look up any word, like smh:
 
1.
(ECONOMICS) the lowest interest rate available to non-financial borrowers.

Banks can borrow money from the Federal Reserve System or each other at the lower federal funds rate--and they borrow money from depositors at lower rates still.
The most widely-quoted estimate of the prime rate is that published by the Wall Street Journal (from a survey of the 30 largest banks).
by Abu Yahya September 06, 2010