Annual percentage rate
An annual percentage rate (APR) applies to each loan. This is a cost percentage that includes all costs of the loan. This percentage ultimately determines how much you will periodically pay off to repay your loan. The APR allows you to better compare different offers .
With some financing companies you pay extra costs in addition to the interest costs. You can think of transfer costs, consultancy costs or a transaction fee. You do not pay these costs at Fine Lender.
If the annual cost percentage is equal to the borrowing rate, the bank will not charge any other costs in addition to the interest to be paid. If a bank does charge extra costs, the annual percentage rate is higher than the debit interest rate.