What is the Prime Rate?

The best interest rate is the basic loan interest rate that banks lend to the most important or creditworthy customers. For ordinary customers, a premium is usually added to this. In general, the best interest rate is higher than the interbank rate. In the United States, the prime rate is about 3% higher than the federal funds rate (meaning equal to the interbank rate). The most common in the United States is the Wall Street Journal's best annual rate published by the Wall Street Journal.

Best rate

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The best interest rate is the basic loan interest rate that banks lend to the most important or creditworthy customers. For ordinary customers, a premium is usually added to this. In general, the best interest rate is higher than the interbank rate. In the United States, the prime rate is about 3% higher than the federal funds rate (meaning equal to the interbank rate). The most common in the United States is the Wall Street Journal's best annual rate published by the Wall Street Journal.