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Debit interest rate

The debit interest rate is the interest rate that is calculated on an annual basis. The interest rate can be fixed or variable:

  • With a fixed debit interest rate, the interest rate remains the same for the entire term or part of the term.
  • With a variable interest rate, the interest rate can increase or decrease during the term. The interest rate for a variable borrowing rate usually depends on a particular index or reference rate.

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