What is the prime interest rate?

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added blog Economics

2026-08-06 20:09:46 -

What Is the Prime Interest Rate? The prime interest rate, often called the prime rate, is one of the most important benchmark interest rates in the financial system. It serves as a reference point that banks use to determine the interest rates they charge on many types of loans, including personal loans, credit cards, home equity lines of credit (HELOCs), and small business loans. Although...

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