The Total Annual Cost (TAC) is an indicator of the total cost of financing applicable to any kind of loan which enables loan financing costs to be compared, regardless of their maturities or terms, as well as different financial products.

TAC includes: amount of credit, ordinary interest, value added tax, fees, expenses, insurance premiums, principal amortizations, discounts and payments agreed on in the contract as well as any other charge the client must pay when the loan is taken out and during its life, including the difference between the cash price of a good and its price on credit.

TAC is expressed as an annual percentage.

On the web site you can consult:

• Documents that define what TAC is, how it is calculated and how it can be used in everyday life in the section Financial system / Services.
• Credit and Total Annual Cost (TAC) (PDF)
• Calculation of Total Annual Cost (TAC) (PDF)