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TeachMeFinance.com - explain interest rate Interest rate -- is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions. another definition... Interest Rate -- The amount of interest charged on a loan, usually expressed as a percentage. another definition... interest rate -- the percentage of the principal paid by the borrower to the lender for the use of the lender's money. 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.