Personal Loan Interest Rates versus Comparison Interest Rates
Please read this explanatory note carefully.
a) Annual Percentage Rate (APR)
The top row of the two tables below show our secured and unsecured personal loan interest rate, as an annual
percentage interest rate (APR).
Caution: Only use
the APR in the loan repayment calculator.
b) Comparison Interest
Rate (CIR)
The Comparison Interest Rate (CIR)
measures
the APR plus the interest rate impact of the loan's associated on-costs.
The CIR is shown in the shaded areas in the two tables below.
Example -
A $10,000 4
year secured personal loan may have an Annual Percentage Rate (APR)
of 9.650% p.a. After including all the loan costs, the CIR is 11.15%
p.a.
|
Effective from 14th November 2008
|
|
Table 1: Secured Personal
Loan Rates
|
|
|
|
Annual Percentage Rate (%pa) APR |
8.90% |
10.40% |
12.40% |
13.90% |
|
Loan Amount |
Loan Term |
|
|
|
|
|
|
$2,000 |
2 yrs |
CIR (%pa) |
25.59% |
27.21% |
29.35% |
29.89% |
|
$5,000 |
3 yrs |
CIR (%pa) |
13.61% |
15.15% |
17.21% |
17.72% |
%
|
$10,000 |
4 yrs |
CIR (%pa) |
10.72% |
11.91% |
13.94% |
14.45% |
|
$15,000 |
5 yrs |
CIR (%pa) |
9.90% |
11.41% |
13.43% |
13.94% |
|
$20,000 |
5 yrs |
CIR (%pa) |
9.65% |
11.16% |
13.17% |
13.68% |
|
$25,000 |
5 yrs |
CIR (%pa) |
9.50% |
11.01% |
13.02% |
13.52% |
|
$30,000 |
5 yrs |
CIR (%pa) |
9.40% |
10.91% |
12.92% |
13.42% |
| |
|
Table 2: Unsecured
Personal Loan Interest Rates |
|
|
|
Annual Percentage Rate (%pa) APR |
13.90% |
14.90% |
15.90% |
|
Loan Amount |
Loan Term |
|
|
|
|
|
$2,000 |
2 yrs |
CIR (%pa) |
30.96% |
32.03% |
33.11% |
|
$5,000 |
3 yrs |
CIR (%pa) |
18.75% |
19.78% |
20.81% |
Warning: These comparison rates only apply to the examples given when monthly repayments are
made..Different amounts and terms will result in different comparison rates.
Other factors such as security fees, redraw fees,
Consumer Credit Insurance, Lenders Mortgage Insurance and costs savings such as fee waivers are not included in the comparison
rate but may influence the cost of the loan.
For further information on our loans, please call 90216444.
|
|
