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ANZ Comparison Rate Calculator  The ANZ Comparison Rate Calculator will provide you with the ability to compare different loans with varying interest rates and fee structures. Q. What is the Comparison Rate?
The Comparison Rate does not include government and statutory fees, these fees are standard regardless of the lender or type of loan. It also doesn't include other fees and charges that are 'event based' and which may or may not apply throughout the term of your loan (for example, redraw fees, or early termination costs). Q. How can I use the Comparison Rate when searching for a home loan? Q. How is the Comparison Rate calculated? Here are two examples :
This can be compared against the Comparison Rate provided for other loan types. Q. What 'Loan Amount' do I enter? Q. If my loan has two interest rate periods, can I use the ANZ Comparison Rate Calculator? Q. What is 'Initial Term' and 'Remaining Term'? 'Remaining Term' is the period once the initial interest rate period (term) has expired. For example, the remaining term for a fixed rate loan commences once the initial fixed rate period has expired and the loan has reverted to the Standard Variable Rate. If you've chosen an ANZ Loan as your loan, the initial term and remaining term are displayed along with the interest rates related to the term. You may wish to overwrite these values if you are aware that you are eligible for a discount because of a special promotion or by negotiation. Q. What is a 'Loan Approval Fee'? When using the Comparison Rate Calculator, be sure to ask your lender about all of the establishment and ongoing fees and include them in the calculation. For the purpose of this calculation you may ignore all government and statutory fees (for example, stamp duty, mortgage registration fees, etc) as these are standard regardless of the lender or loan you choose. You should also ignore any fees and costs not directly associated with obtaining a loan (for example, agent's fees for the purchase of the property, legal fees for the conveyancing of the property) and other fees and charges that are 'event based' and which may or may not apply throughout the term of you loan (for example, redraw fees, or early termination costs). Q. What 'Additional Upfront Fees' might I have to pay? For the purpose of this calculation you may ignore all government and statutory fees, for example, stamp duty and mortgage registration fees, as these are standard regardless of the lender or loan you choose. You should also ignore any fees and costs not directly associated with obtaining the loan (for example, agent's fees for the purchase of the property, or legal fees for the conveyancing of the property) and other fees and charges that are 'event based' and which may or may not apply throughout the term of you loan (for example, redraw fees, or early termination costs). If you have chosen an ANZ Loan, the standard fees and rates associated with the loan are displayed along with the interest rates related to the loan. You may wish to overwrite these values if you are aware that you are eligible for a discount because of a special promotion or by negotiation. Q. What are 'Ongoing Loan Administration Fees'? When using the ANZ Comparison Rate Calculator, be sure to ask lenders about all of their ongoing administration fees and include them in the calculation. If you've chosen an ANZ Loan as your loan, the standard fees and rates associated with the loan are displayed along with the interest rates pertaining to the loan. You may wish to overwrite these values if you are aware that you are eligible for a discount because of a special promotion or by negotiation. Q. What if I am comparing two loans and don't know all the fees payable for one of the loans? Q. Can I compare the Comparison Rate calculated in the ANZ Comparison Rate Calculator with other published rates? Q. How much information do I have to provide to get an indication of the Comparison Rate? The Calculator requires that you enter at least one interest rate. If you do not enter all required information, a red cross Q. Can I enter negative numbers or zeros in the ANZ Comparison Rate Calculator? Please note the Calculator does not accept values expressed in words e.g. 'two thousand dollars' should be expressed as $2,000. Q. Can I calculate my Comparison Rate on an ANZ Personal Loan? |
Comparison Rate (based on monthly repayments)
will appear beside the incomplete field after you have pressed the 'Calculate' button.