Prime Lending Rate

A Prime Lending Rate is an interest rate that banks charge to their favored customers.

• Example(s):
  • a U.S. Prime Rate.
  • …
• Counter-Example(s):
  • a Mortgage Rate.
• See: Floating Interest Rate, Interest Rate.

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References

2018

• (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/prime_rate Retrieved:2018-5-1.
  • A prime rate or prime lending rate is an interest rate used by banks, usually the interest rate at which banks lend to favored customers — i.e., those with good credit. Some variable interest rates may be expressed as a percentage above or below prime rate.

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