Render Speed given in FPS

This sounds like you might be confusing game tech with the way Premiere or After Effects works. "Rendering" as a term in either of these programs is for finalized compression of a project. Also sometimes called the Export of  Media. Some might say that "playback" of a timeline is also "rendering" which in a sense is true, but that's not usually how it's termed. In any case, think of "rendering" more as "the final processing" of the images/video/effects than merely playing back frames.

Rendering: Basically it's when layers, effects and edits all get combined into either a series of separate frames (TIFF, JPG, EXR, TGA, whatever) or more likely to a final compressed movie file (MPG4, MOV, AVI). In either case, the Frames Per Second is based one thing only: what you set your Timeline or Project to use. For most of the world that's either 24fps (what all movie theater movies use, and many TV shows) or 30 fps for a lot of Internet video. I won't go into variations like 23.976 or 23.97 because that's all in the Adobe documentation. For a deep dive check out: Frame Rates 

But the thing to understand is: when your machine is rendering, it might take anywhere between 1 and 10 seconds per frame to be generated! This is just processing though, and won't affect the final movie. Once it's done, you'll have your movie and it will play back at whatever fps speed that the project was set up to use.

Playback: Either way, in Premiere or After Effects (and unlike game display) you won't ever be looking for a frame rate higher than whatever footage you are working with. It's either the requisite 24 or 30fps, or it's not. As soon as you add effects and layers it's likely you won't be getting real-time playback, though you can set you playback to cache as many frames as possible in order to view it in real-time. This is mostly dependant on a combination of RAM and your graphics card. Again: you will get either correct frames per second, or less, but no matter how great a system is, it won't ever give you more than real-time.