If you're looking for the definition of a particular finance term or phrase, you can look it up here in our loans glossary. If the term or phrase you're looking for isn't listed, please let us know and we'll make sure it gets included.
A.P.R
APR or Annual Percentage Rate is a term used to describe the actual cost of a credit agreement, as calculated over a period of 12 months. For example, if an individual were to borrow a £10,000 loan with an APR of 5%, the total amount repayable each year would be £500 for the full duration of the loan term e.g. 25 years.
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