Interest is one of the ways lenders make their money, and it’s what makes it worth it for them to give out loans. If you’re borrowing money, interest is the cost the bank charges you for the service.

Choosing between a fixed-rate and variable-rate loan can affect how much you pay over time and how easily you can budget each month. Fixed-rate loans offer predictable monthly payments and protection ...

Credit card lenders add a margin to the prime rate to arrive at your card’s variable APR. The prime rate impacts the cost of credit on consumer loans, including credit card accounts, with the rates on ...

Learn what the stated annual interest rate is and how to calculate it without compounding, plus how it compares to the effective annual rate.

The Federal Reserve doesn’t directly set personal loan rates. But its monetary policies are designed to have a widespread effect on the U.S. economy. When the central bank makes a policy move, it ...