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.


Truth in Lending Act.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
Lenders make a big play of the APR (annualised percentage rate) but these can be manipulated so that they do not reflect the cost.
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.