Guide to interest rates

Annual interest rate

Annual interest rate

There are a lot of things you need to research and consider before making any kind of financial decision. One of those is your interest rate.

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Calculate interest on loan

Calculate interest on loan

When you take out a loan, whether it’s a car loan, home loan or amount on a credit card, you’ll have to pay back both the amount you borrowed and interest on top of it. But what do we mean by that?Well, essentially, interest is a fee you pay for using someone else’s (usually the bank’s) money. It’s how lenders make profit from giving out loans – after all, they’re not in it out of the goodness of their hearts.Usually the repayments you make on a loan will be made up of two parts: the part that reduces your balance to pay off your loan, and the part that covers the interest on the loan.

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Fixed interest rate

Fixed interest rate

The flip side of variable interest rates, fixed interest rates are one of the two main types of interest you’ll come across when choosing a loan or bank account.

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Variable interest rate

Variable interest rate

Mozo has compiled this handy guide to give you the rundown on the facts, features, pros and cons of variable interest rates.

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What is a comparison rate? | Mozo

What is a comparison rate? | Mozo

You’ve probably seen it beside the interest rate when shopping around for loans, but just what do we mean by comparison rate and how does it help you? 

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Compound interest calculator

Compound interest calculator

Got a nice rainy day fund built up? Give it an extra boost with compound interest.

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What are interest rates?

What are interest rates?

Good question. An interest rate is a fee you're charged for borrowing money, expressed as a percentage of the total amount of the loan.

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Interest rate news

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