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Beyond the headline rate
True Cost of Capital
A lower headline rate with heavier fees often costs more than a higher one. Enter the rate plus establishment, line, brokerage and exit fees — see the effective annual rate and total cost over the term.
$
months
% p.a.
The rate the facility is advertised at.
%
Of the loan amount.
%
Of the loan amount, if applicable.
% p.a.
Annual fee on the facility, if any.
$
Flat fee on repayment.
Effective annual rate
11.78%
Headline is 8.95% — fees add 2.83% a year.
Interest at 8.95%$134,250
Establishment fee$22,500
Brokerage / advisory$15,000
Exit / discharge fee$5,000
Total fees$42,500
Total cost over term$176,750
Headline rate8.95%
Effective annual rate11.78%
Fees lift the real cost by 2.83% a year over a 12-month term. A facility quoting a higher headline with lighter fees can easily be cheaper — compare on this number, not the rate.
Assumptions & method
- Interest is modelled interest-only on the full balance — typical for short non-bank facilities. Amortising loans will differ.
- Effective annual rate = total cost ÷ loan ÷ (term in years). It is a cost ratio, not a regulated comparison rate (which uses a fixed ASIC reference loan).
- Government charges (stamp duty, registration) are excluded — they are not a cost of the facility itself.
- Indicative only. Confirm the full fee schedule with the lender before comparing offers.
Beyond the numbers
A number is a starting point, not an answer
These tools model the mechanics. The decision depends on structure, timing and the specifics of your scenario — that's the conversation worth having.