What is the prime lending rate in Canada?

Answer The prime rate is the best rate that banks give to their customers. It varies from bank to bank and changes over time, but right now, the prime rate is between 2.25 and 3.5 percent, depending on th... Read More »

Top Q&A For: What is the prime lending rate in Canada

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 »

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 »

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 today's prime lending rate?

As of May 12, 2010, the prime rate is 3.25 percent. The prime rate is the short-term interest rate that banks charge one another. It is a basis for other consumer loans and an indicator of the stre... Read More »