Annualized Global Effective Rate (APR)
Formerly the Global Effective Rate, the Annualized Global Effective Rate is the benchmark for calculating the cost of a loan. The APR is expressed in% is more precise than the TEG because it corresponds to the rate over 12 months, which greatly facilitates the calculation of the rate of a loan.
You will find the APR indicated on each credit offer or credit contract.
For consumer credit, the old name was TEG.
Other definitions of the lexicon starting with the letter T:
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