base rate

Definitions (2)
Popular Terms
1. Accounting: Basic charge or wage to which other fees or benefits are added.
2. Banking: Benchmark lending rate for the UK banks. Unlike the discounted rate ('prime rate') quoted by the US banks to their best customers, even the most creditworthy customers of the UK banks must pay a premium over the base rate.

Use 'base rate' in a Sentence

You should try to figure out a fair base rate of pay for your new workers and then raise their pay when they deserve it.
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I got the base rate of interest from the company and needed to figure out how to spend all the money I would be saving that day.
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Since I grew up in the US and did all my banking there, I had never heard of a base rate until I moved and started working in Europe.
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