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Longman Dictionary of Contemporary English
prime rate
noun
EXAMPLES FROM CORPUS
▪ At the time of writing, the prime rate is 8 percent and the rate of inflation is under 4 percent.
▪ That includes containing increases in corporate lending rates like the long-term prime rate.
▪ The interest rate may be fixed, or it may float with the prime rate.
▪ The long-term prime rate had been at a record low 2. 6 percent since early December.
▪ Today, the prime rate is 2. 83 percentage points higher than the yield on a 10-year government note.
Wikipedia
Prime rate

Prime rate or prime lending rate is a term applied in many countries to reference an interest rate used by banks. The term originally indicated the interest rate at which banks lent to favored customers—i.e., those with good credit—but this is no longer always the case. Some variable interest rates may be expressed as a percentage above or below prime rate.

Usage examples of "prime rate".

Some of the words I defined for my readers were: common stock, preferred stock, bonds, municipal bonds, debentures, margin, selling short, puts and calls, living trust, joint tenancy, tenants in common, float, load, points, deficiency judgement, call money, prime rate, gold standard, flat money, easement, fee simple, eminent domain, public domain, copyright, patent, etc.

But every act of Congress, every Supreme Court decision, every Presidential National Security Directive, every change in the Prime Rate is an experiment.

You have written them commercial loans tied to the prime rate at no more than their say so.

The banker babbled on, fearful that the Fed would raise the prime rate again.