Published: 23.11.2017 Updated: 01.06.2023

Annual percentage rate of charge (APRC) for consumer credit to resident households in euro

Annual percentage rate of charge – an annualized interest rate that equalizes the present values of prospective or actual commitments (loans, fee for considering loan applications, loan administration costs, commission fees, etc.) that result from the terms and conditions of the monetary financial institution-customer agreement.

Total cost of the credit

All costs, including interest, commission, fees and any other payments, which must be paid by the consumer in relation to the credit agreement and which are known to the creditor (except costs of a sworn notary). The total costs of the credit shall also include costs for additional services in relation to the credit agreement, including insurance premiums, if conclusion of an additional services contract is a mandatory precondition in order to receive credit or in order to receive it on the terms and conditions offered.

Consumer credit

A loan to households for purchasing consumer goods, such as household appliances and cars, and paying for services, such as medical care and travels, that are not related to gaining profit.