Maximum Permissible Interest Rate MPIR - 1st July 2021

What is a RAD , DAP and MPIR ?

When you begin researching residential aged care, you will come across three acronyms relating to the price of residential aged care, that are essential to understand.

  • The Refundable Accommodation Deposit (RAD), is a standard room price set by the respective aged care facility.
  • The Daily Accommodation Payment (DAP) is the RAD equivalent paid periodically.
  • The Maximum Permissible Interest Rate (MPIR) is the current interest rate used to calculate DAP on a specific RAD value. The current MPIR from 1st April 2021 is 4.01 % pa.

The RAD and DAP is determined on the quality, location and features of the accommodation and can vary from bed to bed.

If a facility wants to charge more than $550,000 for their RAD, they need to seek approval from the Aged Care Pricing Commissioner.

The DAP is calculated by multiplying the determined RAD by the current government interest rate (MPIR) and divided by the number of days in that year.

Aged Care Providers must display their accommodation prices in both RAD and DAP figures prior to charging their clients.

From the day of entering care, the new resident has 28 days to work out whether they want to pay the facility a lump sum, daily payment or some combination of the two.

Under the Living Longer, Living Better reforms, the resident must be left with a minimum asset value of 2.25 times the basic age pension at the time of entry.

That sum is subject to quarterly change, but currently it means a resident must be left with at least $51,000 if they choose to pay for their accommodation in full.

The introduction of the RAD and DAP was predicted to increase marketplace competition and broaden consumer choice.

Alongside the introduction of the RAD and DAP, a means test measuring a combination of assets and income determines how much the government will contribute to a person’s accommodation.

A person’s home is considered a part of their assets, unless a spouse or relative still lives there.

RAD / DAP Calculator

RAD / DAP Calculator - effective 1st July 2021

        Select RAD Amount: $

Use the slider to enter the lump sum of the RAD
to calculate the DAP to be paid.


        Lump Sum of RAD Paid : $

DAP Payment:$20.20 per day

Contact Us for more information.

Current interest rate (MPIR) is: 4.04 % pa (effective 1st July 2021)

Make sure you have all the current information about Aged Care Fees, RADs and DAPs MPIR - we have saved families hundreds of thousands of dollars relating to accommodation payments

Maximum Permissible Interest Rate (MPIR) - Current at 1st July 2021

MPIR Chart
Period MPIR
1/7/2021 to 30/09/20214.04%
1/4/2021 to 30/06/20214.01%
1/1/2021 to 31/03/20214.02%
1/7/2020 to 31/12/20204.10%
1/4/2020 to 30/6/20204.89%
1/1/2020 to 31/3/20204.91%
1/10/2019 to 31/12/20194.98%
1/08/2019 to 30/9/20195.54%
1/07/2019 to 31/7/20195.54%
1/04/2019 to 30/6/20195.96%
1/01/2019 to 31/03/20195.94%
1/10/2018 to 31/12/20185.96%
1/07/2018 to 30/09/20185.96%
1/04/2018 to 30/06/20185.77%
1/01/2018 to 31/03/20185.72%
1/10/2017 to 31/12/20175.70%
1/07/2017 to 30/09/20175.73%
1/04/2017 to 30/06/20175.78%
1/01/2017 to 31/03/20175.76%
1/10/2016 to 31/12/20165.76%
1/7/2016 to 30/09/20166.01%
1/04/2016 to 30/06/20166.28%
1/01/2016 to 31/03/20166.22%
1/10/2015 to 31/12/20156.14%
1/07/2015 to 30/09/20156.15%
1/04/2015 to 30/06/20156.36%
1/01/2015 to 31/03/20156.75%
1/10/2014 to 31/12/20146.63%
1/07/2014 to 30/09/20146.69%
1/04/2014 to 30/06/20146.63%
1/01/2014 to 31/03/20146.59%
1/12/2013 to 31/12/20136.60%
1/10/2013 to 30/11/20136.60%
1/07/2013 to 30/09/20136.82%
1/04/2013 to 30/06/20136.95%
1/01/2013 to 31/03/20137.24%
1/10/2012 to 31/12/20127.62%
1/07/2012 to 30/09/20127.66%
1/04/2012 to 30/06/20128.37%
1/01/2012 to 31/03/20128.62%
1/10/2011 to 31/12/20118.86%
1/07/2011 to 30/09/20119.00%
1/04/2011 to 30/06/20118.92%
1/01/2011 to 31/03/20119.02%
1/10/2010 to 31/12/20108.74%
1/07/2010 to 30/09/20108.80%
1/04/2010 to 30/06/20108.16%
1/01/2010 to 31/03/20107.95%
1/10/2009 to 31/12/20097.30%
1/07/2009 to 30/09/20097.13%
1/04/2009 to 30/06/20097.16%
1/01/2009 to 31/03/20098.76%
17/11/2008 to 31/12/200811.31%
1/10/2008 to 16/11/200811.31%
1/07/2008 to 30/09/200811.75%
1/04/2008 to 30/06/200811.69%
1/01/2008 to 31/03/200811.15%
1/10/2007 to 31/12/200710.75%
1/07/2007 to 30/09/200710.37%
1/04/2007 to 30/06/200710.37%
1/01/2007 to 31/03/200710.37%
1/10/2006 to 31/12/200610.19%
1/07/2006 to 30/09/20069.87%

