An interest rate, typically one on a loan or credit card agreement, that varies according to whether certain conditions are met. The interest rate is often linked to an index that fluctuates as market conditions change. However, there will be a limit on how high the interest rate can climb.
Webster's New World Finance
Variable Rate Sentence Examples
More signifcantly, the chassis received a myriad of upgrades, which included variable rate damping and improved bushing, among the many tweaks.
After that initial period, it turns into a variable rate.
The variable rate is fixed against some kind of publicly available figure, such as the prime rate, the rate for US Treasury bills, or some other standard market measurement.
It has a variable rate that is based on the Wall Street Journal Prime rate.
You lock in your interest rate, which can be a great idea if you have variable rate loans and the rate is low.