prime lending rate (plr)

[Mounika]

It ia term used in many countries to references an interest rate used by banks the term orginally indicated the interest rate at which banks lent to favored customers

I.e those  with good credit

[Arunkumar.B]

The interest rate charged by banks to their largest, most secure, and most creditworthy customers on short-term loans. This rate is used as a guide for computing interest rates for other borrowers. See also London Inter bank Offered Rate. Also called prime rate.

Sentence form:

The prime lending rate was something I didn’t want to get involved in because I knew nothing about it and could not handle it.

[Deepika Nautiyal]

Prime rate or prime lending rate is a term applied in many countries to reference an interest rate used by banks.

[Nivedha Kannan]

Prime lending rate refers to the interest rate charged by the banks. It indicates the interest rate charged by the banks to their favored customers.

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