Online Bank Accounts – UK

APR stands for Annual Percentage Rate.

It indicates the real and global cost of the money you borrow on a loan, credit card or mortgage.

APR is quite important because it takes into consideration not just the basic interest rate of the loan, but also the other costs and fees relating to it .

So APR is the index you should use to instantly compare and evaluate different loan offers.

ISA stands for Individual Savings Account.

A savings account of this type, called cash ISA,  is shielded from financial taxation for a capital of up to £3,600 in a tax year. Therefore, within this figure, you don’t pay tax on the interest on savings.

In a stocks and shares ISA, the no-tax limit is increased to £7,200. So, up to this sum, you don’t pay tax on the capital gains on investments.