Prime Lending Rate
(Redirected from Prime 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):
- See: Floating Interest Rate, Interest Rate.
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.