Glossary · UK
What is APR / APRC?
Annual Percentage Rate — true cost of borrowing including fees.
Full Definition
APR (Annual Percentage Rate) is the total cost of a loan or credit expressed as an annualised rate, including most fees and charges. APRC is the mortgage equivalent — Annual Percentage Rate of Charge. Lenders must show «representative APR» given to at least 51% of accepted applicants. Personal loan headline APR is typical 7-15% (2025); credit cards 20-30%; mortgages 4-6%. Always compare APR to the headline interest rate — fees can make a «cheap» loan expensive.
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Disclaimer: Definitions are for guidance only. For decisions about your tax, savings, property or pension situation, always consult a qualified professional or refer to gov.uk.