9 Ways You Could Be Wasting Money

Sometimes it can feel like you’re doing everything right, but still not seeing results. Benjamin Franklin said, “a small leak will sink a great ship” [...]

POSTED ON June 18, 2019
Aussies trust their bank, but not the internet

Australians are more concerned about identity theft and fraud than ever before, especially when using online services. But the level of trust in financial institutions [...]

POSTED ON October 10, 2013
First home buyers save for two years

83 per cent of first home buyers are prepared to sacrifice their lifestyle in order to purchase their first property. Most first home buyers plan [...]

POSTED ON October 9, 2013
What to look for in a savings account

Finding the right deposit product to help you save towards a goal can be tricky. Claire Mackay, financial planner at Quantum Financial said: “For a [...]

POSTED ON October 9, 2013
Inactive bank accounts seized by government

The government has collected more than $400 million in unclaimed money from inactive bank accounts this year. $85 million is money owned by account holders [...]

POSTED ON October 8, 2013
How much do you need to save for Christmas?

Australians racked up more than $22.5 billion on credit cards in the lead-up to Christmas last year and took out a further $757 million in [...]

POSTED ON October 2, 2013
Term deposits can work for you

Term deposits are simple savings accounts offered by banks, building societies and credit unions that pay a fixed rate of interest for a given term [...]

POSTED ON September 27, 2013
Banks not as popular with high income earners

High-income earners are fussy when it comes to rating the performance of their banks. While overall customer satisfaction with the big banks is at its [...]

POSTED ON September 26, 2013
Shop around for a fee-free bank account

There is no need for anyone to be paying monthly fees or even transaction fees on their everyday transaction bank account. All banks have no-fee [...]

POSTED ON September 25, 2013
NAB has term deposits rates up to 4.5%

National Australia Bank is currently paying up to 4.50 per cent per annum for five year term deposits with interest paid annually. For interest paid [...]

POSTED ON September 20, 2013
Car loans under 7%

Right now People’s Choice Credit Union has car loan rates starting from 6.64 per cent (comparison rate 6.99 per cent). There are no monthly account [...]

POSTED ON September 20, 2013
A home loan that earns frequent flyer points

Macquarie Bank Flyer Home Loan offers 10,000 Qantas frequent flyer points at settlement and each month of the loan. Every $100,000 drawn down at settlement [...]

POSTED ON September 20, 2013
ASIC warns SMSF home loan borrowers about poor adv

The Australian Securities and Investments Commission has highlighted borrowing as a concern in a review of advice to trustees of self-managed funds. ASIC has said [...]

POSTED ON September 18, 2013
NAB warns customers of new email scam

National Australia Bank is warning customers about a new email scam which claims that access to their accounts is restricted. The email advises customers to [...]

POSTED ON September 17, 2013
Redeem CommBank Awards card points at Myer

Commonwealth Bank Awards credit card customers can get instant redemption of rewards points in-store at Myer. Awards points can be used to purchase merchandise using [...]

POSTED ON September 17, 2013
Compare your mortgage and save $48K

To save $48,000, check the interest rate on your home loan shop around for a better one. On the national average loan of $300,000 the [...]

POSTED ON September 16, 2013
Westpac is building an invisible bank

Westpac is spending $2 billion on technology to create an invisible bank - so seamlessly integrated with our everyday activities that we forget they're even [...]

POSTED ON September 13, 2013
New credit reports will record late payments

Steve Brown, head of the consumer credit bureau at Dun & Bradstreet, says under the new credit reporting regime which will start in March 2014, [...]

POSTED ON September 12, 2013
Four Golden Mortgage Rules

To get a good mortgage and pay it off as quickly as possible follow these rules:1. Never borrow more an amount that requires your repayments [...]

POSTED ON September 10, 2013
WA savers like P&N Bank

P&N Bank has not skipped a beat since changing its name from Police & Nurses Credit union in March, according to its acting chief executive, [...]

