Topics

Skip to main content
×

Welcome to Third Federal Online Banking.

Log In(Opens in a new window)
COVID-19: We're here to help you.
Click here to learn more.

Topics

What is Prime Rate?

The Prime Rate is the interest rate charged by banks to their most creditworthy customers. The Prime Rate has traditionally been priced at 3% above the Fed Funds Rate, which is set by the Federal Reserve. For example, if the Fed Funds Rate target is at 1.75% then Prime Rate will be 4.75%. Third Federal does not set the Prime Rate.

Related Items

Mortgage purchase promotion