What is a bank lending rate?

Answer A bank lending rate is the interest rate consumers will pay for various loan products such as mortgages, auto loans, credit cards, home equity loans and lines of credit. There are several of factor... Read More »

Top Q&A For: What is a bank lending rate

What is the Bank of Canada's prime lending rate?

The Royal Bank of Canada, or RBC, sets the prime lending rate for the nation. The last time the rate changed was in April of 2009. It is currently 2.25%, though the interest rates are subject to ch... Read More »

Is prime rate the commercial lending rate?

The prime rate is now an index, or benchmark, that is set by banks. The banks use it to derive pricing for a number of different loans. Although loans at this rate can be extended to "prime" commer... Read More »

What is a mortgage lending rate?

A mortgage lending rate is the interest rate charged on the amount of money borrowed for a mortgage. The rate is influenced by a number of economic factors as well as the financial history of the b... Read More »

What is prime lending rate?

When a business borrows money from a bank, that business' stability and credit history determines its interest rate. Creditworthy businesses not only borrow money at low interest rates, they play a... Read More »