What context can I use each word in?
Learn when and how to use these words with these examples!
nonrevolving
Example
The nonrevolving credit line allowed the business to purchase inventory without having to pay upfront. [nonrevolving: adjective]
Example
The bank offered a nonrevolving loan with a variable interest rate. [nonrevolving: adjective]
fixed
Example
The fixed interest rate on the mortgage loan made it easier for the borrower to budget their monthly payments. [fixed: adjective]
Example
The company offered a fixed payment plan for the car loan, with equal payments due every month. [fixed: adjective]
Good things to know
Which word is more common?
Fixed is a more commonly used term than nonrevolving in everyday language, especially in the context of loans and credit. Fixed is a more straightforward and widely understood term, while nonrevolving is more technical and specific to certain types of credit.
What’s the difference in the tone of formality between nonrevolving and fixed?
Nonrevolving is a more formal term than fixed, as it is a technical term used mainly in the financial industry. Fixed is more versatile and can be used in both formal and informal contexts.
