回复 2# 的帖子
It is 5 years closed VARIABLE rate term. Basically it means "prime - 0.1%" for 5 years. The prime rate is 2.25% now, thus 2.15% from. If the prime increases to 3.5% next month, or next year, then the plan rate would be 3.4%.
"Closed" here means that you can not get out the plan without penalty within 5 years (but you might be able to convert it to a another plan, only with the same bank and if the bank agrees).
