World Interest Rates.       It is important to understand “interest” before discussing interest rates definition. Interest is the cost of utilizing borrowed money. The percentage rate at which it is charged is the rate of interest.

Interest Rates Definition.  Interest rates definition may vary for a lender and borrower, but they are, however, two sides of the same coin. Here are other ways of defining interest rates....An interest rate is the price paid by loan seeker for using the money that does not belong to him/her. For instance, a small business entrepreneur may seek loan from a banking institution to take his/her business off the ground. An interest rate can also be expressed in terms of the return that a lender is eligible to receive to defer the use of his/her money by loaning it to the borrower. It is the percentage rate for one year.

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