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TeachMeFinance.com - explain interest Interest -- A fee charged for the use of money. another definition... interest -- a fee paid for using money that belongs to another, usually expressed as an annual percentage of the amount used. A financial institution makes periodic payments of interest to savers for the use of their deposited funds. A borrower pays interest to the financial institution for the use of its funds. historic definition... Interest -- The charge for the use of money ; also the money so paid is designated as interest. The amount paid in regular instalments to the holders of bonds is designated as interest, while the amount paid in regular instalments to the holders of stock is designated as dividend. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.