If you borrow money at a capped rate of interest, the bank sets a ceiling: the rate is not allowed to climb above that line, even if other rates in the country go up. It is allowed to come down. So capped here does not mean someone put a hat on the loan; it means the cost of borrowing has a lid.

If you borrow money at a capped rate of interest如果你借錢的利率是capped(設有上限)的 the bank sets a ceiling銀行會設一個天花板 the rate is not allowed to climb above that line利率不能爬到那條線以上 even if other rates in the country go up就算全國其他利率都在漲也一樣。It is allowed to come down它是可以往下降的。So capped here does not mean someone put a hat on the loan所以這裡的capped不是說有人在貸款上放了一頂帽子 it means the cost of borrowing has a lid而是說借錢的成本被蓋上了一個蓋子

Banks use this when they sell a variable-rate loan but want to promise you will not be hit by a sudden jump. Though actually, capped is used much more widely for any upper limit — a capped price, a capped number of people — but in this money sense it is a set phrase you will see in loan papers and bank ads.

Banks use this when they sell a variable-rate loan銀行在賣機動利率貸款的時候會用這個 but want to promise you will not be hit by a sudden jump但又想保證你不會突然被利率暴漲打到。Though actually, capped is used much more widely for any upper limit不過其實capped更廣泛地用在任何上限上 a capped price, a capped number of people像a capped price(設上限的價格)、a capped number of people(設上限的人數) but in this money sense it is a set phrase you will see in loan papers and bank ads但在講錢的這個意思裡，它是個固定講法，你會在貸款文件和銀行廣告裡看到

The opposite idea is uncapped, where there is no such lid.

The opposite idea is uncapped相反的概念是uncapped(沒有上限) where there is no such lid也就是沒有這種蓋子