Which bank has the best term deposit rates?

If you’re thinking about opening a term deposit account to help you to achieve your savings goals then it’s important that you choose and open [...]

POSTED ON September 30, 2019
Business slugged higher rates

Business may have to wear higher interest rates from their bank or lender because of higher funding costs and higher risk charges. ANZ chief executive [...]

POSTED ON March 4, 2009
RBA places rates on hold

Financial markets had predicted an interest rate cut of either 0.25 or 0.50 per cent, but at today's RBA Announcement Meeting the Reserve Bank of [...]

POSTED ON March 3, 2009
NAB to open new business banks

National Australia Bank is looking for sites around Australia to open as many as 12 new business banking centres this year. And the bank has [...]

POSTED ON March 3, 2009
Time to get to know your free ATMs

Customers will need to know how to locate free ATMs after changes to ATM charging start tomorrow says the Australian Bankers Association. If customers use [...]

POSTED ON March 2, 2009
ATM fees: Do you wish to continue?

From tomorrow ATMs not owned by the card holder's bank will display a message before a withdrawal transaction is completed. "The owner of this terminal [...]

POSTED ON March 2, 2009
Aussies pay ‘unheard of’ bank fees

Australian households pay, on average, $1,000 every year in bank fees and charges. Australian bank customers are paying hundreds of dollars more each year in [...]

POSTED ON March 2, 2009
Sydney hope amid auction doom and gloom

Sydney auction results continue to show small incremental improvement. The clearance rate was up one per cent to 63 per cent after 183 properties were [...]

POSTED ON March 2, 2009
Consumers falling for scams

One in twenty consumers will fall victim to a financial or other scam this year and collectively lose more than one billion dollars to the [...]

POSTED ON March 2, 2009
Rich retirees to pay for pension boost

One million people currently receiving a part age pension will have their payments reduced to pay for an increase in the basic rate of age [...]

POSTED ON February 27, 2009
Finance company to pay fine

The Victorian Civil and Administrative Tribunal ordered Australian Finance Direct to pay a fine of $100,000 after breaching the consumer credit code. AFD agreed to [...]

POSTED ON February 27, 2009
Mortgage Choice says housing will bounce

The housing market is unlikely to experience a prolonged downturn says Paul Lahiff, chief executive of Australia's biggest listed mortgage broker chain Mortgage Choice. Mortgage [...]

POSTED ON February 26, 2009
St. George cuts fixed rate loans

St. George Bank has cut its fixed interest rate home loans by up to 0.5 per cent. The St George 3 year Fixed Rate is [...]

POSTED ON February 26, 2009
Unclear definition on what constitutes a recession

Many people often pose the question of whether Australia can weather this market downturn and avoid going into recession, however given the mixed interpretations economists [...]

POSTED ON February 26, 2009
Housing market set for a gloomy year

The construction industry will face a tough year ahead, according to the Housing Industry Associations national outlook. 132,190 homes are expected to be constructed for [...]

POSTED ON February 26, 2009
Crackdown on small ASX listed companies

As the deadline for half-year reporting draws nearer for many small Australian Securities Exchange-listed companies, there are growing concerns that a significant number of businesses [...]

POSTED ON February 26, 2009
RHG milks profits with high rates

RHG, the former Rams Home Loan Group, has reported a $69 million profit for the half year to December from its declining mortgage portfolio. RHG [...]

POSTED ON February 26, 2009
PayPal told to freeze fees

PayPal will freeze fee for merchants trading through the eBay Australia website for a period of two years, the Reserve Bank of Australia disclosed yesterday [...]

POSTED ON February 25, 2009
Pokies are a bad investment

Poker machine industry leader Aristocrat Leisure has announced a 75 per cent decline in profit because of difficult economic conditions and widespread smoking bans in [...]

POSTED ON February 25, 2009
No more big rate cuts

The Reserve Bank governor has signalled that the central bank may wait and see the impact of recent rate cuts before making any new big [...]

POSTED ON February 24, 2009
CBA factors in future rate rises

Commonwealth Bank will increase the level of the deposit that new borrowers buying their first home must have to three per cent, The Australian reported. [...]

