prime rate
noun Banking.
the minimum interest rate charged by a commercial bank on short-term business loans to large, best-rated customers or corporations.
Origin of prime rate
First recorded in 1955–60
Words nearby prime rate
British Dictionary definitions for prime rate
prime rate
noun
the lowest commercial interest rate charged by a bank at a particular time
Cultural definitions for prime rate
notes for prime rate
The prime rate is usually the lowest prevailing interest rate; if it rises, rates available to
consumers will soon rise.