APR

Meaning

Annual percentage rate

An APR is the rate of interest charged over the course of one year. In some cases, such as a credit card account or home mortgage, the APR may include fees associated with the loan. Therefore the APR of the loan may be higher than the interest rate.

Credit card APRs typically range between 10% and 25%. Applicants with higher credit scores may be able to obtain lower APRs because they are considered lower risk for the lender.

Example

"I pay off my credit card each month since the APR is over 20%."

Related Slang

Usage

Last Updated: September 26, 2017

APR definition

This page explains what the acronym "APR" means. The definition, example, and related terms listed above have been written and compiled by the Slangit team.

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