Prime Rate. The current Prime Rate and Prime Rate history with date and amount of interest rate changes. A definition of the Prime Interest Rate and what impacts the Prime Rate today. Find complete information on Bank Prime Rates and the Prime Lending Rate.
 

Wells Fargo Prime Rate

The Wells Fargo Prime Rate is currently at 3.25 percent.

Wells Fargo Bank last changed its prime rate when the bank lowered its prime rate to 3.25 in December 2008.

The Prime Rate is the interest rate that a number banks use, including Wells Fargo, as a basis to set the interest rates for different types of bank loans and lines of credit, with the notable exception of mortgage rates. Each bank sets its own Prime Rate.

Wells Fargo & Company is a diversified, financial services company with over a $1.0 trillion in assets. Wells Fargo Bank is headquartered in San Francisco, California. The bank operates more than 10,000 banking stores and 12,000 ATMs. Wells Fargo Bank is the fourth largest U.S. bank ranked by total assets. Wells Fargo provides consumer and commercial banking products and services as well as insurance, investments, mortgage and consumer finance.

The prime rate changes announcement by the bank affects only Wells Fargo Bank headquartered in San Francisco, and not other Wells Fargo & Co. subsidiaries

To find Wells Fargo Bank branch locations please see Wells Fargo Locations. To find more information on Wells Fargo CD rates refer to Wells Fargo Bank CD Rates. To find more information on Wells Fargo Mortgage rates see Wells Fargo Mortgage Rates. To find a Wells Fargo Bank routing number go to Wells Fargo Bank Routing Numbers. For information on Wells Fargo credit cards refer to Wells Fargo Credit Cards. To find current news on bank promotions, banks deals or checking account promotions go to Bank Deals or Checking Account Promotions.

Citibank Prime Rate

The current Citibank Prime Rate is 3.25 percent.

The Prime Rate is almost always the same amongst major banks including the Chase Bank Prime Rate, Bank of America Prime Rate, Wells Fargo Bank Prime Rate and US Bank Prime Rate, SunTrust Bank Prime Rate and PNC Bank Prime Rate.

The Prime Rate is the interest rate banks charge their most creditworthy commercial customers and is often used as a base to set rates for credit cards, home-equity loans and other loans, including loans to small and medium-size businesses.

The prime rate is set by Citibank based on various factors, including the bank’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans.

To find Citibank branch locations please see Citibank Locations. To find more information on Citibank CD rates see Citibank CD Rates.

Bank of America Prime Rate

The Bank of America Prime Rate is currently at 3.25 percent.

Bank of America Prime Rate history since the start of 2008:

Current Bank of America Prime Rate is 3.25% which was last changed on December 16, 2008 when the rate was reduced by 0.75%.
On October 29, 2008 Bank of America Prime Rate was 4.00% after a reduction of 0.50%.
October 8, 2008 Bank of America Prime Rate was 4.50% following a 0.50% rate drop.
April 30, 2008 Bank of America Prime Rate was cut by .25% to bring the rate down to 5.00%.
March 18, 2008 Bank of America Prime Rate was 5.25% after the slashed the rate by 0.75%.
January 30, 2008 Bank of America Prime Rate was reduced to 6.00% from 6.50%.
The Bank of America Prime Rate was first changed in 2008 on January 22, 2008 when the rate was cut to 6.50% from 7.25%.

Bank of America’s Prime Rate is set by the bank. The Prime Rate from Bank of America is often changed at the same time that other large U.S. banks change their Prime Rates. The bank’s prime rate is the reference point for pricing some loans.

Bank of America may price consumer and business loans to its customers at, above, or below the Prime Rate.

Bank of America operates over 5,500 retail bank branch locations and approximately 18,000 ATMs. Bank of America is one of the largest financial institutions in the U.S. Bank of America offers bank products and services for individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

To find Bank of America branch locations please see Bank of America Locations. To find more information on Bank of America CD rates see Bank of America CD Rates. To find more information on Bank of America mortgage rates see Bank America Mortgage Rates.

Chase Bank Prime Rate

The Prime Rate for Chase Bank is currently at 3.25 percent.

The Prime Rate is the interest rate that a number of banks, including Chase Bank, use as a foundation to establish the interest rate for different consumer loans and business loans and lines of credit.

