Annual Percentage Rate – in a nutshell, is the amount of interest a bank or lender charges on money that it lends. Calculated for a period of a year makes it an easy comparable figure, which takes into consideration the interest and fees.
If you see ‘representative’ before the APR, this is a financial service concept that ensures credit or loan interest rates quoted through advertising take into account all charges associated with a product. Not just the interest rate.
Here at Oodle we always make our APR competitive and are always honest with the amount. Transparency is in our DNA.