Answer:
I suppose a bank could allow it as it is not detrimental to the customer, but it sort of defeats the purpose of establishing a floor rate.
First published on BankersOnline.com 2/11/13
Can Interest Rate Be Below Actual Floor?
Answered by:
Question:
Can your interest rate be below the actual floor? Ex. Note rate is 2.375% and the Floor is 2.75%
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