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Loan Tip - Comparison Rate: What is it?


A loan's comparison interest rate is the interest rate that you will be paying for a loan including any fees and charges. You may have to look as this may not be clear immediately on a lenders advertising.

Make sure that you ask any bank that you're comparing with for their comparison rate to ensure that you know exactly what repayments you'll be making; like comparing apples with apples!

The article here also talks about split loans which can give you more flexibilty.

I've also previously talked about redraw facilities here.