annual percentage rate

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annual percentage rate

n
(Banking & Finance) the annual equivalent of a rate of interest when the rate is quoted more frequently than annually, usually monthly. Abbreviation: APR
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For borrowing by commoners, the bank's base rate is currently 4% which with a 4% interest in case of a personal guarantee rises to an annualised percentage rate of 8.
Bank of China launches new "iSmart" Tax Loan, which offers an annualised percentage rate ("APR") as low as 1.
We are offering a lower annualised percentage rate (APR) on our Salaf personal, car and mortgage loans," BMI Bank chief executive Jamal Al Hazeem said.