APR

Annual Percentage Rate

APR is the annual rate charged for borrowing or earned through investment, expressed as a percentage. It includes interest and certain fees, providing a standardized way to compare loans.

APR is required to be disclosed on loans in many countries. It helps borrowers compare the true cost of different loan offers. For credit cards, the APR applies to balances carried beyond the grace period. Loan APRs often include an origination fee.

Related Terms

APY

Annual Percentage Yield

APY is the effective annual rate of return taking into account the effect of compounding interest. I...

AER

Annual Equivalent Rate

AER is the standardized annual interest rate that shows what a return or cost would be over one full...

Interest

Interest is the cost of borrowing money or the return earned on deposited funds, typically expressed...

Mortgage

A mortgage is a loan used to purchase real estate, where the property serves as collateral. The borr...

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