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Warning: We may change the interest rate on this loan. This means the cost of your monthly repayments may increase or decrease. |
What do we consider when setting our variable interest rates?
This section must include the following information:
- the factors and criteria that the regulated entity uses in making a decision on the setting or changing of the variable interest rate. For example, where factors and criteria such as credit risk, cost of funds, operational costs, regulatory requirements, competitive position and environment, profitability and business strategy are relevant they must be included in this explanation in a manner that seeks to explain these factors and criteria in an informative and non-technical manner; and
- a statement outlining that variations/changes in the factors and criteria stated under this heading could result in changes to the variable interest rate.
How do we make decisions when setting variable interest rates?
This section must include informat
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