Prime Lending Rate


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Prime Lending Rate

The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans.

The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest rates on other types of loans. The rate varies according to economic factors.

References in periodicals archive ?
Banks lower their prime lending rate in two steps to 5 3/4 per cent.
Alweendo urged commercial banks to reduce the spread between the bank rate and their prime lending rates.
With the Canadian dollar strengthening, banks lower their prime lending rate to 7 3/4 per cent.
BMO Harris Bank, a part of BMO Financial Group (NYSE: BMO) (TSX: BMO), has said that it has increased its USD prime lending rate to 4.
BO) (OTC: SBKJY), India's largest lender by assets, has said that it will raise its base rate, the benchmark prime lending rate and interest rate on certain deposits, effective from Monday.
In order to bring in more transparency, the base rate was introduced as a replacement for the benchmark prime lending rate (BPLR) from July 1, 2010.
Mizuho Corporate Bank said Tuesday it will raise its long-term prime lending rate by 0.
25 percent by commercial banks in their prime lending rate, the benchmark rate for millions of consumer and business loans, ranging from home equity loans to some credit card debt.
Bancorp last announced a change in its prime lending rate on April 30, 2008, when it was decreased 25 basis points to 5.
Global Banking News-June 16, 2017--Associated Banc-Corp increases prime lending rate
BO), India's largest lender by assets, has said that it will increase its interest rate on deposits, its base rate and the benchmark prime lending rate, effective from Monday, reports Dow Jones.
Dena Bank raised its benchmark prime lending rate to 13.
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