Annual Percentage Rate (APR)

Annual Percentage Rate (APR) is a standardized way to measure the total yearly cost of borrowing, expressed as a percentage. It includes the interest rate plus any additional fees or costs associated with the loan or credit card, providing a clearer picture of what you'll pay over a year. APR helps you compare different borrowing options by showing the true cost in one easy-to-understand figure, allowing you to assess affordability and make informed financial decisions.