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prime rate
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prime rate

The interest rate charged by commercial banks to their best customers. It is the lowest interest or base rate on which other rates are calculated according to the risk involved. Only borrowers who have the highest credit rating qualify for the prime rate.



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It is also important for consumers to understand that prime rates can and do vary from bank to bank.
said Friday they will raise their short-term prime rates by 0.
said Friday they will raise their short-term prime rates by 0.
 
 
 
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