APR stands for Annual Percentage Rate.
Simply put this means the total amount a loan will cost across a one year period.
Expressed as a single percentage, the APR calculation considers the interest rate and all other fees to reflect the overall cost of a loan over the whole year. Lenders must explain the APR before an agreement to take out a long or short term loan.Learn More
There are quite a few different types of APR. These include:
Fixed APR, Default/Penalty APR, Introductory APR, Variable APR, Purchase APR, Cash Advance APR, Delayed APR and Tiered APR.
For further information about these different types of APR click the link below.Learn More
If you are looking for help or advice with regards to APR, managing repayments or looking for qualified people to speak to in confidence, try some of the links on the help page.
We have compiled a list of the best resources to help you with your current situation.
It is best to speak to a professional.Learn More
- Marcie Geffner, BankRate.com
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