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Our Residential Care Placement Partners

Over many years, the Senior Moves placement team has worked with a wide range of residential aged care providers, including aged care homes :

  • located in all States and Territories.
  • Not-For-Profit (NFP) and Private Sector.
  • ASX listed providers with large numbers of aged care homes to Single family-owned aged care homes.
  • Homes that specialise in dementia care.
  • Homes that specialise in care for younger persons.
  • Homes with greater than 150 residents.
  • Smaller Homes with around 50 residents and with a community feel.
  • Homes that focus on specific cultural and ethnic backgrounds.
  • Homes that focus on specific religious and faith-based needs.
  • Homes that focus on low means and financially disadvantaged residents.
  • Homes that are LGBTIQ friendly.

This accumulated experience and detailed knowledge means that we can perfectly match the aged care home to your family care needs, location requirements, financial situation and personal preferences.

Allity Aged Care ACH Group Aged Care Aegis Aged Care
Allity Aged Care Abberfield Aged Care Arcare Aged Care
Aurrum Aged Care Australian Unity Aged Care Basscare Aged Care
Benetas Aged Care Blue Care Aged Care Bolton Clarke Aged Care
Brotherhood of St Laurence Aged Care Bupa Aged Care Carinity Aged Care
Churches of Christ Aged Care Deloraine Aged Care Donwood Aged Care
Doutta Galla Aged Care Estia Health Aged Care Fairmont Aged Care
Feros Aged Care Freedom Aged Care Freemasons Aged Care
Hammondcare Aged Care Helping Hand Aged Care Hope Aged Care
IRT Aged Care Japara Aged Care Lynden Aged Care
Javadale Bethel Aged Care Anzac Lodge
Manor Court Aged Care Mayflower Aged Care Mc Kenzie Aged Care
Mecwacare Aged Care Medical and Aged Care Group Menarock Life Aged Care
Mercy Health Aged Care Micare Aged Care Napier Street Aged Care
Opal Aged Care Catholic Health Care Aged Care RSL Lifecare Aged Care
Country Heath SA Aged Care Calvary Aged Care Amana Living Aged Care
Eldercare Aged Care Ozcare Aged Care Resthaven Aged Care
Thompson Health Care Aged Care Villa Maria Catholic Homes Aged Care Brightwater Care Group
Lutheran Aged Care Wintringham Aged Care Blue Cross Aged Care
Regis Aged Care Rockpool Aged Care Salvation Army Aged Care
Seasons Aged Care Southern Cross Care Aged Care The Alexander Aged Care
TLC Aged Care Tricare Aged Care Trinity Aged Care
Uniting Age Well Aged Care Uniting Aged Care Vermont Aged Care
Village Glen Aged Care Homestyle Glen Aged Care Whiddon Group Aged Care