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Loans
Annual Percentage Rate (APR)
The total yearly cost of borrowing expressed as a percentage. APR includes the interest rate plus all fees and charges, giving you the true cost of a loan. In South Africa, lenders must disclose the APR before you sign a credit agreement.
Usage Examples
"The APR on this personal loan is 24.5%, which includes the interest rate plus all monthly fees."
"Always compare the APR rather than just the interest rate when choosing between loan offers."
"By law, your lender must show you the APR before you sign the credit agreement."