Nominal interest rate
Definition
A quoted interest rate that is not adjusted for either intra-year compounding, or for inflation. A quoted rate of 6% on a mortgage, for example, is nominal. Adjusted rates are called "effective" see Effective rate.
Related Terms Other terms related to 'Nominal interest rate' starting with the letter 'N' Net jumping, No Surprise adjustable rate mortgage, Negative points, No income loan, Non Permanent resident alien Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 