| 2018-12-19 18:03:41|
STI 18:03 12/19 12/19/18
SunTrust raises prime lending rate to 5.50% from 5.25%
Following the Federal Reserve's announcement to increase the Federal Funds rate, SunTrust Bank announced today it has increased its prime lending rate to 5.50% from 5.25%, effective December 20, 2018. The prime rate is a benchmark used to set interest rates on various forms of consumer and commercial loans. The prime rate last changed on September 27, 2018.