Find financial terminology hard to follow? Here's a quick guide to all the commonest terms - and what they mean to you.
Annual equivalent rate. The annual rate of interest taking into account how often the interest is added to your account. The higher the AER, the better the return.
Annual percentage rate - what you pay for a loan or credit card, taking into account the interest on the sum borrowed and other charges. All lenders have to tell you what their APR is and you can use it to compare loans and credit cards from different providers.
A charge made by some lenders for arranging your loan.
An association that brings insurance companies together to set industry standards and codes of practice.
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