What is a Comparison Rate?

A comparison rate is an interest rate that takes into account foreseeable fees and charges associated with the loan. This is done in an attempt to provide the consumer with a more balanced view of the products offered by the various lending institutions, so that a more informed decision may be made in selecting a mortgage product.

In calculating the comparison rate, the following factors are taken into account: - the amount of the loan, the term, the repayment frequency, the interest rate, plus fees and charges connected with the loan, other than government charges, fees and charges that may or may not be incurred because they depend upon a certain event such as early payout of the loan, and fees and charges which are not ascertainable at the time the comparison rate is provided (for example mortgage insurance fees).

Comparison Rate Schedules

To see all the schedules from various lenders around Australia, please click here to open the CRS console and select the appropriate lender to load their current schedule. Click here to obtain the latest CRS schedules »