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How does prime factor into lending?

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Anonymous

10y ago
Updated: 10/17/2024

Prime rate or prime lending rate is a term applied in many countries to reference an interest rate used by banks. The term originally indicated the rate of interest at which banks lent to favored customers, i.e., those with good credit, though this is no longer always the case. Some variable interest rates may be expressed as a percentage above or below prime rate.

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Wiki User

10y ago

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