Details
- Publication date
- 1 January 2015
- Author
- Directorate-General for Financial Stability, Financial Services and Capital Markets Union
Description
The annual percentage rate of charge refers to the annual cost of a loan to the consumer, expressed in terms of the total value of the loan.
A calculator based on these provisions is available below to help users (including regulators, consumers, creditors) calculate the APRC of a given value of credit. This Excel tool complements the existing calculator for consumer credit.
This tool is accompanied by a report presenting 44 examples and a guide.
Disclaimer: The data provided by the simulator has not been formally adopted or approved by the Commission and should not be considered an official statement of the Commission’s views. The Commission does not guarantee the accuracy of the data and accepts no responsibility for the information provided by this tool.