APR stands for Annual Percentage Rate and relates to the total cost of the loan. The purpose of an APR is to help people compare loans and credit cards more easily.
How is APR calculated?
APR is calculated based on interest rates and any fees attached to the loan. Because APR includes fees as well, it helps you compare loans more accurately than if you compare on interest rates alone.
Morses Club PLC (LON:MCL) is an established, relationship-driven consumer finance provider offering a range of credit products and delivering exceptional services to customers in the non-standard finance market.