A historical look at the Chase Bank Prime Rate includes the following rates since the start of 2008:

Current Chase Prime Bank Rate is 3.25% which was last changed on December 16, 2008.
October 29, 2008 Chase Bank Prime Rate was decreased by .50% to 4.00%
October 8, 2008 Chase Bank Prime Rate reduced 0.50% to 4.50%
April 30, 2008 Chase Bank Prime Rate was cut by .25% to 5.00%
March 18, 2008 Chase Bank Prime Rate cut by 0.75% to 5.25%
January 30, 2008 Chase Bank Prime Rate decreased to 6.00%
To start 2008, the Chase Bank Prime Rate was cut by 0.75% on January 22, 2008 resulting in a rate of 6.50%.

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. Chase provides bank and financial products and services to corporations, institutional investors, hedge funds, governments and individuals in more than 100 countries worldwide. Chase Bank operates more than 5,100 branches and 15,000 ATMs nationally under the Chase brand in the U.S.

To find Chase Bank branch locations please see Chase Bank Locations. To find more information on Chase Bank CD rates see Chase CD Rates. To find more information on Chase Mortgage rates see Chase Bank Mortgage Rates.

Prime Rate History

Prime rate history from 1955 to the present.

The U.S. prime rate is currently at 3.25%. 

The last change to the prime rate was in December of 2008.  Each bank determines their own prime lending rate and though the prime rate may be different between large US banks it is most frequently the same rate and changes to the prime rate are generally made by banks at the same time.  The prime rate does not change at regular intervals, it may change frequently as was the case as recently as 2001 or it may not change for over a year as is the present situation.
 
Prime rate history changes and rates:

