APR

The Annual Percentage Rate of interest includes not only the annual rate of interest that is applied to a bank account, but any fees and charges that are applicable also. Because savings accounts usually do not incur fees or charges, the term APR is generally used when referring to loan accounts. In the UK, lenders and credit card companies are legally obliged to clearly outline the APR to their customers.

See also:

[wp_ad_camp_1]