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When looking for a loan, obviously the interest rate is important. But other loan costs also need to be considered. Costs associated with setting up the loan, the loan approval fee and any other up-front or ongoing fees also need to be factored in.
That's where comparison rates can help. They've been calculated based on a standard set of criteria so right from the start you have a better understanding of the cost of a loan. As a result, it is easier for you to compare loans and their costs.
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