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Meaning of “standard rate” in the English Dictionary

"standard rate" in Business English

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standard ratenoun [C]

uk   us   UK
(also standard rate of interest) BANKING, FINANCE the ​normalpercentageamount that a ​bankchargescustomers for ​borrowingmoney: charge/pay a standard rate Our ​discountedrateended this ​year and we have been ​paying the bank's ​standardrate of 6.1% ever since.
(also standard rate of income tax) TAX the ​normalrate of ​incometaxpaid by most ​people who do not have an especially high or ​lowincome: These ​figuresapply to ​people who ​payincometax at the ​standardrate.
TAX the ​normalrate of value-addedtax: The ​standardrate of ​VAT is ​due to ​rise to 20%.
COMMUNICATIONS the usual ​rate that a ​phonecompanychargescustomers for ​calling a ​normalphonenumber: On a ​weekday, ​callscost 6p a ​minute, ​standardrate.
adjective [before noun]
The ​netcost is £5,300 if you are a standard-rate ​taxpayer.
(Definition of standard rate from the Cambridge Business English Dictionary © Cambridge University Press)
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