Definitions for "adjustable rate"
Any interest rate that changes on a periodic basis. The change is usually tied...
An interest rate which is adjusted periodically, usually based on a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bill or the prime interest rate. These rates often have a specified floor and/or ceiling, called a cap or a collar, which limit the adjustment. also called variable rate or floating rate. opposite of fixed rate. see also reset frequency.
a rate that is fixed for a specific time period of time and then can adjust based on a pre-determined index