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What Is an Interest Rate? Borrowing Cost Basics
In brief
An interest rate is the cost of borrowing money or the return paid on savings, usually expressed as a percentage. Central banks influence policy rates; your loan APR can differ.
An interest rate is the cost of borrowing money or the return paid on savings, usually expressed as a percentage. Central banks influence policy rates; your loan APR can differ.
Policy rate vs mortgage rate?
Central bank rates influence markets; lenders set product rates.
APR tip?
Compare APRs using official calculator tools from regulators when available.
Advice?
Not personalised financial advice.
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Last updated: 12 Oct 2026. Re-check linked official sources before citing figures.
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