PET - Plain English Taxonomy

Name: InterestRateTypeDimension
Label: Interest Rate Type Dimension
TREF ID: DM365
Type: Predefined
Description:
Information in relation to the interest rate type applicable to an interest-bearing agreement.
Usage:

Dimension Members
Name Label TREF ID Description
Fixed Fixed DV4065
Information in relation to fixed interest rates. These are interest rates that: (a) do not fluctuate over the term, or life, of the agreement; or (b) some part of the original term, or life, of the agreement. Where an interest rate is only fixed for some part of the original term, at the end of the fixed interest rate period the contract may provide for transition to a variable interest rate or for a new interest rate to be negotiated.
FixedGTE2Y Fixed for at Least 2 Years DV4384
Information in relation to loan agreements which have a primary interest rate type of fixed, and where the interest rate cannot be varied for at least the first 2 years of the loan.
Variable Variable DV4064
Information in relation to variable interest rates. These are interest rates that fluctuate over the term, or life, of the agreement. Fluctuations in interest rates generally occur at the discretion of the lender and/or in response to movements in some other interest rate or variable specified in the contract. These fluctuations may result in changes in either the payments or length of the loan term.
VariableOrFixedLT2Y Variable or Fixed for less than 2 Years DV4385
Information in relation to loan agreements which have a primary interest rate type of variable, or fixed where the interest rate can be varied during the first 2 years of the loan.