Krediidikulukus
Krediidikulukus, in Estonian, refers to the cost of credit and is commonly presented as the annual percentage rate (APR) of a loan. It expresses the true yearly cost of borrowing a particular amount, enabling consumers to compare different credit offers on a like-for-like basis.
What is included and how it works: Krediidikulukus encompasses the interest rate and all mandatory charges
Regulatory context: In Estonia and across the European Union, the krediidikulukus is required to be disclosed
Purpose and use: The primary purpose of the krediidikulukus is to help consumers assess the overall cost