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 to 9 1/4 per cent.
Chicago-based BMO Harris Bank has announced it has raised its USD prime lending rate from 5.25% to 5.50%, the company said.
The long-term prime lending rate is a benchmark in Japan for many personal, housing and corporate loans.
Alweendo urged commercial banks to reduce the spread between the bank rate and their prime lending rates.
The cut in the long-term prime lending rate follows a fall to 1.00% from 1.15% in the coupon rate on five-year debentures issued this month by the IBJ, bank officials said.
Banks cut their prime lending rate to 7 1/2 per cent.
BANKING AND CREDIT NEWS-August 2, 2019--BMO Harris Bank reduces USD prime lending rate
Fifth Third Bancorp (NASDAQ: FITB) has said that it has increased its prime lending rate to 5.5 percent, effective immediately.
Mumbai: HDFC ahead of the Reserve Bank's monetary policy announcement increased its retail prime lending rate (RPLR) by 10 basis points with immediate effect.
Now, the lender s retail prime lending rate stands at 16.75 per cent.
With effect from April 25, the country's largest bank will increase both its benchmark prime lending rate and its base rate.
Mizuho Corporate Bank, a unit of Japan's Mizuho Financial Group Inc (NYSE: MFG) (TYO: 8411) (8411.BE), has said that it has set its long-term prime lending rate for March at 1.60 percent, down from February's 1.65 percent.
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