It depends on what you are getting credit for. A home loan with an APR less than 5.5% is good. A credit card with an APR of 15% or less is good.
APR is calculated by multiplying the amount of the loan by the interest rate. Next divide by the length of time of the loan to get the monthly APR amount.Ê
APR affects the value of loan repayments because it's a percentage of the total loan repaid on an annual basis. A low APR makes repayments cheaper than a high APR.
The APR or Annual Percentage Rate is the tool to use to compare the cost of paying back a loan. The lower the APR, the cheaper the cost of the loan. All UK loan products will show the APR for any loan you are interested in taking out.
Darn good credit
If a customer's credit is really bad, then they may not be able to get a loan. If a customer's credit rating is poor, they may be able to get a loan at an APR of 12% - 15%.
What is the apr for 17% add on for two years
The average rate of a boat loan is around 5.4%. Of course this is based on your credit rating and the company you get your loan from. Rates can sky rocket if you don't have good credit. So make sure to do your research when investing in a boat loan.
The APR loan rate or annual percentage rate of any loan differs from one financial institution to another. To find a specific APR rate one would need to contact their local bank or financial institution.
(car loan * APR + car loan) / 12/ amount of years. i think
The APR on a loan from Brentwood Bank varies on the type of loan and term length. For instance, a home equity term loan for 36 months is at 2.990%. An unsecured loan for 26 months is 9.75% and a 30 year mortgage loan starts at 4.26%.
To find the APR which is the true rate of interest charged for a loan, use the following formulawhere APR is the annual percentage rate,i is interest (finance) charge on the loan,P is principal or amount borrowed, andn is number of months of the loan. APR = 72i__________________3P(n + 1) + i(n - 1)