What Is APR And How Does It Affect Loans?

In normal life, we usually read this APR which stands for “Annual Percentage Rate”, especially for people having credit cards. But very few of them know about APR. Normally, when we avail of any type of loan like a home loan etc. we have to pay interest against it similarly in the case of credit cards if a cardholder does not pay off its bill within the mentioned period, the APR will be charged.

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