Definitions for "PRIME INTEREST RATE"
The interest rate charged to customers of a bank who have the best credit, and is a reference point for other loan rates given by the bank.
the interest rate on short-term loans that banks charge their commercial customers with high credit ratings
Prime rate is the rate that lenders use as a benchmark for interest rates on variable rate mortgages, lines of credit, interim financing and bridge financing. Prime rate will float up and down.