
14/09/2022
Residential Aged Care Fees - RAD Interest Rate Increasing
The Maximum Permissible Interest Rate (MPIR) will increase to 6.31% pa on 1st October 2022
Only a few months back the MPIR was 4.07%, so this is a major increase in resident fees. For a standard RAD of $500k, the equivalent DAP will be $86.44 per day, which represents a yearly increase of $11,150 or +55% since June 2022.
More details at : http://agedcareconnect.com.au/rad-interest-rate-mpir-dap.php