Checking your home loan interest rate may allow you to determine if better deals are available elsewhere through refinancing your current home loan. This could allow you to potentially save thousands on interest expenses and fees over the life of your home loan.
Here are four quick ways to find the interest rate on your home loan:
Checking your lender's list of rates through their online resources.
Checking your mortgage statement.
Logging into either your online banking or mobile banking platform available from your lender.
Picking up the phone and calling the lender directly.
It's also worthwhile checking your comparison rate, because that gives an indication as to the fees you're paying. A high comparison rate usually means you are paying a lot of fees, which might have increased and you haven't yet noticed.