cut rate

noun
a price, fare, or rate below the standard charge.

Origin:
1880–85, Americanism

cut-rate, adjective
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To cut rate
Example sentences
Hospitals and insurance carriers have reopened their contracts and cut rate increases, in some cases by more than half.
To further entice customers, they offer their product at cut rate prices.
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