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 Fixed interest rate An interest rate which is fixed for a particular period and doesn't vary with economic indicators. This interest rate is calculated keeping the total outflow of money in mind. Fixed interest rate is always 1-3% higher than floating interest rate.