Annual Percentage Rate (APR)

What is annual percentage rate (APR)?

Annual Percentage Rate (APR) Definition: APR, or annual percentage rate, refers to the interest paid annually, and it is often provided as a percentage and includes any fees or charges in the transaction or loan without including the compounding interest.

APR is a figure that gives consumers or borrowers the final amount they can expect to pay so that they can compare the rate with other lenders for a variety of investments, credit cards, and loan products.

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