What is a Bank Comparison Rate? Does It Affect My Home Loan ?
In short, comparison rates determine what your loan will really cost you. They save you from the hard work required to compare and determine the costs of different loans. However, keep in mind that they shouldn’t be the deciding factor when you search for a loan.
Also, remember that all lenders are required by law to display a comparison rate when they advertise a loan to you. If you pay attention and spot this rate, you may end up getting a better deal on your home loan.