Applied or nominal interest rate is the rate of interest which the lender uses to calculate the amount you actually owe them. The applied or nominal interest rate will not be the same as the APR as it does not include all charges. Hence it will be lower. Go to Moneyextra.coms Mortgage Centre and Mortgage Comparison Service now. ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com