prime rate

noun

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

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

  • : 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

  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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