What does the comparison rate mean?

A comparison rate is a rate that helps you work out the true cost of a loan. It provides a single interest rate that is inclusive of interest and most fees and charges of the loan. The comparison rate allows you to then compare loans from different lenders to find out how much it will cost you, If you would like more information, please visit: https://www.moneysmart.gov.au/borrowing-and-credit/home-loans/interest-rates/comparison-rates

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