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Save thousands by moving away from banks

08/02/2010

A typical consumer could save more than $4,000 per year by switching all their banking products and services from the most expensive providers to the cheapest.

The Infochoice research found that generally Westpac was the most expensive for a consumer with a mortgage, car loan, savings of around $10,000 and a $3,000 credit card debt. NAB was the cheapest of the big banks but even NAB customers could save $4,000 by switching to cheaper non-bank competitors.

The four cheapest mortgage providers are Select Credit Union, HomeStar, Ratebusters and State Custodians Mortgage Company according to Shaun Cornelius, CEO of infochoice.

Source: Sunday Telegraph



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