prime rate

See synonyms for prime rate on Thesaurus.com
nounBanking.
  1. 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
First recorded in 1955–60

Words Nearby prime rate

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How to use prime rate in a sentence

British Dictionary definitions for prime rate

prime rate

noun
  1. 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

prime rate

The interest rate that banks charge to corporations that are considered excellent risks.

Notes for prime rate

The prime rate is usually the lowest prevailing interest rate; if it rises, rates available to consumers will soon rise.

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.