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Comparison Rate

A comparison rate helps you understand the true cost of a loan by combining the interest rate with most fees and charges into a single percentage. While a low interest rate may seem attractive, additional costs such as application fees, ongoing fees, and settlement costs can significantly increase the overall expense of a loan. Use our Comparison Rate Calculator to compare different lending options side-by-side and gain a clearer picture of which loan may offer better value over time. This tool is designed to help Australian home buyers, refinancers, and property investors make more informed borrowing decisions before committing to a mortgage.

Comparison Rate Calculator – Awesome Lending Solutions

Comparison rate calculator

The comparison rate shows the true cost of a home loan by including fees alongside the interest rate. Use it to compare two loans on an apples-to-apples basis.

What is a comparison rate? Under Australian law (National Consumer Credit Protection Act), lenders must display a comparison rate alongside their advertised interest rate. It factors in most fees and charges and is calculated on a standard $150,000 loan over 25 years. A loan with a low rate but high fees may have a higher comparison rate than a loan with a slightly higher rate and no fees — meaning it actually costs more. Enter your own loan amount and term below for a personalised comparison rate.
Loan A

Fees

Loan B

Fees

Full cost breakdown over loan life

Cost item Loan A Loan B Difference
Standard comparison rate disclosure: Comparison rates are calculated on a loan of $150,000 over 25 years under Australian legislation. Your personalised comparison rate above uses your actual loan amount and term. Warning: the comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or loan amounts will result in a different comparison rate.

Results are estimates only and do not constitute financial advice. Comparison rates are calculated using the method prescribed under the National Consumer Credit Protection Act 2009. Some fees and charges (e.g. redraw fees, early repayment fees on fixed loans) may not be captured. Speak with a licensed mortgage broker for a complete cost analysis. Credit Representative 407514 | ACL 389087 via AFG.

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