apr and interest rate explained

 · Your loan EMI likely to come down as RBI cuts Repo rate by 25 bps 4 Apr, 2019, 11.48AM IST. This is second consecutive time the RBI has cut the repo rate in this calendar year.

What does it mean when the Fed lowers or raises rates, as did just this month, The APR will typically by .1 to .5% higher than the interest rate.

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What is the difference between my APR and my interest rate? We get this question frequently at ALCOVA Mortgage. So this video is our way of breaking it down into a simple explanation. Please reach.

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An auto loan’s interest rate is the cost you pay each year to borrow money expressed as a percentage. The interest rate does not include fees charged for the loan.The Annual Percentage Rate (APR) is the cost you pay each year to borrow money, including fees, expressed as a percentage.