POSTED ON February 24, 2009
ANZ offers share fund to online savers

The ANZ Online Investment Account is a managed fund investing in the top 200 companies that works like an online savings account. Aimed at the [...]

POSTED ON February 24, 2009
Fixed rate loans offer value to investors

Lower fixed mortgage rates are helping to bring investors back into the market says BIS Shrapnel senior project manager Jason Anderson. Major banks are offering [...]

POSTED ON February 24, 2009
St George still favourite bank for business

Almost eighty per cent of business banking customers are satisfied with their main bank according to TNS Communications, but satisfaction levels seem to have plateaued. [...]

POSTED ON February 24, 2009
ANZ wants to lend more to small business

ANZ has announced it will increase lending to small and medium businesses by $8 billion, equal to the total amount of new lending to SME's [...]

POSTED ON February 24, 2009
Depositors face new ATM fees

At present a typical consumer faces the chance that 75 per cent or more of ATMs they might want to use belongs to someone else, [...]

POSTED ON February 24, 2009
ATM fee free networks emerge

Westpac, Cashcard and credit union and building societies are striking agreements with owners of small ATM fleets - mainly small banks - and working out [...]

POSTED ON February 24, 2009
Suncorp to say no to breakup plan

The board of Suncorp Metway are believed to have rejected the idea of separating the banking and insurance businesses and selling the bank as Suncorp [...]

POSTED ON February 24, 2009
Package up for a five per cent mortgage

Banks and other lenders are said to be offering sub five per cent loans as part of package deals for big loans. The InfoChoice benchmark [...]

POSTED ON February 20, 2009
Deposits up 70 per cent at AMP

AMP Bank more than doubled its profit in the year to December 2008, contributing $21 million to the profit of AMP, the wealth management and [...]

POSTED ON February 20, 2009
Centrelink hoax email scam warning

Minister for Human Services, Senator Joe Ludwig, today warned the Australian community to be on the lookout for a hoax email seeking personal information. The [...]

POSTED ON February 20, 2009
Deposits and margins up at Westpac

Westpac bank increased deposits by 9.6 per cent and lending was up 2.4 per cent in the December quarter said Westpac chief executive Gail Kelly. [...]

POSTED ON February 19, 2009
Tax office says pay the builder now

The tax commissioner Michael D'Ascenzo issued two taxpayer alerts covering arrangements where a land owner delays paying or invoicing for construction services in an attempt [...]

POSTED ON February 19, 2009
Half per cent rate cut for March

Market expectations of a 0.5 per cent rate cut firmed yesterday to a 100 per cent certainty after the release of the Reserve bank Board [...]

POSTED ON February 18, 2009
Hard hit savers look at term deposits

Retirees and people reliant on their savings have had their income hit hard in recent months. A couple with $120,000 in savings could have had [...]

POSTED ON February 18, 2009
Savings add up for home buyers

People taking out loans today need to remember that interest rates will go up again eventually and repayments will rise as a result. Eighty per [...]

POSTED ON February 18, 2009
Housing getting affordable again

Big cuts in interest rates and the boost to the First Home Owners Grant pushed housing affordability conditions to the best level in five years, [...]

POSTED ON February 17, 2009
ATO says no receipts needed for small donations

The Tax Office announced a practical approach to ensure those donating to help the victims of the Victorian bushfires and Northern Queensland floods can do [...]

POSTED ON February 17, 2009
$5 ATM fees coming

NAB, Westpac, ANZ and St George have all confirmed that they will be charging customers who use ATMs owned by their competitors a 'disloyalty' fee. [...]

POSTED ON February 16, 2009
Smart borrowers can save $130,000

Borrowers can save thousands of dollars and many years from the life of their mortgage by maintaining existing repayments as rates fall, setting up a [...]

POSTED ON February 16, 2009
Aussie targets cards and loans

Credit cards and personal loans are key areas for growth for Aussie Home Loans in 2009 says executive chairman John Symonds.Aussie is currently integrating the [...]

