EXAMPLE: A loan of $1,000 for 6 months has fees and charges totalling $440, Maximum APR of 78.18% and total repayments of $1,440. The minimum loan term is 3 month and Maximum loan term is 12 months. The Maximum APR is 78.18%. The Comparison Rate, based on a loan of $1,000 over 6 months, is 138.37%.
WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.