What's the difference between APR and Interest Rate?

The interest rate is simply the cost of borrowing the principal, expressed as a percentage. It only accounts for the interest charged on the loan itself.

The APR (Annual Percentage Rate) is a broader measure. It includes the interest rate plus the one-time origination fee assessed at the beginning of your loan. This makes it a more complete picture of the true cost of borrowing.

To make a comparison with your credit card, you should compare your credit card's APR directly against our APR. We provide both numbers upfront, so you have total transparency into your loan's cost.

You can read more about our rates and the origination fee here.