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Multiple Choice Questions

The interest rate charged by banks on short term loans to their largest most secure and most creditw...........

General Studies (CGL) Indian Economy

The interest rate charged by banks on short-term loans to their largest, most secure and most creditworthy customers is called ______.

This questions was previously asked in

SSC CGL 11 June 2019 Shift-3

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Prime Lending Rate

Variable Rate

Amortised Rate

Discount Rate

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Explanation:

- Prime Lending Rate (Option 1): This is the interest rate that banks offer to their most creditworthy customers. It serves as a benchmark for other loans.

- Variable Rate (Option 2): This rate can fluctuate over time, often influenced by a benchmark rate or index, affecting how much interest a borrower pays.

- Amortised Rate (Option 3): Involves repaying a loan in regular installments, which cover both principal and interest, reducing debt over time.

- Discount Rate (Option 4): Generally refers to the rate charged by central banks to commercial banks for short-term loans.

Prime Lending Rate is the correct choice.

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