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About Allica Bank
What is the breakage charge?
A breakage charge is a potential cost passed on to you by Allica if you repay your fixed rate loan agreement earlier than the end of the original agreed fixed rate period.
This may apply if both the following happen:
- You choose to repay your loan early or make a payment above the permitted yearly overpayment allowance; and
- Swap market interest rates have fallen since you agreed the loan.
Find out more about breakage costs here.