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Tagged: barrowers, creditworthiness, secure, shorttermloans
Meaning – prime lending rate is the intrest rate charged by the bank to the largest and most secure and credit worthy customers as a short term loan, this rate is used as a guidline for computing intrest rate for other borrowers
The prime rate is the interest rate that commercial banks charge their most credit-worthy customers.
Generally a bank’s best customers consist of large corporations.
It is know as ” intrest rate” which a bank makes on customer
Prime lending rate is the term indicated the interest rate at which banks lent to favoured customers but this is no longer always the case.
Prime lending rate is a term applied in many countries to reference an interest rate used by bank.originally indicate the interest rate at which bank lent to favored customers.
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