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prime rate

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Q: What is the best or lowest interest rate commercial banks charge their customers?
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What is the lowest interest rate charged by banks to preferred customers?

Prime rate


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The Guardian website offers information on low commercial interest rates. It states that the lowest rate is with the Chelsea Building Society at 1.64%.


What is the prime interest rate?

The "Prime Interest Rate" is the interest rate used by banks to base all their loan interest rates (and sometimes other interest rates) on and is usually lower than the lowest rate charged on loans to customers with the best credit ratings.


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Typically, home loans have the lowest interest rate. Credit cards and Pay Day loans usually have the highest interest rates.


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