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Current Prime Lending Rate
Current Prime Lending rate is the same as prime rate given by the banks. It is the bare minimum amount of interest taken up by the lender for investing their money in a non secured loan. The prime lending rate is the basic earning a bank gets for participating in a loan that might get run off with the money they invested. It is also known as benchmark interest rate. It is the minimum charge accrued by banks or financial institutions from its best and credit worthy customers. This is applicable for short term loans which are not secure and is taken up by large corporations.
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