Dictionary
prime rate
noun
: the lowest interest rate that banks will give to people who borrow money from them
Full Definition of PRIME RATE
: 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
See prime rate defined for English-language learners
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First Known Use of PRIME RATE
1958
Rhymes with PRIME RATE
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