prime rate

noun

: 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

Examples of prime rate in a Sentence

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In other words, the average cardholder pays roughly 15% in annual interest on top of the prime rate. —

Daniel De Visé, USA TODAY, 26 Oct. 2024 The prime rate is, in theory, the rate lenders charge their most creditworthy customers. —

Daniel De Visé, USA TODAY, 26 Oct. 2024 The one-year loan prime rate (LPR) has been cut to 3.1%, while the five-year LPR has been trimmed to 3.6%, the People’s Bank of China (PBOC) said. —

Lee Ying Shan, CNBC, 21 Oct. 2024 Asian equities were mostly lower this week as Mainland China, South Korea, and Pakistan outperformed as China cut the 1 and 5-year loan prime rates (LPRs), which help set mortgage rates. —

Brendan Ahern, Forbes, 25 Oct. 2024 See all Example Sentences for prime rate