Below are alphabetical listings of definitions of acronyms and terminology that may be used throughout this site.
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AER stands for 'annual equivalent rate' and shows what the yearly rate would be, after taking in to consideration how often interest is added to the account.
APR stands for ‘annual percentage rate’. It aims to give people a more accurate idea of how much they are being charged when they borrow money. It allows people to compare the total cost of borrowing money for different types of loan, and lengths of time.