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What is the definition of Prime Lending Rate?

Deborah Edwards

in Student Loans

1 answer

1 answer

Ralph Lopez on January 14, 2019

Prime rate or the First type of Loan is a term applied in countries to reference an interest rate used by banks. In the past, the term indicated the rate of interest at which the banks lent to favored agents (people with good credit), however, this is not always the case. Many of the types of interest is expressed as a percentage above or below the First type of Loan.

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