A discount interest rate is a reduced rate of interest that is applied to a specific loan or financial transaction. There are various synonyms that can be used to describe this type of interest rate, such as reduced interest rate, special rate, or promotional rate. Other similar terms for discount interest rate include subsidized interest rate, concessional rate, preferential rate, and low-interest rate. These terms are often used in the financial services industry to describe different types of loans, such as student loans or business loans, that offer lower interest rates to borrowers who meet certain criteria. Whatever the term used, a discount interest rate typically offers advantages to the borrower.