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APR

Definition of 'APR'

APR stands for Annual Percentage Rate, which arose from UK credit law, specifically the Consumer Credit Act, 1974.

APR is used in the UK as a measure of the total cost of credit, expressed as the rate of interest charged on an annualised basis after adding all other costs of the credit facility.

In Australia, we use the ‘Comparison Rate’ for the same purpose, or when used in connection with mortgages or loans, the Australian equivalent is the Average Annual Percentage Rate (AAPR)

All of these measures are aimed at helping consumers to be better able to compare the total cost of credit.

Use the links below to locate the term you are looking for. If you can't locate it, please get in touch.

Credit Jargon Starting 'G'

Credit Jargon Starting 'I'

Credit Jargon Starting 'J'

Credit Jargon Starting 'L'

Credit Jargon Starting 'M'

Credit Jargon Starting 'S'

Credit Jargon Starting 'T'

Credit Jargon Starting 'V'

Credit Jargon Starting 'W'

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