Interest charged on a $20,000 loan over five years



Interest charged on a $20,000 loan over five years
Type of loan Interest charged
Unsecured variable – average rate of 13.73 $4,514
Unsecured fixed – average rate of 12.82 $4,197
Secured variable – average rate of 10.02 $3,239
Secured fixed – average rate of 9.06 $2,916

Source: mozo.com.au

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