Calculate the true cost of a loan by combining the advertised interest rate with all fees and charges — as required by Australian law (NCCPR Regulation 100)
← Back to All CalculatorsAdvertised Rate
6.00%
p.a.
Comparison Rate
6.05%
p.a. (true cost)
Fees add 0.05% to the true rate
The comparison rate is higher than the advertised rate because of fees
Upfront Fees
Ongoing & Exit Fees (over loan term)
A comparison rate combines a loan's interest rate with most of the fees and charges into a single percentage figure. It is designed to help you compare the true cost of loans across different lenders.
Australian law (National Consumer Credit Protection Regulations, Regulation 100) requires lenders to display a comparison rate alongside their advertised interest rates for all consumer credit products.
What IS included: Application fees, monthly/annual fees, valuation fees, settlement fees, discharge fees, and LMI costs capitalised into the loan.
What is NOT included: Government fees (e.g. mortgage registration), stamp duty, early repayment penalties, redraw fees, or fees that depend on future events.
• A low advertised rate with high fees can easily be more expensive than a slightly higher rate with no fees.
• The standard comparison rate is calculated on a $150,000 loan over 25 years — this may differ significantly from your actual loan.
• Use this calculator with your loan amount and term for a personalised result that is more meaningful than the advertised comparison rate.
• Always compare both the comparison rate AND the total loan cost when evaluating loan offers.
WARNING: This comparison rate applies only to the example 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 cost of the loan.
This calculator is for illustrative purposes only and does not constitute financial advice. Always verify figures with your lender or a licensed mortgage broker.
Our brokers can search hundreds of loans and find the best comparison rate for your situation.