Frequently Asked Questions

What's in it for Check My Rate?

We are paid a commission for handling your loan. This commission is not passed on to yourselves in any way & the product you receive through Check My Rate is identical to the product you receive at the branch.

Then why use Check My Rate?

Because Check My Rate is offering a free service designed to save people money that the banks would NEVER offer (as it effectively costs them money). So in order to keep Check My Rates free service running & to 'keep the banks honest' we ask that you allow us to organize your new rate.

Any other advantages?

Other advantages in using Check My Rate are:

1. We will handle all the paperwork & correspond with the bank on your behalf.
2. We will keep you up to date when the RBA (Reserve Bank of Australia) changes interest rates.
3. We can offer advice on whether to fix your loan or leave it variable.

Why don't the banks call us to let us know about this?

The banks aren't going to give you a call to tell you how to save money (and in effect cost them money). So they leave it up to us to offer this service to allow clients to make sure they have the best possible rate.

Why do the banks let you do this?

It costs lenders a lot of money to find clients and it is far easier and cheaper to keep existing clients happy than finding new ones. So rather than see clients walk out the door, the lenders are happy for us to show you how to get a better rate in order for them to keep your business.

See how much you can save by getting a better rate with your current bank