| as at 31st August 2009 | Interest Rate pa |
Comparison Rate |
Offer Code |
| Variable Rates | |||
| Introductory | 4.59% | 5.11% | RHL |
| Basic | 4.99% | 5.17% | RHL |
| Standard Variable | 4.99% | 5.02% | RHL |
| Line of Credit | 5.19% | n/a | SGB | Fixed Rates |
| 1 Year | 5.29% | 5.20% | RHL |
| 2 Years | 5.99% | 5.36% | HBS |
| 3 Years | 6.49% | 5.63% | SUN |
| 4 Years | 7.29% | 5.94% | HSL |
| 5 Years | 7.09% | 6.10% | HSL |
| 7 Years | 8.14% | 7.08% | CBA |
| 10 Years | 8.24% | 7.63% | CBA |
| 15 Years | 8.24% | 8.10% | RHL |
WARNING: This Comparison Rate applies only to the example of a loan of $300,000 repayable over a term of 25 years 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 Rates but may influence the cost of the loan.
Rates are current as at day of publication but subject to change at any time. Above are a guide and are not an offer or binding. Minimum and maximum loan amounts apply. Contact Finance Select for further information
Comparison rate legislation helps consumers identify the "true cost" of a loan. It is a rate that includes both the interest rate and fees and charges relating to a loan, reduced to a single percentage figure.
Comparison rates only have to be provided for credit that is;
- wholly or mainly for personal, domestic or household purposes
- fixed term credit, that is, credit that must be repaid within a specified time period.
However, you should be aware that the comparison rate legislation does not take into account:
- mortgage insurance costs (if applicable)
- the value of loan features to your particular circumstance
- government charges
- fees or charges which may or may not be charged, because they
depend on some event which may or may not occur
The comparison rate cannot predict or calculate the effect of interest rate changes, so it is only indicative.
Therefore, we urge borrowers to discuss their needs in regard to the loan, rather than solely base a decision on comparison rate.