We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What's the difference?
Options
My bank gave me a loan with an APR of 13.5% - this loan has payment protection on it. They said they could cancel the payment protection and give me a new loan using the exact same terms as the origional one and then quoted the "interest rate would be 14.9%". I told them that my origional loan was 13.5% APR and she said, "interest rate and APR are two different things, we use the interest rate".
I don't get it - are they at it?
I don't get it - are they at it?
0
Comments
-
This explains the difference between interest rate and APR http://www.moneysavingexpert.com/banking/interest-rates#APRA smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351K Banking & Borrowing
- 253.1K Reduce Debt & Boost Income
- 453.6K Spending & Discounts
- 244K Work, Benefits & Business
- 598.8K Mortgages, Homes & Bills
- 176.9K Life & Family
- 257.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards