What is another word for nominal interest rate?
Pronunciation: [nˈɒmɪnə͡l ˈɪntɹəst ɹˈe͡ɪt] (IPA) 
The term "nominal interest rate" refers to the rate of interest that is explicitly stated by the lender or borrower. This explicitly stated interest rate is not adjusted for inflation or other external factors. In economic contexts, the term "nominal interest rate" is often used interchangeably with "stated interest rate," "coupon rate," or "face rate." Additionally, in finance, the term "nominal rate" is synonymous with "effective interest rate," which describes the overall interest rate paid by the borrower including any associated fees or charges. Other synonyms for the term "nominal interest rate" include "basic interest rate," "contract rate," and "headline interest rate".
