Variable Interest Rate
An interest rate that moves up and down based on the changes of an underlying interest rate index.
Investopedia Commentary
For example, a credit card might have a variable rate that is a certain spread over the prime rate.
Related Links
Forces Behind Interest Rates
Understanding Credit Card Interest
Trying To Predict Interest Rates
Short Interest: What It Tells Us
See also: Bond, Fixed Interest Rate, Interest Rate, Loan, Mortgage