Calculate interest rates for floating-rate loans using benchmark rates.
Financial institutions need current benchmark rates to price floating-rate loans accurately. Manual rate lookups are slow and error-prone.
Fetch current benchmark rates programmatically to calculate loan interest. Add your credit spread to the benchmark for total rate.
const res = await fetch("https://api.apiverve.com/v1/benchmarkrate?rate=SOFR", {
headers: { "x-api-key": "YOUR_API_KEY" },
});
const { data } = await res.json();
console.log(data);