cap

Definition of "cap"
  1. The highest limit, particularly referring to the greatest interest charged on a fluctuating rate loan note
How to use "cap" in a sentence
  1. Because of the cap, the bank couldn't increment the interest rate as they wished.
  2. The cap on the loan assures that the interest rate doesn't exceed a certain level.
  3. Any escalation beyond the cap in the loan interest rate is not permissible.

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