›(alsostandard rate of interest)BANKING, FINANCEthe normal percentage amount that a bank charges customers for borrowing money: charge/pay a standard rateOur discounted rate ended this year and we have been paying the bank's standard rate of 6.1% ever since.
›(alsostandard rate of income tax)TAXthe normal rate of income tax paid by most people who do not have an especially high or low income: These figures apply to people who pay income tax at the standard rate.
›TAXthe normal rate of value-added tax: The standard rate of VAT is due to rise to 20%.
›COMMUNICATIONSthe usual rate that a phone company charges customers for calling a normal phone number: On a weekday, calls cost 6p a minute, standard rate. → Comparepremium rate
standard-rateadjective[before noun]›The net cost is £5,300 if you are a standard-rate taxpayer.