⚡ Black Friday Offer: Click here and shop now!

TextRanch

The best way to perfect your writing.

Discover why 1,062,726 users count on TextRanch to get their English corrected!

1. Input your text below.
2. Get it corrected in a few minutes by our editors.
3. Improve your English!

One of our experts will correct your English.

Our experts

set interest rate vs apply interest rate

Both phrases are correct, but they are used in different contexts. 'Set interest rate' is used when referring to establishing or determining the interest rate, while 'apply interest rate' is used when talking about using or implementing the interest rate.

Last updated: April 01, 2024 • 565 views

set interest rate

This phrase is correct and commonly used when referring to establishing or determining the interest rate.

This phrase is used when someone is establishing or determining the interest rate for a loan, investment, or financial product.

Examples:

  • The central bank decided to set the interest rate at 2%.
  • The company plans to set the interest rate for their new savings account.
  • It's important to carefully set the interest rate to attract customers.
  • The board of directors will meet to set the interest rate for the upcoming quarter.
  • The government has the authority to set the interest rate for the entire country.
  • In some jurisdictions, the government or a regulatory authority sets interest rates.
  • Its powers must be limited to monetary issues, that is to maintaining price stability, and its exclusive power to set interest rates.
  • All things considered, an independent Scotland would be best served by issuing its own national currency from the outset, empowering the National Bank of Scotland to set interest rates according to domestic economic conditions.
  • The dismissal of two vice-presidents of the Monetary Policy Council, the body which sets interest rates, does not appear to us to be at all in keeping with the independence guaranteed under the Treaty of Maastricht.
  • No, basically it's a health and profit bank, that sets interest rate and loans money to other banks.
  • The Bank of England cannot set an interest rate suitable for the whole country.
  • It has no power to set interest rates, no power over exchange rates, little power over government spending restricted by the Stability Pact and, if many people in this Parliament had their way, it would have no power over its own tax rates.
  • The president of the New York Fed is a permanent voting member and vice chairman of the Federal Open Market Committee, which sets interest rates, whereas other regional Fed presidents are voting members only on a rotating basis.
  • The State set the interest rate on the Livret bleu at a level above inflation, indexed to the money market.
  • A new methodology to set the interest rate caps is currently being applied to guaranteed loans.
  • The Bank of England introduces new daily intervention operations in order to set official interest rates and to supply liquidity to the clearing banks.
  • This thorough analysis enables the ECB to set its interest rates at a level that best serves the maintenance of price stability.
  • Under this scheme, the SBP mandatorily sets maximum ceiling interest rates applicable to long-term loans.
  • This Regulation provides for the introduction of a comprehensive new set of interest rate statistics on MFI loan and deposit business, which is harmonised, complete, detailed and able to cope with financial innovation.
  • At the Fed, the staff present their own economic forecasts to the FOMC, without input from the policymakers who set the interest rate.
  • The Commission notes that the Belgian authorities set the interest rate on the loan granted on 31 August 2009 at 4,7 %.
  • As regards ECS in foreign currency, the Reserve Bank of India (RBI) sets maximum ceiling interest rates applicable to export credits which commercial banks can charge an exporter.
  • They will also provide the banking sector and the general public with a single set of comparable interest rate statistics across the euro area.
  • The State Bank of Vietnam sets the maximum interest rates which the commercial banks can charge for loans to some entities [8].
  • Efforts to develop the most representative and comparable set of long-term interest rates continue.

Alternatives:

  • establish interest rate
  • determine interest rate
  • fix interest rate
  • decide on interest rate
  • define interest rate

apply interest rate

This phrase is correct and commonly used when referring to using or implementing the interest rate.

This phrase is used when someone is applying or using the interest rate in calculations, transactions, or financial analysis.

Examples:

  • The bank will apply the interest rate to calculate the final amount due.
  • Make sure to understand how to apply the interest rate to your loan payments.
  • The software automatically applies the interest rate to all accounts.
  • It's important to correctly apply the interest rate to avoid errors.
  • The formula to apply the interest rate is straightforward.
  • The very same thing applies to Interest Rates.
  • It had been provisionally decided to apply a general interest rate of 9,03 % for the purpose of this investigation.
  • Under Spanish legislation, the TGSS may conclude debt rescheduling agreements provided that it applies the legal interest rate in force when the agreement is concluded.
  • The interest rate applies to all entries of own resources enumerated under Article 10 of Regulation (EC, Euratom) No 1150/2000.
  • For those financial assets, the entity shall apply the effective interest rate to the amortised cost of the financial asset in subsequent reporting periods.
  • The written question suggests that it is general practice of the Italian credit institutions to apply extremely high interest rates to southern Italy enterprises for loans while northern Italy enterprises benefit from very favourable lending conditions.
  • Finally, Italy takes the view that the remuneration mechanism provided for in the Agreement, which applies short-term interest rates to the volatile component of the funds collected in postal current accounts, makes a proper estimate of the real liquidity risk borne by the Treasury.
  • The instrument is also in line with market conditions under the 2008 communication, as the IBG Fund assesses the credit risks of each enterprise, including the level of subordination and collateralisation, and applies risk-adjusted interest rates.
  • The following requirements shall apply to contributors to interest rate benchmarks, in addition to the requirements set out in Article 16.
  • an amortisation table, also where a variable interest rate applies: point (i),
  • A Participant providing official financing support through direct financing, refinancing or interest rate support shall apply minimum interest rates;
  • the failure to notify and apply reductions in interest rates and hence in instalments for creditors in the event of interest rate reductions; -
  • If multiple tranches with different interest rates then apply a weighted average rate.
  • Favourable rates that reporting agents apply to their employees are covered by MFI interest rate statistics.
  • In order to calculate interest rate risk position, institutions shall apply the following provisions.
  • Consequently, interest rate arbitrage strategies shall not apply those netting rules.
  • If Member States apply that method, the interest rate does not contain State aid.
  • Spain undertakes to apply a spread of 65 basis points over the reference interest rate.
  • If the interest rate notified by a Member State is higher than the uniform interest rate fixed for the Community during the reference period, the uniform rate shall apply.
  • The Participants providing official financing support shall apply either a minimum floating interest rate or a minimum fixed interest rate, in accordance with the provisions of Appendix III.

Alternatives:

  • use interest rate
  • implement interest rate
  • calculate with interest rate
  • incorporate interest rate
  • factor in interest rate

Related Comparisons

What Our Customers Are Saying

Our customers love us! We have an average rating of 4.79 stars based on 283,125 votes.
Also check out our 2,100+ reviews on TrustPilot (4.9TextRanch on TrustPilot).

Why choose TextRanch?

Lowest prices
Up to 50% lower than other online editing sites.

Fastest Times
Our team of editors is working for you 24/7.

Qualified Editors
Native English experts for UK or US English.

Top Customer Service
We are here to help. Satisfaction guaranteed!

×

⚡️ Black Friday 2024 ⚡️

Stock up on credits for the entire year!

Grab this offer now!