Meaning of “standard rate” in the English Dictionary

"standard rate" in Business English

See all translations

standard ratenoun [ C ]

uk us UK

also standard rate of interest BANKING, FINANCE the normal percentage amount that a bank charges customers for borrowing money:

charge/pay a standard rate Our discounted rate ended this year and we have been paying the bank's standard rate of 6.1% ever since.

also standard rate of income tax TAX the 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.

TAX the normal rate of value-added tax:

The standard rate of VAT is due to rise to 20%.

COMMUNICATIONS the usual rate that a phone company charges customers for calling a normal phone number:

adjective [ before noun ]

The net cost is £5,300 if you are a standard-rate taxpayer.

(Definition of “standard rate” from the Cambridge Business English Dictionary © Cambridge University Press)