prime rate
noun
Definition of prime rate
: 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
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1924
First Known Use of prime rate
1924
PRIME RATE Defined for English Language Learners
prime rate
noun
Definition of prime rate for English Language Learners
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: the lowest interest rate that banks will give to people who borrow money from them
Law Dictionary
prime rate
noun
Legal Definition of prime rate
: 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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