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APR
1[ ey-pee-ahr ]
noun
- annual percentage rate: the annual rate of interest that a bank or other creditor charges for lending money to a borrower. Compare APY ( def ).
Apr.
2abbreviation for
- April.
APR
1abbreviation for
- annual percentage rate
Apr
2abbreviation for
- April
亚洲网紅露点 History and Origins
Origin of APR1
Example Sentences
For example, Jackson Hewitt charges a 35.96% APR financing fee on loans between $100 and $1,500.
They also have a no fee loan option that comes with 0% APR.
If you need money now, then a tax refund advance loan is probably better than a payday loan or a title loans that have exorbitant interest rates, often up to 300% APR.
Or if you have good credit, you can qualify for a 0% APR credit card offer.
鈥淲e are now seeing what it means for the Trump Administration to destroy the Consumer Financial Protection Bureau 鈥 it is letting off scot-free a deceptive company that claimed 0% APR for payday loans of 400% APR or higher, with interest disguised in fake 鈥榯ips鈥 and 鈥榙onations鈥 that virtually everyone was forced to pay,鈥 Lauren Saunders, associate director at the nonprofit National Consumer Law Center, said in a statement reported by CNN.
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More About APR
What does APR mean in banking?
APR is an abbreviation of annual percentage rate, which is the annual rate of interest a bank or other creditor charges for lending money to a borrower. The APR is expressed as a percentage of the loan amount and includes not only the annual interest on the loan but all other costs involved in getting the loan.
An APR can also refer to the annual rate of return on an investment (also called the annual percentage yield or APY), such as a savings CD (certificate of deposit), expressed as a percentage of the investment amount.
Examples of APR in a sentence
鈥淎n APR can make it easier to compare loan rates since it tends to include all the fees associated with it.鈥
鈥斺漊nderstanding Annual Percentage Rates鈥 . Retrieved March 15, 2020.
鈥淪ometimes getting a good APR will require you to pay certain fees or a down payment, such as with an auto loan.鈥
鈥斺漊nderstanding Annual Percentage Rates鈥 . Retrieved March 15, 2020.
鈥淪ure, the best APR is 0%, but those are typically introductory offers that don鈥檛 last long.鈥
鈥斺漊nderstanding Annual Percentage Rates鈥 . Retrieved March 15, 2020.
APR vs. interest rate
APR and interest rate are easily confused, as they are both an annual percentage rate related to how much a loan will cost on top of the principal amount being borrowed.聽
APR is a more comprehensive measure of the costs as it includes the interest rate as well as other charges or fees such as private mortgage insurance (PMI), loan origination or processing fees, closing costs, and prepaid interest. For this reason, the APR quoted for a loan is usually higher than the stated interest rate.
Other terms connected with the topic of APR
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