What Does APR Stand For?
APR stands for Annual Percentage Rate
APR, or Annual Percentage Rate, is a financial term that indicates the yearly cost of borrowing funds expressed as a percentage of the loan amount. It encompasses not only the interest rate but also any additional fees or costs incurred during the loan process, providing a comprehensive measure of the total expense associated with a loan. APR is a key factor for consumers to consider when comparing financial products, as it allows for a clearer understanding of the overall cost of credit.
Added on 14th April 2008 | Last edited on 17th June 2025 | Edit Acronym