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What does TAEG mean?

The 'Taux annuel effectif global' (TAEG) or Effective Annual Rate (EAR) identifies the cost of your loan's percentage rate and gives insights into how much the loan will‌ cost you annually, including interest and any fees.

It's a standardised way for banks to disclose borrowing costs and allows you to compare lender offers to choose the right loan for your needs.