POSTED ON September 5, 2013
Watch out for bank account fees

When choosing a transaction or savings account it is important to understand the terms and conditions. For example, an account may have fee-free ATM withdrawals [...]

POSTED ON September 4, 2013
The key to choosing a good bank account

The key to choosing any kind of financial product is making sure you understand your needs, and your financial situation, before you apply for anything.The [...]

POSTED ON September 4, 2013
Markets bet on no more RBA rate cuts

The Reserve Bank of Australia left official rates at the historically low level of 2.5 per cent yesterday. Some economists are predicting that the RBA [...]

POSTED ON September 4, 2013
You can get value from card rewards

The benefits of credit card rewards programmes can easily outweigh the costs, especially if you are a reasonably big spender and can manage spending with [...]

POSTED ON September 2, 2013
Term deposit tricks and traps

Savers rolling over term deposits need to ensure that they are getting the best rates available. Banks offer different rates for different terms, creating a [...]

POSTED ON August 26, 2013
Young people looking at property investment

Young people are becoming more aware of the benefits of buying property for investment, according to a big new survey. 74.7 per cent of Gen [...]

POSTED ON August 19, 2013
Cards taking over from cash

Paying for goods with cash may soon be a thing of the past. 81.1 per cent of all transactions in 2012/13 used cards rather than [...]

POSTED ON August 16, 2013
Aussies like the August rate cut

The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.5 per cent in August and is now 9.4 per cent higher than a year ago. [...]

POSTED ON August 15, 2013
Aussie cuts rate across the board

Aussie Home Loans has cut its two-year fixed rate by 0.25 per cent to 4.64 per cent per annum. Aussie has also cut three-year fixed [...]

POSTED ON August 14, 2013
ANZ cuts rates by 0.25%

ANZ announced it will lower interest rates for variable rate mortgages by 0.25 per cent per annum, effective Friday 16 August. That will take ANZ’s [...]

POSTED ON August 12, 2013
More households have a mortgage

The Household Income and Distribution Survey from the Australian Bureau of Statistics shows that 36.6 per cent of households had a mortgage compared with 30.9 [...]

POSTED ON August 9, 2013
Lenders respond to the RBA rate cut

Rates have hit a record low as the RBA decided to cut the cash rate 0.25% to 2.50% on Tuesday. It also marks the 8th [...]

POSTED ON August 8, 2013
Westpac cuts rates by more than the RBA

Westpac announced it will reduce its standard variable mortgage rate by 0.28 per cent per annum to 5.98 per cent per annum. The new rate [...]

POSTED ON August 7, 2013
Saving a deposit still hard for first homebuyers

For people looking to enter the property market, housing affordability and saving for a deposit remain the biggest barriers to homeownership according to the Genworth [...]

POSTED ON August 2, 2013
Home loan borrowers like Suncorp Bank, HSBC & AMP

Suncorp Bank has overtaken ING Direct as Australia's fifth largest home lender according to the latest Australian Prudential Regulation Authority bank statistics. Suncorp Bank has [...]

POSTED ON August 1, 2013
RBA says rates will remain low

Glenn Stevens, governor of the Reserve Bank of Australia, gave a strong indication yesterday that official interest rates are set to remain at historically low [...]

POSTED ON July 31, 2013
90% chance of an August rate cut

Financial markets are pricing the chances of an interest rate cut next week at about 90 per cent, up from 76 per cent on Tuesday [...]

POSTED ON July 31, 2013
Save money on your credit card

There are plenty of ways to save more money by ensuring you have the best credit card arrangements for your own situation.Check the purchase and [...]

POSTED ON July 29, 2013
August rate cut back on the cards

The chances of an August interest rate cut have increased after inflation figures released yesterday showed the economy struggling to grow.Tradables inflation was just 0.3 [...]

POSTED ON July 25, 2013
Community CPS group to become a bank

South Australia's Community CPS credit union is to become a mutual bank. Community CPS projected that "we'll be able to attract funds from more organisations, [...]

