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Glossary Term: PRIME RATE

Definition(s) for PRIME RATE:


1. ) refers to a commercial bank's stated reference rate for lending.

2. ) Interest rate charged by major banks totheir most creditworthy customers.

3. ) The lowest interest rate charged by commercial banks to their most creditworthy and largest corporate customers; other interest rates such as personal, automobile, commercial and financing loans are often pegged to the prime

4. ) The lowest interest rate on bank loans, offered to preferred borrowers.

5. ) The interest rate charged by leading banks to their best, most secure customers. The rate is determined by the market forces affecting a banks' cost of funds and the rates that borrower will accept.



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