APR (Annual Percentage Rate)
The yearly cost of borrowing, expressed as a percentage, including most fees.
Why it matters
APR bundles the interest rate together with most upfront fees into a single yearly percentage. It is the honest comparison number for two loan offers, because a lower interest rate paired with fatter fees can produce a higher APR — meaning the lower-rate loan is actually more expensive.
Learn deeper
Loans — What borrowing costs
See also
Educational only — not financial, tax, or legal advice.