The current Bank of America, N.A. prime rate is 7.75% (rate effective as of November 8, 2024). The prime rate is set by Bank of America 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. Bank of America may price loans to its customers at, above, or below the prime rate.
Bank of America, N.A. was created through the merger of NationsBank N.A. and Bank of America NT&SA on July 23, 1999. A history of the prime rate for Bank of America, N.A. shows each prime rate change since that date.
Following is a history of changes in the prime rate for Bank of America, N.A. (Note: In some Bank of America loan documentation, the term “reference rate” has been used to refer to this lending rate. The terms “prime rate” and “reference rate” refer to the same rate.)
Updated November 8, 2024
| Date | Rate |
|---|---|
| November 8, 2024 | 7.75% |
| September 19, 2024 | 8.0% |
| Date | Rate |
|---|---|
| July 27, 2023 | 8.50% |
| May 4, 2023 | 8.25% |
| March 23, 2023 | 8.00% |
| February 2, 2023 | 7.75% |
| Date | Rate |
|---|---|
| December 15, 2022 | 7.50% |
| November 3, 2022 | 7.00% |
| September 22, 2022 | 6.25% |
| July 28, 2022 | 5.50% |
| June 16, 2022 | 4.75% |
| May 5, 2022 | 4.00% |
| March 17, 2022 | 3.50% |
No changes to prime rate in 2021
| Date | Rate |
|---|---|
| March 16, 2020 | 3.25% |
| March 4, 2020 | 4.25% |
| Date | Rate |
|---|---|
| October 31, 2019 | 4.75% |
| September 19, 2019 | 5.00% |
| August 1, 2019 | 5.25% |
| Date | Rate |
|---|---|
| December 20, 2018 | 5.50% |
| September 27, 2018 | 5.25% |
| June 14, 2018 | 5.00% |
| March 22, 2108 | 4.75% |
| Date | Rate |
|---|---|
| December 14, 2017 | 4.50% |
| June 15, 2017 | 4.25% |
| March 16, 2017 | 4.00% |
| Date | Rate |
|---|---|
| December 15, 2016 | 3.75% |
| Date | Rate |
|---|---|
| December 16, 2015 | 3.50% |
| Date | Rate |
|---|---|
| December 16, 2008 | 3.25% |
| October 29, 2008 | 4.00% |
| October 8, 2008 | 4.50% |
| April 30, 2008 | 5.00% |
| March 18, 2008 | 5.25% |
| January 30, 2008 | 6.00% |
| January 22, 2008 | 6.50% |
| Date | Rate |
|---|---|
| December 11, 2007 | 7.25% |
| October 31, 2007 | 7.50% |
| October 31, 2007 | 7.50% |
| September 18, 2007 | 7.75% |
| Date | Rate |
|---|---|
| June 29, 2006 | 8.25% |
| May 10, 2006 | 8.00% |
| March 28, 2006 | 7.75% |
| January 31, 2006 | 7.50% |
| Date | Rate |
|---|---|
| December 13, 2005 | 7.25% |
| November 1, 2005 | 7.00% |
| September 20, 2005 | 6.75% |
| August 9, 2005 | 6.50% |
| June 30, 2005 | 6.25% |
| May 3, 2005 | 6.00% |
| March 22, 2005 | 5.75% |
| February 2, 2005 | 5.50% |
| Date | Rate |
|---|---|
| December 14, 2004 | 5.25% |
| November 10, 2004 | 5.00% |
| September 22, 2004 | 4.75% |
| August 11, 2004 | 4.50% |
| July 1, 2004 | 4.25% |
| Date | Rate |
|---|---|
| June 27, 2003 | 4.00% |
| Date | Rate |
|---|---|
| November 7, 2002 | 4.25% |
| Date | Rate |
|---|---|
| December 13, 2001 | 4.75% |
| November 7, 2001 | 5.00% |
| October 3, 2001 | 5.50% |
| September 18, 2001 | 6.00% |
| August 22, 2001 | 6.50% |
| June 28, 2001 | 6.75% |
| May 16, 2001 | 7.00% |
| April 19, 2001 | 7.50% |
| March 21, 2001 | 8.00% |
| February 1, 2001 | 8.50% |
| January 3, 2001 | 9.00% |
| Date | Rate |
|---|---|
| May 16, 2000 | 9.50% |
| March 21, 2000 | 9.00% |
| February 2, 2000 | 8.75% |
| Date | Rate |
|---|---|
| November 16, 1999 | 8.50% |
| August 24, 1999 | 8.25% |
| July 1, 1999 | 8.00% |
.jpg/_jcr_content/renditions/original){kind=logo}
