APR+

APR+‏‎ is a term used in the field of finance and banking, referring to the Annual Percentage Rate (APR) with additional features or benefits. APR+‏‎ is often used by financial institutions to offer more competitive rates or additional services to their customers.

Overview

The APR+‏‎ is a measure of the total cost of borrowing, including interest and fees, expressed as a yearly rate. It is used to compare different loan and credit products. The "+" in APR+‏‎ often refers to additional features or benefits that are included in the product, such as rewards programs, insurance coverage, or other services.

Calculation

The calculation of APR+‏‎ is similar to the calculation of the standard APR. It includes the nominal interest rate, any fees or charges associated with the loan, and the term of the loan. However, it may also take into account the value of any additional features or benefits included in the product.

Benefits

The main benefit of APR+‏‎ is that it provides a more comprehensive view of the cost of borrowing. By including the value of additional features or benefits, it allows consumers to make more informed decisions when comparing different loan or credit products.

Criticisms

Critics of APR+‏‎ argue that it can be misleading, as it may make a loan or credit product appear cheaper than it actually is. They also argue that the value of additional features or benefits can be subjective and difficult to quantify.

See also

• Interest rate
• Loan
• Credit (finance)
• Finance
• Banking

‎