The interest rate is the cost you’ll pay each year to borrow money. It doesn’t reflect any fees or charges that you may have had to pay for the loan.
An annual percentage rate (APR) is a broader measure of the cost to you of borrowing money. The APR, in addition to reflecting the interest rate, also includes fees and other charges that you may have to pay to get the loan. For that reason, your APR is usually higher than your interest rate.
We show your interest rate on the My loans page after you log in to your my.scratch.fi account. To view your APR, review your loan statements. To do so, click Payment history > Statements > Download.