Comparison Rate Calculator

  • government charges such as stamp duty, Mortgage Registration fees
  • solicitors / surveyors fees
  • Lenders Mortgage Insurance
  • factors such as fee free banking
  • any fee that may not occur (such as late payment fees)
  • deferred establishment fees
  • transaction fees (such as redraw fees)
  • loan variation fees

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A comparison rate is a method of standardising the true cost of a loan. It factors in the interest rate, fees and charges and displays a single percentage rate that can be used to compare various loans from different lenders. This calculator can help you to find the comparison rate and see what the actual cost of a loan will be.

Assumptions
  • Comparison rates do not include: non-lender fees and government charges such as stamp duty, Mortgage Registration fees, solicitors / surveyors fees, factors such as fee free banking, any fee that may not occur (such as late payment fees), break costs, deferred establishment fees, transaction fees (such as redraw fees), loan variation fees .
  • Interest is calculated by compounding on the same repayment frequency. In practice, interest compounding frequency may not be the same as repayment frequency.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.

Note: The information provided by the calculator is intended to provide illustrative examples based on stated assumptions and your inputs. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. Borrowers should always discuss their individual situation with an Australian Credit Licensee or authorised Credit Representative.
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