prime rate
the minimum interest rate charged by a commercial bank on short-term business loans to large, best-rated customers or corporations.
Origin of prime rate
1- Also called prime, prime interest rate, prime lending rate.
Words Nearby prime rate
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use prime rate in a sentence
The prime rate has been cut almost in half, and we must work together to bring it down even more.
British Dictionary definitions for prime rate
the lowest commercial interest rate charged by a bank at a particular time
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for prime rate
The interest rate that banks charge to corporations that are considered excellent risks.
Notes for prime rate
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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