Could a juicy headline rate hide what a borrower will really pay? This short introduction sets the scene for people in New Zealand who are considering borrowing. It explains how interest, fees and account charges combine to shape the total cost. Major banks often calculated interest daily and billed it monthly, so small timing differences […]
Tag Archives: Borrowing costs
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Nov
Nov
Could a single advertised percentage change how lenders view their risk and alter someone’s borrowing power in Canada? This introduction explains how every published number—from a 5‑year fixed at 3.79% or a 5‑year variable at 3.45% shown on Ratehub.ca, to EQ Bank’s 2.75% on a chequing-like account and Oaken Financial’s 2.80% savings—shapes a person’s credit […]