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' No change scenario, Negative amortization cap, Negative points, Non conforming mortgage, Non Permanent resident alien
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