Jul 31, 2019 3:15 PM EDT
You might be charged is named the “prime price. Whenever you have a loan or bank card at a commercial bank like Bank of America (BAC) – Get Report or Citibank (C) – Get Report, the cheapest interest rate” even though rate that is prime be one thing you vaguely remember from the past economics program, it may impact your wallet today in extremely genuine methods.
Even though you probably be aware of this federal funds price, which will be the price of which the Federal Reserve lends funds to commercial banking institutions, the prime price may really very well be considered the creme de la creme of rates of interest for non-bank customers. 继续阅读“What’s the Prime Speed? Definition, History and Rate in 2019”