Annual Percentage Rate (APR) is the yearly cost of borrowing money expressed as a percentage of the loan amount, including the base interest rate plus most fees. It's required by the Truth in Lending Act to be disclosed on consumer loans, mortgages, and credit cards in the US, giving borrowers a more honest comparison than the headline interest rate alone. A mortgage advertised at 6.5% interest might carry a 6.85% APR once origination fees and discount points are included. Always compare APR-to-APR when shopping loans. Note: APR for credit cards excludes the compounding effect, which is why APY is the more accurate metric on savings products.
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APR
August 22, 2026 · Aditya Gupta
Personal Finance
Related terms
1099 Form
Form 1099 is a family of IRS forms reporting various types of non-W-2 income. 1099-NEC reports nonemployee compensation…
529 Plan
A 529 plan is a tax-advantaged education savings account. Contributions grow tax-free; withdrawals for qualified education expenses (tuition,…
ABLE Account
Achieving a Better Life Experience (ABLE) accounts are tax-advantaged savings accounts for individuals with disabilities (onset before age…
AGI
Adjusted Gross Income (AGI) is your total gross income minus specific 'above-the-line' adjustments — traditional IRA contributions, student…
APY
Annual Percentage Yield (APY) is the effective annual rate of return on a savings or investment product, accounting…
Asset
An asset is anything you own that has economic value — cash, investments, real estate, vehicles, ownership interests…
