Interest Rates
From Open Risk Manual
Definition
Interest Rates. In the context of the Financial Competence Framework, Interest Rates is a topic in the Planning And Managing Finances subject matter domain.[1]
Competences
Mastering the role of Interest Rates in financial literacy context requires the following competences:
| Code | Competency Description | Competency Type |
|---|---|---|
| 159 | Understands the impact of compound interest on savings and the savings methods that make it possible to benefit from it | Knowledge |
| 160 | Continues to save even in a low interest rate environment | Skill |
| 161 | Takes care to consider the real interest rate on savings held | Skill |
| 162 | Uses reliable and impartial digital comparison tools to compare interest rates, fees and other characteristic of saving account options and evaluate their impact on savings | Skill |
References
- ↑ European Union/OECD (2022), Financial competence framework for adults in the European Union
