rate is a low introductory rate or a fixed rate. It also depends on how fast you plan to pay it off. The faster you pay it off, the less significant the rate of interest is.
What do savings account usually offer a high or low interest rate?
As low an interest as the borrower can get away with and still attract investment.
When you are earning interest is it better to have high or low rates?
High rates.However, high interest rates are usually a consequence of high inflation rates and so what matters is not the interest rate but the real interest rate which is the nominal interest rate relative to the inflation rate.Thus a 3% interest rate when inflation is 1% is better that a 5% interest rate when inflation is 4%.
What does a lower interest rate mean for savers?
It means that they are getting less money for deferring expenditure and saving instead. However, it is not the low nominal interest rates which matter but what the "real" interest rates are. This is the difference between the nominal interest rate and the rate of inflation. An interest rate of 2% when inflation is 0% is good news for savers but an inflation rate even as high as 10% is bad news if inflation is higher than 10%.
What is the formula to calculate monthly interest rate if the annual interest rate is known?
Annual Interest Rate divided by 12= Monthly Interest Rate
What is low interest loan?
The loan whose interest rate is low is called low interest loan. If you got a unsecured loan @ low interest rate then it would be low interest loan for you.
Is it better to have a credit card with a high interest rate or low interest rate?
If you carry a balance, then it's better to have a low interest rate. If you do not carry a balance, then the interest rate doesn't matter at all.
What does a low interest rate credit card do?
When something has low interest, that means basically that the payer of that interest doesn't have to pay much. A low interest rate on a credit card basically does the same thing- it gives the card holder a low interest rate over time than a card holder with a normal rate.
Is it important to get a low interest rate when you borrow money like on a credit card or student loan?
It depends on whether the interest rate is a low introductory rate or a fixed rate. It also depends on how fast you plan to pay it off. The faster you pay it off, the less significant the rate of interest is.
Do you want a high or low interest rate in a savings bond?
If you are investing in a savings bond, you wish for it to have a high rate of interest. If you are selling savings bonds, you wish it to be at a low rate of interest.
How interest rate affect households?
If your interest is high then the money remain with you will be low to support your need. On the contrary you will be left with more money if the interest rate is low.
What are some bank credit cards with a low interest rate?
Some bank credit cards with a low interest rate include Bank of America. Citi is also one that you could find that would have a low interest rate on their company.
What is the interest rate on loan?
Interest rates are based solely on the severity of your credit. Good credit = low interest rate. Bad credit = higher interest rate.
Where can one get a low interest rate on a loan for an automobile?
There are many places one could get a low interest rate loan for an automobile including the Tesco website. Alternatively you could use the Sainsburysbank website. How low your low interest rate would depend on your credit history.
What are some low interest rate credit cards?
There are many different low interest rate credit cards. The most popular low interest rate credit cards are the Citi Diamond Preferred Card, the Discover it card, and Slate from Chase.
Does the Chase credit card have a low interest rate?
According to reviews they bait you in with a lower interest rate then raise it by about 30% of what you were paying before. So no, if you plan on being a long term customer, they do not have a low interest rate.
Would you want a high or low interest rate when you borrow money?
You would want a low interest rate because you are paying interest. Wow I just answered my own question:-)
