Rates & Fees

Comparison Rates

Compare ‘apples with apples’ when it comes to loan interest rates.

What is a Comparison Rate?

The Comparison Rate is an indicative interest rate that is designed to help members identify the 'true cost' of a loan. The Comparison Rate takes into account the interest rate and "ascertainable fees and charges" that relate to the loan, in an attempt to express some of the costs of a loan into a single (comparison) rate.

"Ascertainable fees and charges" are those that are definitely payable during the life of the loan - such as application fees, monthly or annual charges, cost of valuation and legal fees.

What isn't included?

The Comparison Rate does not include fees and charges that may occur or are based on some future "event" - such as redraw, early termination fees, progress payments or fees charged by some institutions when you decide to switch lenders. In addition, government and statutory charges are not included - as these are standard irrespective of the type of loan or who the lender is.

So, whilst the Comparison Rate is a useful tool for comparing the cost of different loans, it should be remembered that it doesn't provide the total picture.

What to bear in mind

It's important to consider all the features and benefits of the loan - rather than only focusing on the Comparison Rate. A Comparison rate does not take into account all the factors that should be considered when comparing different loan offers from different financial institutions / lenders. Benefits such as redraw, 100% offset and ability to make additional repayments / flexible repayment periods are not included within a Comparison Rate - but they can make a difference to the attractiveness of a loan.

Effective 11 March 2010

 

Home & Residential Investment Loans

    Standard Variable Rate

Introductory Rate

 Fixed 1 Yr Fixed 2 Yrs
Annual Percentage Rate (p.a.) 6.82 5.82 6.59 7.29
Amount Term Comparison Rate1 % p.a.  
$20,000 4 years 8.48 8.02 8.37 8.84
$25,000 5 years 7.90 7.52 7.81 8.21
$30,000 5 years 7.72 7.34 7.64 8.03
$50,000 7 years 7.22 6.94 7.15 7.46
$70,000 25 years 6.92 6.82 6.90 7.02
$100,000 25 years 6.89 6.79 6.87 6.99
$130,000 25 years 6.87 6.77 6.85 6.97
$150,000 25 years 6.87 6.76 6.84 6.96
$200,000 25 years 6.86 6.75 6.83 6.95
$225,000 25 years 6.85 6.75 6.83 6.95
$250,000 25 years 6.85 6.74 6.82 6.94
$275,000 30 years 6.84 6.75 6.82 6.93
$300,000 30 years 6.84 6.75 6.82 6.93

    Fixed 3 Years Fixed 5 Years
Annual Percentage Rate (p.a.) Negotiated Negotiated
Amount Term Comparison Rate1 pa
$20,000 4 years n/a n/a
$25,000 5 years n/a n/a
$30,000 5 years n/a n/a
$50,000 7 years n/a n/a
$70,000 25 years n/a n/a
$100,000 25 years n/a n/a
$130,000 25 years n/a n/a
$150,000 25 years n/a n/a
$200,000 25 years n/a n/a
$225,000 25 years n/a n/a
$250,000 25 years n/a n/a
$275,000 30 years n/a n/a
$300,000 30 years n/a n/a

1 These rates are applicable for secured loans only

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the costs of the loan.

Personal & Car Loans

    Partially Secured Variable Unsecured Variable Special Fully Secured Variable
Annual Percentage Rate (p.a.) 12.50 14.20 8.95
Amount Term Comparison Rate pa
$2,500 2 years 20.40 22.16 16.74
$5,000 2 years 16.50 18.22 12.89
$10,000 3 years 13.89 15.60 10.31
$15,000 4 years 13.22 14.92 9.65
$20,000 4 years 13.04 14.74 9.47
$25,000 5 years 12.85 14.56 9.29
$30,000 5 years 12.80 14.50 9.23
$50,000 7 years 12.63 14.34 9.08

Please note: Fees and charges apply. Terms and conditions are available on application.

Questions?

If you have any questions, please contact us.

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