2008-12-16   3.25%
2008-10-29   4.00%
2008-10-08   4.50%
2008-04-30   5.00%
2008-03-18   5.25%
2008-01-30   6.00%
2008-01-22   6.50%
2007-12-11   7.25%
2007-10-31   7.50%
2007-09-18   7.75%
2006-06-29   8.25%
2006-05-10   8.00%
2006-03-28   7.75%
2006-01-31   7.50%
2005-12-13   7.25%
2005-11-01   7.00%
2005-09-20   6.75%
2005-08-09   6.50%
2005-06-30   6.25%
2005-05-03   6.00%
2005-03-22   5.75%
2005-02-02   5.50%
2004-12-15   5.25%
2004-11-10   5.00%
2004-09-21   4.75%
2004-08-11   4.50%
2004-07-01   4.25%
2003-06-27   4.00%
2002-11-07   4.25%
2001-12-12   4.75%
2001-11-07   5.00%
2001-10-03   5.50%
2001-09-18   6.00%
2001-08-22   6.50%
2001-06-28   6.75%
2001-05-16   7.00%
2001-04-19   7.50%
2001-03-21   8.00%
2001-02-01   8.50%
2001-01-04   9.00%
2000-05-17   9.50%
2000-03-22   9.00%
2000-02-03   8.75%
1999-11-17   8.50%
1999-08-25   8.25%
1999-07-01   8.00%
1998-11-18   7.75%
1998-10-16   8.00%
1998-09-30   8.25%
1997-03-26   8.50%
1996-02-01   8.25%
1995-12-20   8.50%
1995-07-07   8.75%
1995-02-01   9.00%
1994-11-15   8.50%
1994-08-16   7.75%
1994-05-17   7.25%
1994-04-19   6.75%
1994-03-24   6.25%
1992-07-02   6.00%
1991-12-23   6.50%
1991-11-06   7.50%
1991-09-13   8.00%
1991-05-01   8.50%
1991-02-04   9.00%
1991-01-02   9.50%
1990-01-08  10.00%
1989-07-31  10.50%
1989-06-05  11.00%
1989-02-24  11.50%
1989-02-10  11.00%
1988-11-28  10.50%
1988-08-11  10.00%
1988-07-14   9.50%
1988-05-11   9.00%
1988-02-02   8.50%
1987-11-05   8.75%
1987-10-22   9.00%
1987-10-07   9.25%
1987-09-04   8.75%
1987-05-15   8.25%
1987-05-01   8.00%
1987-04-01   7.75%
1986-08-26   7.50%
1986-07-11   8.00%
1986-04-21   8.50%
1986-03-07   9.00%
1985-06-18   9.50%
1985-05-20  10.00%
1985-01-15  10.50%
1984-12-19  10.75%
1984-11-28  11.25%
1984-11-08  11.75%
1984-10-29  12.00%
1984-10-16  12.50%
1984-09-27  12.75%
1984-06-25  13.00%
1984-05-08  12.50%
1984-04-05  12.00%
1984-03-19  11.50%
1983-08-08  11.00%
1983-02-25  10.50%
1983-01-11  11.00%
1982-11-22  11.50%
1982-10-13  12.00%
1982-10-07  13.00%
1982-08-23  13.50%
1982-08-18  14.00%
1982-08-16  14.50%
1982-08-02  15.00%
1982-07-29  15.50%
1982-07-20  16.00%
1982-02-23  16.50%
1982-02-17  17.00%
1982-02-02  16.50%
1981-12-01  15.75%
1981-11-24  16.00%
1981-11-16  16.50%
1981-11-09  17.00%
1981-11-02  17.50%
1981-10-13  18.00%
1981-10-05  19.00%
1981-09-22  19.50%
1981-09-16  20.00%
1981-07-08  20.50%
1981-06-01  20.00%
1981-05-22  20.50%
1981-05-18  20.00%
1981-05-11  19.50%
1981-05-04  19.00%
1981-04-29  18.00%
1981-04-20  17.50%
1981-04-01  17.00%
1981-03-27  17.50%
1981-03-24  17.00%
1981-03-17  17.50%
1981-03-10  18.00%
1981-03-03  18.50%
1981-02-23  19.00%
1981-02-03  19.50%
1981-01-09  20.00%
1981-01-02  20.50%
1980-12-19  21.50%
1980-12-16  21.00%
1980-12-10  20.00%
1980-12-05  19.00%
1980-12-02  18.50%
1980-11-26  17.75%
1980-11-21  17.00%
1980-11-17  16.25%
1980-11-06  15.50%
1980-10-29  14.50%
1980-10-17  14.00%
1980-10-01  13.50%
1980-09-26  13.00%
1980-09-19  12.50%
1980-09-12  12.25%
1980-09-08  12.00%
1980-08-27  11.50%
1980-08-22  11.25%
1980-07-23  11.00%
1980-07-07  11.50%
1980-06-17  12.00%
1980-06-13  12.50%
1980-06-06  13.00%
1980-05-28  14.00%
1980-05-23  14.50%
1980-05-16  16.50%
1980-05-07  17.50%
1980-05-01  18.50%
1980-04-18  19.50%
1980-04-02  20.00%
1980-03-28  19.50%
1980-03-19  19.00%
1980-03-14  18.50%
1980-03-07  17.75%
1980-03-04  17.25%
1980-02-29  16.75%
1980-02-22  16.50%
1980-02-19  15.75%
1979-12-07  15.25%
1979-11-30  15.50%
1979-11-16  15.75%
1979-11-09  15.50%
1979-11-01  15.25%
1979-10-24  15.00%
1979-10-09  14.50%
1979-09-28  13.50%
1979-09-20  13.25%
1979-09-14  13.00%
1979-09-07  12.75%
1979-08-28  12.25%
1979-08-16  12.00%
1979-07-27  11.75%
1979-06-19  11.50%
1978-12-26  11.75%
1978-11-24  11.50%
1978-11-17  11.00%
1978-11-06  10.75%
1978-11-01  10.50%
1978-10-27  10.25%
1978-10-13  10.00%
1978-09-28   9.75%
1978-09-15   9.50%
1978-09-01   9.25%
1978-06-30   9.00%
1978-06-16   8.75%
1978-05-26   8.50%
1978-05-05   8.25%
1978-01-10   8.00%
1977-10-24   7.75%
1977-10-07   7.50%
1977-09-16   7.25%
1977-08-22   7.00%
1977-05-27   6.75%
1977-05-13   6.50%
1976-12-10   6.25%
1976-10-29   6.50%
1976-10-01   6.75%
1976-08-02   7.00%
1976-06-04   7.25%
1976-06-01   7.00%
1976-01-21   6.75%
1976-01-12   7.00%
1975-12-01   7.25%
1975-11-04   7.50%
1975-10-27   7.75%
1975-09-15   8.00%
1975-08-11   7.75%
1975-07-25   7.50%
1975-07-18   7.25%
1975-06-09   7.00%
1975-05-20   7.25%
1975-03-25   7.50%
1975-03-19   7.75%
1975-03-10   8.00%
1975-03-03   8.25%
1975-02-24   8.50%
1975-02-18   8.75%
1975-02-03   9.00%
1975-01-28   9.50%
1975-01-13  10.00%
1974-11-25  10.25%
1974-11-13  10.75%
1974-11-06  11.00%
1974-10-22  11.25%
1974-10-08  11.75%
1974-07-08  12.00%
1974-06-27  11.75%
1974-05-17  11.50%
1974-05-10  11.25%
1974-05-07  11.00%
1974-05-02  10.75%
1974-04-25  10.50%
1974-04-22  10.25%
1974-04-11  10.00%
1974-04-08   9.75%
1974-04-04   9.50%
1974-04-01   9.25%
1974-03-22   9.00%
1974-02-25   8.75%
1974-02-19   9.00%
1974-02-11   9.25%
1974-01-29   9.50%
1973-12-03   9.75%
1973-10-29   9.50%
1973-10-23   9.75%
1973-09-18  10.00%
1973-08-28   9.75%
1973-08-21   9.50%
1973-08-13   9.25%
1973-08-06   9.00%
1973-07-30   8.75%
1973-07-18   8.50%
1973-07-09   8.25%
1973-07-02   8.00%
1973-06-22   7.75%
1973-06-07   7.50%
1973-05-25   7.25%
1973-05-07   7.00%
1973-04-19   6.75%
1973-03-26   6.50%
1973-02-27   6.25%
1972-12-27   6.00%
1972-10-03   5.75%
1972-08-29   5.50%
1972-06-27   5.25%
1972-03-31   5.00%
1972-03-20   4.75%
1972-02-16   4.50%
1972-01-18   4.75%
1972-01-03   5.00%
1971-12-17   5.25%
1971-11-08   5.50%
1971-10-20   5.75%
1971-07-07   6.00%
1971-04-23   5.50%
1971-03-19   5.25%
1971-03-11   5.50%
1971-02-16   5.75%
1971-01-18   6.00%
1971-01-15   6.25%
1971-01-06   6.50%
1970-12-22   6.75%
1970-11-23   7.00%
1970-11-12   7.25%
1970-09-21   7.50%
1970-03-25   8.00%
1969-06-09   8.50%
1969-03-17   7.50%
1969-01-07   7.00%
1968-12-18   6.75%
1968-12-02   6.50%
1968-09-25   6.25%
1968-04-19   6.50%
1967-11-20   6.00%
1967-03-27   5.50%
1967-01-26   5.75%
1966-08-16   6.00%
1966-06-29   5.75%
1966-03-10   5.50%
1965-12-06   5.00%
1960-08-23   4.50%
1959-09-01   5.00%
1959-05-18   4.50%
1958-09-11   4.00%
1958-04-21   3.50%
1958-01-22   4.00%
1957-08-06   4.50%
1956-08-21   4.00%
1956-04-13   3.75%
1955-10-14   3.50%
1955-08-04   3.25%

