Financial Term: Representative APR

Reprensative APR is the annual interest charged against the borrowed amount. This percentage is a singular number that helps people to compare the loans offered by different banks in Malaysia. The Representative APR varies for everyone based on their credit score. The interest that ends up being charged for a person taking out a loan does not vary too much from the representative APR and under normal circumstances close to 60% of the applicants are offered the representative APR.

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