APR

¹

[ey-pee-ahr]

noun

Finance, Banking.

1. annual percentage rate: the annual rate of interest that a bank or other creditor charges for lending money to a borrower.

Apr.

²

abbreviation

1. April.

APR

¹

abbreviation

1. annual percentage rate

Apr

²

abbreviation

1. April

Word History and Origins

Origin of APR¹

First recorded in 1970–75

Example Sentences

For example, Jackson Hewitt charges a 35.96% APR financing fee on loans between $100 and $1,500.

From Salon

They also have a no fee loan option that comes with 0% APR.

From Salon

If you need money now, then a tax refund advance loan is probably better than a payday loan or a title loans that have exorbitant interest rates, often up to 300% APR.

From Salon

Or if you have good credit, you can qualify for a 0% APR credit card offer.

From Salon

“We are now seeing what it means for the Trump Administration to destroy the Consumer Financial Protection Bureau — it is letting off scot-free a deceptive company that claimed 0% APR for payday loans of 400% APR or higher, with interest disguised in fake ‘tips’ and ‘donations’ that virtually everyone was forced to pay,” Lauren Saunders, associate director at the nonprofit National Consumer Law Center, said in a statement reported by CNN.

From Salon

When To Use

What does APR mean in banking?

APR is an abbreviation of annual percentage rate, which is the annual rate of interest a bank or other creditor charges for lending money to a borrower. The APR is expressed as a percentage of the loan amount and includes not only the annual interest on the loan but all other costs involved in getting the loan.An APR can also refer to the annual rate of return on an investment (also called the annual percentage yield or APY), such as a savings CD (certificate of deposit), expressed as a percentage of the investment amount.