Quote:
Originally Posted by Kato
Dumb question...
But what is the difference between 9.5% comparison rate and 9.5%? How much do you fork out of your back pocket?
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Exactly, incorporates the fee's etc. over the life of the loan. And works out what the (comparison) 'interest rate' based on this. Establishment fees, monthly fees etc.
Repayment figure and comparison rate are the 2 things to keep an eye on. Don't look at the actual interest rate figure as it very deceptive when it comes to any loan (personal, or home loan)..