What is APR?

Sharad Jaiswal
Sharad Jaiswal

Posted On: Mar 18, 2020

 

APR (Annual Percentage Rate) is the annual rate charged for borrowing an investment. It is normally expressed as a percentage to represent the yearly cost of funds over the term of a loan. The APR doesn’t take into account compounding. It provides a number to the borrowers so they can easily compare the rates charged by other lenders.

    Related Questions

    Please Login or Register to leave a response.

    Related Questions

    Banking Interview Questions

    Tell about the various accounts in the bank.

    There are basically four types of main accounts. They are following-..

    Banking Interview Questions

    Tell about the different types of banks.

    The main types of banks are the following-..

    Banking Interview Questions

    Give the difference between cheques and Demand Draft.

    The basic difference between cheque and demand draft is:..