What Do The Acronyms AER and APR Stand For?

Question

AER relates to savings and APR relates to credit cards.....

Answer 1

APR is the annual percentage rate applied to your financial product.  however it might be applied daily, weekly, monthly, quarterly, 6 monthly or yearly.  therefore the compound rate would be completely different in each case.

AER is annual equivalent rate, which is supposed to be a rate taking into account the compound effect of the interest so you can compare 1 product against another with more ease irrespective of when they actually apply the interest.

both can be applied to borrowings or savings.

Answer 2

AER = annual equivalent rate

APR = annual percentage rate.

You could have found this answer by entering aer and apr on Google search, but thanks for the points.

Answer 3

APR is Annual Percentage Rate. I don't know what AER is though. Sorry.