lending rate
nounUK /ˈlɛndɪŋ reɪt/
US /ˈlɛndɪŋ reɪt/
The lending rate is the price a bank charges when it lets someone borrow money.
The bank lowered its lending rate, so it became cheaper to borrow money for a house.
OTHER MEANINGS
2. The rate of interest that a central bank charges other banks when they borrow money from it.
The central bank cut its lending rate to help the economy grow.
3. The percentage a lender earns from money it lends out.
The lender's profit depends on the lending rate it sets for its customers.
4. The official rate used to compare the cost of different loans.
Compare the lending rate of each bank before you choose a loan.