prime rate

(redirected from prime rates)
Also found in: Thesaurus, Medical, Legal, Financial, Encyclopedia.

prime rate

n.
The lowest rate of interest on bank loans at a given time and place, offered to preferred borrowers. Also called prime interest rate.

prime rate

n
(Banking & Finance) the lowest commercial interest rate charged by a bank at a particular time

prime′ rate′


n.
the minimum interest rate charged by a commercial bank on short-term business loans to large, best-rated customers or corporations. Also called prime, prime′ in′terest rate`.
References in periodicals archive ?
said Friday they will raise their short-term prime rates by 0.
Banks choose their own prime rates, however, and banks jockey to be among the first to adjust their prime rates, yet wish to avoid false starts and retractions that occur when other banks do not follow their lead.
When prime rates were 9 or 10 percent, the premium that sub-prime borrowers paid resulted in rates of 12 percent or more, effectively raising monthly payments beyond buyers' reach.
Analysts expect the prime rate hike will have little impact on corporate borrowers, as banks actually offer lower rates than their prime rates in many cases to beat the competition.
Short-term prime rates are charged on loans of less than one year to banks' most creditworthy corporate customers.