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When you borrow money, the monthly payment is only part of the picture. To avoid surprises, you need to understand how lenders actually calculate your payment and how much the loan will cost you in total over time.

Experian, the consumer credit reporting agency, has introduced a savings account for its members that earns 2% to 4% annual percentage yield (APY). The account, called the Smart Money Digital Savings Account, has a tiered-rate structure that’s based on customers’ Experian membership level.