What is the difference between interest rate and APR?

By SoFi | Jun 18, 2014 | | No Comments

The interest rate is the percentage of the loan amount that is charged for borrowing money. The APR includes not only the interest rate, but also certain other fees charged by the lender, and represents the total cost of borrowing.

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What is the difference between interest rate and APR?

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All your finances. All in one app.

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All your finances.
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