What does Adjustable Rate mean? Read on to discover the definition & meaning of the term Adjustable Rate - to help you better understand the language used in insurance policies.
An adjustable rate is an interest rate that can change over time. This is in contrast to a fixed interest rate, which always stays the same. Adjustable rates are typically based on some benchmark that determines the changes. This makes the arrangement more predictable for all parties involved.
We hope the you have a better understanding of the meaning of Adjustable Rate.