A comparison rate takes into account some of the fees and charges of a loan to give you a more accurate representation of a loan's interest rate once the costs are taken into account.

The comparison rates for all home loans and loans secured against real property are based on secured credit of $150,000 and a term of 25 years.

The comparison rates for personal loans and car loans are based on credit of $30,000 and a term of 5 years, unsecured, unless otherwise stated.

WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Comparison rates are not calculated for revolving credit products. Comparison rates are not required for revolving credit products such as overdrafts and lines of credit, as these products are not paid down gradually like a normal loan, which means the fees have a different impact on the overall cost of the loan.