Personal Loans Glossary Of Terms
Please note that these are a general explanation of the meaning of terms used in relation to personal loans.
The wording of loan terms and conditions may use different phrases or terms, and you should read the terms and conditions of the relevant loan to understand the features and cost of that loan. You cannot rely on these terms to the part of any loan you may purchase.
Refer to the product disclosure statement (PDS) and Canstar’s Financial Services and Credit Guide (FSCG).
What is an Account-keeping fee or ongoing fee?
Account-keeping fee or ongoing fee is a monthly account-keeping fee that is charged by the lender to help cover the administration cost of maintaining the line of credit. Alternatively, you may be charged an annual fee rather than an ongoing account-keeping fee.
What is an Advertised rate?
An Advertised rate is the interest