Display comparison rate on credit product advertising
Annual percentage + comparison rate must accompany credit product ads under NCCP Regulations.
Who must comply
Credit providers + brokers advertising credit products.
What triggers it
Advertising a credit product.
When due
Continuous.
Evidence required
Advertising approvals; comparison rate calculations; archived ads.
Max penalty
Civil penalties under NCCP + misleading conduct under ACL
Summary
NCCP Regulations require credit providers + brokers to display the comparison rate (calculated using prescribed formula) alongside any advertised credit product. The rate gives consumers a like-for-like comparison including fees.
Enforced by
Source legislation
Industries
Topics
Related obligations
- CWLTHComply with NCCP responsible lending obligationsCredit licensees must not enter into credit contracts unsuitable for the consumer.
- CWLTHMortgage broker best interests dutyBrokers must act in the consumer's best interests when providing credit assistance.
- CWLTHBNPL providers — credit licensing from 10 June 2025BNPL captured by the NCCP Act as a regulated credit product from 10 June 2025.
- CWLTHConsumer Credit Hardship Notice (NCC ss 72-73)Credit providers must respond to hardship notice + assess variation request.
- CWLTHSmall Amount Credit Contract + Consumer Lease caps (post-SACC reforms)SACC + consumer lease fee caps + responsible lending tightened post-Royal Commission.
- CWLTHCosmetic surgery advertising standards (Medical Board reforms 2024-2025)Stricter cosmetic surgery + procedure advertising from 2024 — bans on idealised body imagery + before/after misuse.
Frequently asked questions
- Who must comply with comparison rate on credit product advertising?
- Credit providers + brokers advertising credit products.
- What triggers comparison rate on credit product advertising?
- Advertising a credit product.
- When is comparison rate on credit product advertising due?
- Continuous.
- What is the maximum penalty for comparison rate on credit product advertising?
- Civil penalties under NCCP + misleading conduct under ACL
- What evidence is required for comparison rate on credit product advertising?
- Advertising approvals; comparison rate calculations; archived ads.
Source: https://asic.gov.au/regulatory-resources/credit/. Rules Mate is not a law firm. Always verify against the live regulator source before acting.