Comparison rate

What does this loan really cost, as a rate?

Ongoing interest rate 5.50%

Introductory period (0 = none) 12 months

Introductory rate 4.50%

Upfront fees (application, establishment) $600

Monthly account fee $10

Comparison rate

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Based on $150,000 over 25 years, monthly repayments.

Monthly repayment –

Repayment once the ongoing rate applies –

Fees over the 25 years –

Same loan and fees on $500,000 –

Calculated as the National Consumer Credit Protection Regulations 2010 reg 100 defines it: the nominal annual rate that equates the credit provided with every repayment and every ascertainable credit fee, on the $150,000, 25-year benchmark in reg 97 (checked against the Federal Register of Legislation on 28 September 2026). Monthly repayments, re-derived when the introductory rate ends; the ongoing rate is assumed not to change (National Credit Code s 180(2)(b)). Government fees and charges are excluded, as reg 100(3) requires, and so is any fee that depends on something that may not happen, such as early repayment (Code s 166(2)); no fee at the end of the loan is assumed. Indicative only. Not financial advice.