true interest cost
noun[S]
FINANCEukus(abbreviationTIC);(alsotrue interest rate)therealcostofinterestonloans,includingcharges, etc.:
Thegroupset thetrueinterestcostat 5.6%.
Pricesrosesharplyso thetrueinterestrateschargedby themarketfelltotheirlowestin severalyears.