POSTED ON July 24, 2013
Fixed rates continue to fall

This year lenders have been fighting for market share by offering ever lower fixed rates. According to InfoChoice, during the June quarter 61 lenders cut [...]

POSTED ON July 22, 2013
Mortgage Wars fire up: Credit unions vs banks

The average credit union, mutual bank and building society standard variable mortgage rate is 5.75 per cent according to the Customer Owned Banking Association, which, [...]

POSTED ON July 18, 2013
The door is open to more rate cuts

Commonwealth Securities chief economist Craig James said the RBA is leaving the door open to a further rate cut but "it is by no means [...]

POSTED ON July 17, 2013
Home lending market is growing

The number of loans for the construction and purchase of new owner-occupied homes rose by 0.6 per cent in May, up 18.1 per cent than [...]

POSTED ON July 16, 2013
Revealed: The reasons why Aussies switch lenders

The CUA National Mortgage Survey conducted by Auspoll reveals the main reasons why mortgage holders consider switching to another lender. 81 per cent of borrowers [...]

POSTED ON July 12, 2013
Aussies look to fix their rates

36 per cent of Australians who currently have a variable rate mortgage are planning to fix their mortgage rate in the future, according to the [...]

POSTED ON July 12, 2013
Aussies to put tax returns savings

35.6 per cent of Australians will use their tax refund to pay off debt according to new research from Bankwest while 31.5 per cent will [...]

POSTED ON July 11, 2013
Stevens hints at future rate cuts

Futures markets are now pricing the chance of the Reserve Bank cutting official interest rates in August at about 60 per cent, up from 47 [...]

POSTED ON July 4, 2013
Kids can get over 6% on savings

Children’s savings accounts have healthier interest than standard savings accounts.Suncorp executive manager of deposits Craig Fenwick says there are a growing number of children's savings [...]

POSTED ON July 3, 2013
One quarter want to switch home loans

Nearly one quarter of Australian mortgage holders are looking around for cheap mortgage products and considering refinancing their current loan according to a recent survey [...]

POSTED ON June 27, 2013
Bank customers are happy with their banks

Lower interest rates are improving consumers' satisfaction with their banks. Roy Morgan Research said that satisfaction with the big banks increased to a 17-year high [...]

POSTED ON June 27, 2013
Credit unions have cheaper home loan fees

Home loan fees are about $300 lower, over three years, on mortgages offered by credit unions and building societies compared with the major banks. According [...]

POSTED ON June 27, 2013
The big decision: variable vs fixed rates

Home loan borrowers must decide between a variable rate loan or a fixed rate mortgage. Neither is free of risk. If you fix your mortgage [...]

POSTED ON June 24, 2013
Bank fees on savings accounts plummeting

The Reserve Bank of Australia reported that bank income from fees on deposits fell in 2012, partly because of a shift in savings to term [...]

POSTED ON June 21, 2013
Lenders waiving mortgage fees

Mortgage fees went down, on average in 2012 after rising 6.5 per cent from 2006 to 2011 according to the Reserve Bank of Australia.Banks earned [...]

POSTED ON June 21, 2013
Savers benefit from delayed rate cuts

Banks are much quicker to pass on rate rises than rate cuts. Since 2008, banks have taken an average of 10 days to pass on [...]

POSTED ON June 19, 2013
Time to check your loans, accounts and cards

The new financial year is approaching so time is ripe to assess your finances and banking products. Look at your financial progress over the past [...]

POSTED ON June 18, 2013
Cards are taking over from cash

The amount of cash withdrawn on debit and credit cards in the last 12 months was less than the total spent on debit cards, for [...]

POSTED ON June 17, 2013
Credit card rates range from under 10% to 25%

More and more Aussies are using their own money to make purchases rather than going in to debt said CommSec chief economist Craig James.However many [...]

POSTED ON June 17, 2013
Record fall in credit card debt

Aussies spend $6.16 billion on credit card interest. Most cardholders are paying about 17.15 per cent per annum on debt collected on our credit cards. [...]

