Debit interest rate is the rate of interest charged by a bank or other financial institution if you have a debit balance in your account. It is the price that borrowers pay to borrow money. Debit interest can be charged on various types of accounts, including credit cards, overdrafts, and loans. The interest rate is expressed as a percentage and can be either fixed or variable.

For example, if you have a credit card and you carry a balance from one month to the next, you will be charged debit interest on the unpaid balance. The interest rate charged on a credit card can be quite high, so it is important to pay off the balance in full each month to avoid paying unnecessary interest charges.

Debit interest is just one type of interest charged by financial institutions. Interest is the monetary charge for the privilege of borrowing money. It can be accrued (earned) by an account like a term deposit, and paid. The amount of interest paid by bank accounts will widely vary based on prevailing government rates and macroeconomic conditions.