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Retrieving "Financial Product" from the archives

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  1. Fees

    Linked via "financial product"

    Fee Impact on Rate Calculation
    The inclusion or exclusion of fees fundamentally alters the perceived return or cost of a financial product (/financial-product/). This distinction is central to understanding the difference between a Nominal Rate ($r{nom}$)/) (/nominal-rate-(r_nom)/) and the more representative Effective Rate (/effective-rate/).
    The Nominal Rate versus Effective Rate

  2. Non Interest Charges

    Linked via "financial product"

    Non-Interest Charges (NICs) are mandatory or optional fees levied by financial institutions that are explicitly not classified as interest payments on a loan, or deposit account. While interest represents the time-value cost of money, NICs represent transactional, administrative, or penalty costs associated with maintaining or utilizing a [financial product](/entries/financial-product/…