What is an annual statement?
Annual statement or annual percentage rate, is the sum of all the costs you pay on a loan. Annual statement is calculated as a percentage of the borrowed amount.
Annueal statement can give you an overview of the total costs, i.e. the real price of your loan. The size of the annual statement depends on the term of the loan.
With an annual statement, you can therefore compare loans so that you can find the loan that best suits you and your needs.