Prevailing Rate means the rate of interest we apply after the Chosen Product ends or you breach the Terms and Conditions for the Chosen Product. For example, the prevailing rate can be the Variable Rate Call rate; Sample 1. Sample 2.

What is current prevailing rate?

Benge. The prevailing interest rate is the average current interest rate in the economy, sometimes called the current market rate. Different types of loans often have various prevailing rates.

What does prevailing mean in real estate?

Prevailing Market Rate means the current market rental rate for the Premises as determined by Landlord but shall not be more than the rate at which Landlord would offer such space or space of approximately the same size and location to a third party.