Opening a bank account online takes a few minutes if you are eligible and have the required documents ready. Depending on the type of account you want to open, you may or may not require to deposit money immediately. Making an initial deposit is easier if you already have an account at another bank.
APR stands for annual percentage rate and it denotes your annual interest rate instead of a monthly charge. Your APR includes your interest rate and perhaps some additional charges such as document processing, guarantee, loan processing and application charges.