Guide to interest rates

If we had things our way, the world of finance would be a simple and easy place. Unfortunately, there are a lot of things you need to research and consider before making a move with your money. One of those is your interest rate. But wait - there are different sorts of interest rates, and it’s important you get them straightened out when you’re looking for the most competitive deal.

When you take out a loan, whether it’s a car loan, home loan or credit card, you’ll have to pay back both the amount you borrowed and interest on top of it. But what do we mean by that?

The flip side of variable interest rates, fixed interest rates are one of the two main types of interest you’ll come across when choosing a loan or bank account.

Even if you’ve only dipped a toe into the financial world so far, you’ve probably come across the term ‘variable interest rate’. It’s one of the most popular types of home loan rates and is available on just about any banking product you can think of.

You’ve probably seen it beside the interest rate when shopping around for loans, but just what do we mean by comparison rate and how does it help you? 

Got a nice rainy day fund built up? It might look even nicer with the effects of compound interest. If you’re wondering how much you’re earning thanks to your compounding interest payments - or how much you might be with the right savings account - then read on for a rundown of how to work it out.

Good question. An interest rate is a fee you're charged for borrowing money, expressed as a percentage of the total amount of the loan.

All in this week’s best banking news: editor’s pick. 

All in this week’s best banking news recap: editor’s pick. 

All in this week’s best banking news: editor’s pick. 

All in this week’s best banking news: editor’s pick.