Guide to interest rates

Annual interest rate

Annual interest rate

There are a lot of things you need to research and consider before making any kind of financial decision. One of those is your interest rate.

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Calculate interest on loan

Calculate interest on loan

When you take out a loan, whether it’s a car loan, home loan or amount on a 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?Well, essentially, interest is a fee you pay for using someone else’s (usually the bank’s) money. It’s how lenders make profit from giving out loans – after all, they’re not in it out of the goodness of their hearts.Usually the repayments you make on a loan will be made up of two parts: the part that reduces your balance to pay off your loan, and the part that covers the interest on the loan.

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Fixed interest rate

Fixed interest rate

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.

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Comparison rate

Comparison rate

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? 

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Interest rate news

Compare interest rates and save

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