Comparison Rate Calculator

A comparison rate is a method of standardising the true cost of a loan. It factors in the interest rate, fees and charges and displays a single percentage rate that can be used to compare various loans from different lenders. Since 1st July 2003, the Australian Government made it compulsory to display a comparison rate for any advertisement of an interest rate.

This comparison rate calculator can help you to find the comparison rate and see what the actual cost of a home loan will be.

Comparison Rate Calculator


Comparison Rate Calculator Notes & Assumptions

A comparison rate does not take into account the following fees

  • government charges such as stamp duty, Mortgage Registration fees
  • solicitors / surveyors fees
  • Lenders Mortgage Insurance
  • factors such as fee free banking
  • any fee that may not occur (such as late payment fees)
  • deferred establishment fees
  • transaction fees (such as redraw fees)
  • loan variation fees


  • Interest rate does not change over the loan term
  • Interest is calculated by compounding on monthly repayment frequency.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.

The Comparison Rate Calculator has been provided in good faith as a guidance tool only. Results are not financial advice, are a guide only, and are not a guaranteed outcome or quote. You should always discuss your individual situation with an Australian Credit Licensee or authorised Credit Representative.

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