Annual Percentage Rate

(redirected from Annualised Percentage Rate)
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Annual Percentage Rate

The actual cost of borrowing money, expressed in the form of a yearly measure to allow consumers to compare the cost of borrowing money among several lenders.

The Federal Truth-in-Lending Act (15 U.S.C.A. § 1601 et seq. [1968]) mandates the complete disclosure of this rate in addition to other credit terms.

Cross-references

Truth in Lending Act.

References in periodicals archive ?
Datamonitor said most credit card holders were using uncompetitive products and half the 32 million credit cards in use charged interest at an annualised percentage rate of more than 22 per cent.
The CEO said that the bank would offer low Annualised percentage rates (APR) on the auto, mortgage and personal loans in the Salaf range.