What is difference between advertised interest rate and comp

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Grant Martin
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Re: What is difference between advertised interest rate and

Post by Grant Martin »

Good question Nsingh,

The main purpose of the comparison rate is to give you an average interest rate including fees & charges that apply to the account. For example, a lower advertised rate with ongoing fees will likely be a higher comparison rate than a slightly higher rate with no fees.
Grant Martin
Senior Mortgage Broker
P | 1300 889 743 E | grant@homeloanexperts.com.au
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