POSTED ON June 17, 2013
Big loans can get big discount rates

Banks are favouring loan applications from wealthier borrowers and being very choosy about who they lend to since the global financial crisis and new responsible [...]

POSTED ON June 13, 2013
Young Aussies check their account all the time

The vast majority of young and middle aged Australians prefer to do their banking online according to Bankwest’s latest online transactions report. Among older generations [...]

POSTED ON June 12, 2013
RAMS targets first home buyers

RAMS Chief Executive, Melos Sulicich predicted an increasing number of first home buyers will be looking to enter the property market. As a specialist home [...]

POSTED ON June 7, 2013
Phone & branch banking still popular

Phone banking is showing some endurance as a banking channel, data compiled by Roy Morgan Research shows.In its State of the Nation report, Roy Morgan [...]

POSTED ON June 5, 2013
Deposits flow out as rates fall

Growth in household deposits is slowing, as savers move their money out of at-call and term deposits in search of higher rates. Some deposit-taking institutions [...]

POSTED ON June 4, 2013
Nine credit unions are now banks

Since 2011, when the Australian Prudential Regulation Authority approved the use of the name "mutual bank" for mutuals with minimum capital of A$50 million, bankmecu, [...]

POSTED ON May 31, 2013
BankVic replaces Police Credit

Australia's ninth mutual bank opens its doors for business. The new mutual bank is BankVic, formerly Police Credit. BankVic has written to members reassuring them [...]

POSTED ON May 31, 2013
Dozens of lenders cutting fixed rates

Dozens of lenders are slashing their fixed rates by more than May’s RBA cash rate cut.Eleven lenders have cut their fixed rates on two-year loans [...]

POSTED ON May 30, 2013
Aussies love Tap N Go and PayWave

Demand in Australia for contactless card payments continues to strengthen. There are now between 100,000 and 200,000 contactless-capable terminals deployed nationally.Matt Barr, regional head of [...]

POSTED ON May 28, 2013
Demand for fixed rates rising as rates fall

Demand for fixed rates is rising, according to research by Loan Market. Since the Reserve Bank of Australia’s May rate cut, 40 per cent of [...]

POSTED ON May 24, 2013
NAB sees mild recovery in housing

The National Australia Bank's latest housing market outlook shows a mild upturn is likely in house construction in 2007/08. The bank's economists said the recovery [...]

POSTED ON November 8, 2006
Australia enters new housing cycle

John Edwards, chief executive of Residex said of current property price trends: "We are at the end of a normal housing cycle and at the [...]

POSTED ON November 7, 2006
Lenders hide mortgagee sales

Lenders often instruct real estate agents to withhold the fact that a house sale is a mortgagee sale, ABC Radio reported in a portrait of [...]

POSTED ON November 7, 2006
Mortgages a loss-maker for some lenders

Adelaide Bank said other lenders were selling home loans at increasingly fine margins, with some sold at an economic loss. Adelaide Bank said it would [...]

POSTED ON November 6, 2006
AFG sees shift in demand

There's some early, though selective, evidence that October was a poorer than expected month for many lenders. The average size of home loans brokered by [...]

POSTED ON November 3, 2006
Mortgage Connect aims for 130 territories

St George Bank said the size of new home loans sourced through the branch network and direct marketing increased by 15 per cent in 2006 [...]

POSTED ON November 2, 2006
St George embraces flat fee accounts

St George Bank will begin marketing for a revamped suite of transaction accounts in a couple of weeks, with all the product initiatives around Visa [...]

POSTED ON November 2, 2006
Aid for HLP and Lawteal from Mobius

Mobius Financial Services is sourcing a little more than 50 per cent of business under its white-label program with mortgage managers; a third from funding [...]

POSTED ON November 1, 2006
CBA takes token approach to internet security

Commonwealth Bank settled on a mix of SMS and tokens as the bank's preferred mechanism for "two factor authentication" of some internet banking transactions. Bank [...]

POSTED ON October 31, 2006