Bank Rate

Definitions (2)

1. The interest rate charged by a bank for loans.
2. The discounted interest rate at which a central bank makes loans to a national bank. See Federal Reserve.

Use Bank Rate in a sentence

You should always shop around to make sure that you are getting the best bank rate that you can get.

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The Bank Rate for a business loan was at 9% and Charlie was concerned that taking out a loan with such a high rate could jeopardize his future profits.

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When the bank rate increased, the small credit union had to decrease the interest rate it was paying to it's customers on their deposits as their costs rose.

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