Find the interest rate on a loan or investment, convert between nominal and effective rates, and compare Australian loan comparison rates.
Enter loan/investment details to calculate the implied interest rate.
Convert between nominal and effective annual rates.
| Value |
|---|
| Rate Type | Approx. Rate |
| RBA Cash Rate | ~4.10% p.a. |
| Variable Home Loan (avg) | 6.00–6.50% p.a. |
| 3-year Fixed Home Loan | 5.80–6.20% p.a. |
| Personal Loan (unsecured) | 7.99–19.99% p.a. |
| Car Loan (secured) | 5.99–8.99% p.a. |
| Term Deposit (12-month) | 4.50–5.10% p.a. |
| High-Interest Savings | 4.50–5.50% p.a. |
Indicative rates only. Always compare using the comparison rate.
Interest rates in Australia are influenced by the RBA cash rate and lender credit risk assessments. They come in many forms: advertised rates, comparison rates, nominal rates, and effective rates.
The comparison rate combines the interest rate with most fees and charges into a single annual percentage, making true cost comparisons easier. In Australia, lenders must display the comparison rate alongside the advertised rate for loans above $2,000.
A nominal rate of 6% p.a. compounding monthly produces an effective annual rate (EAR) of (1 + 0.06/12)^12 − 1 = 6.168%. The EAR reflects the true annual cost of borrowing.
Variable rates move with market conditions (usually following RBA decisions). Fixed rates are locked for a set period (1–5 years). Fixed loans may charge significant break costs if you repay early or refinance.