Comparison Rate
The true cost of a loan, fees included. Not the headline.
What is Comparison Rate?
The comparison rate is the "all-in" interest rate — combining the base rate with most standard fees into a single figure. It's the closest thing to an apples-to-apples comparison between loans. By law, Australian lenders must publish it alongside any advertised rate.
Why it matters for you
Two loans with the same 5.99% headline can have different comparison rates — one might be 6.02%, the other 6.35%. That 0.33% gap translates to thousands over a loan's life. The comparison rate isn't perfect (it's based on a $150K loan over 25 years) but it's the easiest first filter.