RATES
Understand the rate before you act
Rates can determine the cost of borrowing or the reward associated with eligible savings and investment products.
Rates are product-specific
A rate is meaningful only when you also know what product it applies to, how long it applies, how interest is calculated, whether fees apply and what conditions must be met.
For savings, a stated annual rate does not by itself tell you the exact reward on every plan; amount, duration, calculation method and plan terms matter.
For loans, the rate should be considered together with fees, repayment frequency, term and total repayment.
Current-rate principleDo not rely on a historical or illustrative rate. The applicable rate should be the rate displayed for the specific product at the time of confirmation.
Read the full terms.A number without its conditions can give an incomplete picture.
RATE CATEGORIES