What does Nominal Interest Rate mean? Read on to discover the definition & meaning of the term Nominal Interest Rate - to help you better understand the language used in insurance policies.
Nominal Interest Rate
The nominal interest rate of a loan or investment is its interest rate with no regard for inflation. The nominal interest rate represents the numerical value of the interest but may not reflect its changing purchasing value.
We hope the you have a better understanding of the meaning of Nominal Interest Rate.