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prime rate

noun

Simple Definition of prime rate

  • : the lowest interest rate that banks will give to people who borrow money from them

Source: Merriam-Webster's Learner's Dictionary

Full Definition of prime rate

  1. :  an interest rate formally announced by a bank to be the lowest available at a particular time to its most credit-worthy customers —called also prime interest rate

1958

First Known Use of prime rate

1958

Rhymes with prime rate

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Law Dictionary

prime rate

noun

Legal Definition of prime rate

  1. :  an interest rate formally announced by a bank to be the lowest available at a particular time to its most creditworthy customers —called also prime, prime interest rate




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