Why is the rate of my top-up loan different from the rate of my initial loan?

• When you take out a “borrow more” loan (also known as a top-up loan), the interest rate and APR on your new loan may differ from those on your existing loan.

  This is because we apply a blended interest rate — a combination of:

  • The interest rate from your existing loan

  • Our current representative APR

  This new, blended rate applies to the entire balance of your new loan — which includes:

  • The amount used to repay your existing loan, and

  • The additional amount you’re borrowing (the “Top Up”)

  As a result, the interest rate on your new loan may be higher or lower than before, depending on current market conditions and your updated profile.

  Your new quote and loan agreement will clearly show the updated rate and repayment terms.

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