> For the complete documentation index, see [llms.txt](https://docs.notional.finance/notional-v3/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.notional.finance/notional-v3/prime-money-market/borrow-fees.md). # Borrow Fees Notional governance sets the following parameters to determine the amount of fees that borrowers pay to the protocol. * Fee rate percent * Max fee rate * Min fee rate Borrower fees are a percentage of the borrow rate calculated by the interest rate curve. This percentage is the fee rate percent. The fee is added on top of the borrow rate pulled from the interest rate curve. For example, if the pre-fee borrow rate is 3% and the fee rate percent is 20%, then the borrow fee will be 0.6% (3% \* 20%). The post-fee borrow rate will then be 3.6% (3% + 0.6%). **Min and max fee rate** The min fee rate and max fee rate set bounds on how big or small the borrow fee can be. For example, with a max fee rate of 1% the borrow fee could never be more than 1% even if the pre-fee borrow rate was 20% and the fee rate percent was 20%. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.notional.finance/notional-v3/prime-money-market/borrow-fees.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.