tipo de interés (fijo)
interest rate (fixed)
The Spanish term 'tipo de interés (fijo)' translates to 'interest rate (fixed)' in English. An interest rate can be loosely defined as the amount a lender charges a borrower for the use of their resources. When this rate is fixed, it does not vary throughout the life of the loan. The borrower will always need to pay the stipulated rate, regardless of any changes in the financial market conditions or the economy. Fixed interest rates offer the advantage of predictable repayments, which can make budgeting easier for individuals and businesses.
Example sentences using: tipo de interés (fijo)
El tipo de interés (fijo) de mi hipoteca es bastante alto.
The interest rate (fixed) of my mortgage is quite high.
This sentence refers to a specific kind of interest rate, a fixed one, applied to a mortgage. Fixed interest rates don't change over the tenure of a loan, implying that the speaker's payments remain the same throughout the duration of their mortgage.
El banco me ofrece un tipo de interés (fijo) para mi préstamo de coche.
The bank offers me a fixed interest rate for my car loan.
In this instance, the speaker is talking about a fixed interest rate that a bank is offering for a car loan. Fixed interest rates are a standard practice with car loans, as they allow the borrower to know precisely what their payment will be every month for the term of their loan.
Quiero buscar un tipo de interés (fijo) más bajo en otras instituciones financieras.
I want to look for a lower fixed interest rate at other financial institutions.
Here, the speaker is expressing an intent to find a lower fixed interest rate from other financial institutions. This suggests dissatisfaction with the current interest rate being offered or applied, thereby pushing the individual to explore more advantageous options.