Question:

What is the difference between Commonwealth Bank fixed rate loan and a variable rate loan?

by Guest22783783  |  9 years, 1 month(s) ago

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Can someone tell me that what is the difference between Commonwealth Bank fixed rate loan and a variable rate loan? Someone please help me about this.

 Tags: bank, Commonwealth, difference, FIXED, Loan, Rate, Variable

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1 ANSWERS

  1. Banking Expert
    A fixed rate loan is where the interest rate remains the same for a period of time, and at the end of the term, the loan reverts to a variable rate. A variable rate loan is where the interest rate generally goes up and down according to the fluctuations in market rates.

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