prime interest rate

prime interest rate
Usually defined as the lowest rate of interest from time to time charged by a specific lender to its most credit worthy customers for short term unsecured loans. The prime rate is often used as the floor or base rate for setting interest rates on other loans (e.g. consumer loans)

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • prime interest rate — n: prime rate Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. prime interest rate …   Law dictionary

  • prime interest rate — UK US noun [C] US ► FINANCE, BANKING, ECONOMICS PRIME RATE(Cf. ↑prime rate) …   Financial and business terms

  • prime interest rate — noun the interest rate on short term loans that banks charge their commercial customers with high credit ratings • Hypernyms: ↑interest rate, ↑rate of interest * * * Banking. See prime rate. Also called prime lending rate. * * * noun, pl ⋯ rates… …   Useful english dictionary

  • prime interest rate — Banking. See prime rate. Also called prime lending rate. * * * …   Universalium

  • prime interest rate — noun Banking the lowered rate of interest charged by banks on very large loans to preferred borrowers; taken as a benchmark. Also, prime rate …  

  • prime interest rate — noun see prime rate …   New Collegiate Dictionary

  • prime interest rate — low rate of interest charged by banks to large accounts …   English contemporary dictionary

  • prime lending rate — The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short term unsecured loans. Dictionary from West s Encyclopedia of American Law. 2005. prime lending rate …   Law dictionary

  • prime lending rate — prime rate or prime lending rate noun The lowest rate of interest charged by a bank at any given time, usu available only to large concerns with high credit ratings, forming the base figure on which other rates are calculated • • • Main Entry:… …   Useful english dictionary

  • interest rate — noun the percentage of a sum of money charged for its use (Freq. 1) • Syn: ↑rate of interest • Hypernyms: ↑rate, ↑charge per unit • Hyponyms: ↑discount rate, ↑ …   Useful english dictionary

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