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  4. What does interest mean?
  1. Home
  2. FAQs
  3. Interest and Fees
  4. What does interest mean?

What does interest mean?

Interest is a borrowing cost expressed as a percentage of the amount you have borrowed.

If you think of buying something online

  • you pay for the product and
  • then you pay for the delivery

The loan is your product and the interest is like your ‘delivery’ charge.

However in the financial world, to get the best comparison of average costs, and a better way of comparing loans is to use their Representative APR.


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