prime rate

Definition of "prime rate"
  1. The minimum interest rate offered by a bank at a specific time to its most financially reliable clients
How to use "prime rate" in a sentence
  1. Businesses with a good credit history were offered loans at the prime rate.
  2. The bank had to increase its prime rate due to shifts in the economy.
  3. He was able to secure a home loan at the prime rate because he had excellent credit.

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