Annual Percentage Rate (APR)

The cost you pay each year to borrow money, including fees, expressed as a percentage. The APR is a broader measure of the cost to borrow money because it reflects not only the interest rate but also the fees that you have to pay to get the loan.
Your APR is determined based on your creditworthiness, among other factors. Financial institutions must disclose a financial instrument's APR before any agreement is signed.