Current Prime Rate

The current prime rate as posted by the Wall Street Journal is at 3.25%.

This is the current prime rate today.  The current prime prime rate is effective as of  December 16, 2008.  The last reported rate change by for the prime rate as reported by the Wall Street Journal was on December 16, 2008 when the prime rate was reduced by 75 basis points or 75/100 of a percent. 

The Wall Street Journal prime rate is one of the most widely followed prime rate indices as well as the most widely quoted.  The prime rate itself is among the most widely used benchmark interest rates.  The prime rate is an index used for pricing other various short-term loan products offered by banks and other financial institutions.  The prime rate is often used for establishing the rates on home loans, credit cards and business loans.

The Wall Street Journal prime Rate is established by surveying the 10 largest U.S. banks.  The U.S. prime rate that is calculated by the Wall Street Journal is the average rate posted by at least 70% of the 10 largest U.S. banks.  The Wall Street Journal Prime Rate will change when 70% or more of the top 10 banks change their rate. 

The prime rate is the interest rate charged by banks to their most creditworthy customers.  Each bank is free to set their own prime rate though most U.S banks will have the same rate and adjust their prime rate at similar times.  Bank prime rate changes are fairly consistent because banks are reacting to the same market changes to interest rates and loan demand and want to offer loan products that are competitive in the market and competitive with their peers.  The prime rate does not change at regular intervals and banks are free to change their prime rate at anytime regardless of market conditions.

Bank prime rates are usually adjusted when short term rates move significantly for an extended period of time which will often coincide with movement in the Fed Funds Rate.  When the Federal Reserve announces a change in the Fed Funds target rate there will generally be an adjustment by most major banks in their prime rate shortly thereafter.