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Prime Rate

What does it mean?

The prime rate is the interest rate at which banks lend to customers or businesses with the highest credit rating or simply the most creditworthy customers.

Points to remember

  • It is used on many short-term loan products which include adjustable mortgage rates, automobile loans, credit cards, and home equity loans.
  • The prime rate index can fluctuate or remain constant for months on end, depending on the economic conditions.
Related Terms
Interest Rate
NACH
Credit Report
Collateral
Credit Line
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Personal Loan EMI Calculator

Skip the manual calculations. Use the Fibe EMI Calculator to accurately determine your repayment amounts, interest charges, and more.

Fibe's personal loan EMI calculator is your reliable tool to determine your loan EMI in just a few minutes and some simple steps. Fibe offers personal loan of up to Rs 5 lakhs with minimal documentation and quick processing. Coupled with interest rates as low as Rs 9/day, this is by far your most compelling credit option in the market. Calculate your monthly repayments based on your sanctioned loan amount and interest rates using this handy EMI calculator that's operate and easy to understand. With Fibe, you can even prepay your loan amount with no additional charges.

Your EMI Amount is

₹  

13,107

Loan Amount

₹145,000

Min

Max

₹8,000

₹10,00,000

Interest rate

14%

12

30

Select EMI option

12 Months

3

36

Months

Months