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Current Prime Rate

Prime Rate Update

3.25% - Effective as of: March 16, 2020

What is Prime Rate?

The Prime Rate is the interest rate that banks use as a basis to set rates for different types of loans and lines of credit, with the exception of mortgage rates. Each bank sets its own Prime Rate, although for consumer products most banks will use the U.S. Prime Rate published in The Wall Street Journal in its column called "Money Rates," and this is the rate shown above. The U.S. Prime Rate is not always the lowest, the best or the favored rate of interest. Banks use different methods to determine what Prime Rate is applicable for each product and when adjustments will be made. Please see your Commerce Banker for more information.

Historical Prime Rates:

Prime Rate History 2020

3.25% - Effective as of: 03/17/2020
4.25% - Effective as of: 03/04/2020

Prime Rate History 2019

4.75% - Effective as of: 10/31/2019
5.00% - Effective as of: 09/19/2019
5.25% - Effective as of: 08/01/2019

Prime Rate History 2018

5.50% - Effective as of: 12/20/2018
5.25% - Effective as of: 09/27/2018
5.00% - Effective as of: 06/14/2018
4.75% - Effective as of: 03/22/2018

Prime Rate History 2017

4.50% - Effective as of: 12/14/2017
4.25% - Effective as of: 06/15/2017
4.00% - Effective as of: 03/16/2017

Prime Rate History 2016

3.75% - Effective as of: 12/15/2016

Prime Rate History 2015

3.50% - Effective as of: 12/17/2015

Prime Rate History 2008

3.25% - Effective as of: 12/18/2008
4.00% - Effective as of: 10/31/2008
4.50% - Effective as of: 10/09/2008
5.00% - Effective as of: 04/30/2008
5.25% - Effective as of: 03/19/2008
6.00% - Effective as of: 01/31/2008
6.50% - Effective as of: 01/23/2008

Prime Rate History 2007

7.25% - Effective as of: 12/12/2007
7.50% - Effective as of: 11/01/2007
7.75% - Effective as of: 09/19/2007

Prime Rate History 2006

8.25% - Effective as of: 06/30/2006
8.00% - Effective as of: 06/01/2006
7.75% - Effective as of: 03/29/2006
7.50% - Effective as of: 02/01/2006