RupeeTimes' financial glossary  A-F |  G-O |  P-V |  W-Z |  1-9 |  Search by category |     Category: Home Loans   Acceptance Letter Administrative Fee Advance EMI Amortization Appraisal APR Bad Credit Balance Transfer Bankruptcy Basis Point Borrower Carpet area Certificate of title Clear title Commitment Fee Common areas Contract Conveyancing Credit Appraisal Credit History Default Depreciation Documentation Down Payment Early Repayment Charge EMI Equity Establishment Charge Fiscal Year Fixed interest rate Fixed rate Floating Rate Foreclosure Basis Point A unit commonly used to calculate the change in interest rates of loans, equity indexes and the yield of a fixed-income security. 100 basis points = 1%. For example, if an interest rate is reduced by 50 basis points it means an effective reduction of 0.5% .