02/02/2022
If you’ve shopped around for a home loan for a while, you’ve probably come across the term ‘comparison rate’ alongside ‘interest rate’. And we bet you’re wondering what the difference is, and rightly so.
In Australia, lenders legally need to show customers a comparison rate to help you compare and choose a home loan that’s right for you.
Knowing what a comparison rate is and how it’s calculated can help you make more informed home loan decisions.