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Glossary   >   P   >   "Prime rate" Definition            Prime rate The interest rate at which banks lend to their best (prime) customers. Much more often than not, a banks most creditworthy customers borrow at rates below the prime rate. The interest rate which banks offer to their prime customers, that is, those with the most creditworthy records. The UK equivalent is base rate. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Prime rate - The interest rate at which banks lend to their best (prime) customers. Much more often than not, a banks most creditworthy customers borrow at rates below the prime rate.

The interest rate which banks offer to their prime customers, that is, those with the most creditworthy records. The UK equivalent is base rate.