standard rate
noun [ C ]
UK ukus BANKING, FINANCE (also standard rate of interest)
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.
TAX (also standard rate of income 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:
On a weekday, calls cost 6p a minute, standard rate.
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premium rate
standard-rate
adjective [ before noun ]
The net cost is £5,300 if you are a standard-rate taxpayer.