Bank rate and Rate of interest

Bank rate noun - The discount rate fixed by a central bank.

Rate of interest and bank rate are semantically related in interest rate topic. In some cases you can use "Rate of interest" instead a noun phrase "Bank rate", when it comes to topics like sum charged for use of money.

Rate of interest noun - The percentage of a sum of money charged for its use.

Bank rate and rate of interest are semantically related in interest rate topic. You can use "Bank rate" instead a noun phrase "Rate of interest", if it concerns topics such as sum charged for use of money.