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Prime for life

On September 23, 2008 By

Prime for life is a line of credit whose interest rate is the prime rate with no margin. Since the prime rate is a variable value, a prime for life loan is a variable-rate instrument. Only the most creditworthy borrowers normally qualify for a prime for life debt.

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Prime rate

On September 23, 2008 By

The interest rate that a bank charges its most reliable customers who are the least likely to default on their loan.

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