POSTED ON February 16, 2009
Small debts cripple the unemployed

Even small amounts of debt is financially crippling people says a St Vincent De Paul charity centre manager. An inability to handle money is common [...]

POSTED ON February 13, 2009
Big credit union passes on rate cut

Following the one per cent reduction in the official cash rate announced by the Reserve Bank of Australia (RBA) on Tuesday, Credit Union Australia can [...]

POSTED ON February 13, 2009
Depositors seek safety in majors

Commonwealth Bank, Westpac, ANZ and NAB and St George all increased their deposits in the last few months according to the Australian Prudential Regulation Authority.CBA's [...]

POSTED ON February 12, 2009
Commonwealth open for home loan business

The Commonwealth Bank home loan book was up 23 per cent, from $204 to $250 billion over the first half of the financial year, and [...]

POSTED ON February 12, 2009
Margin lending declines at Commonwealth

Commonwealth Bank's margin lending business has plunged from $8 billion to $5.5 billion in six months, though this is in line with the decline in [...]

POSTED ON February 12, 2009
ME Bank bucks the trend of rate cuts

Members Equity Bank has gone against the trend of passing on the full 1.00 per cent cut in mortgage rates, by only offering a 0.75 [...]

POSTED ON February 11, 2009
No receipt needed for small donations

The Tax Office today announced a practical approach to ensure those donating to help the victims of the Victorian bushfires and Northern Queensland floods can [...]

POSTED ON February 11, 2009
BankWest boosting Commbank

Commonwealth Bank reported net profit for the six months to December rose to $2.573 billion, from $2.371 billion. The result includes $547 million provisional estimate [...]

POSTED ON February 11, 2009
Commercial borrowers pay more, wait longer

Commercial borrowers are unlikely to get relief from falling interest rates any time soon, a finance company director said yesterday. Paul McCarthy, a director of [...]

POSTED ON February 11, 2009
ATM fees to go up

ATM fees will rise under the new direct charging regime to be introduced by the RBA in March. CashCard, the biggest independent ATM fleet operator [...]

POSTED ON February 10, 2009
Commonwealth and Suncorp looking for leaders

Commonwealth Bank is looking for a replacement for CEO Ralph Norris who took over leadership at CBA in 2005 from David Murray. Murray will announce [...]

POSTED ON February 10, 2009
Fire victims can get help from their bank

ANZ Bank has announced it will give its customer's whose homes have been destroyed in the Vctorian bushfires a $10,000 cash grant. $5,000 will be [...]

POSTED ON February 9, 2009
Business urged to blow whistle on harsh banks

Viable businesses that feel they have been treated "harshly and unfairly" by their bank should contact the government says the treasurer Wayne Swan. Banks are [...]

POSTED ON February 9, 2009
ANZ eyes Suncorp (again)

ANZ may emerge a buyer for Suncorp's banking business if problems in the commercial lending portfolio can be contained. Suncorp is currently seeking a replacement [...]

POSTED ON February 9, 2009
ANZ warns of new Trojan virus

ANZ is warning its customers about a Trojan virus that creates a fake "personal details form" that appears to customers after they log on to [...]

POSTED ON February 6, 2009
BankWest & St George customers unhappy

Almost one quarter of all BankWest customers and St George customers report that they are less satisfied with their bank since it has been taken [...]

POSTED ON February 5, 2009
Beware Visa, MasterCard tax refund offers

The Tax Office is warning people about another email scam being circulated that claims to offer a refund from the Tax Office. The email asks [...]

POSTED ON February 5, 2009
Depositors struggle to get five per cent

Retirees dependent upon their savings and people saving for home deposit are the big losers from the yesterday's interest rate decision to cut one per [...]

POSTED ON February 4, 2009
Westpac commits to 100 basis point cut

Following today's RBA announcement to shed 100 basis points off the cash rate, to 3.25 per cent, Westpac has jumped the wagon and become the [...]

POSTED ON February 3, 2009
CBA, ANZ toughest on business rate cuts

Small business has received average rate cuts of just 1.8 per cent since the Reserve bank began cutting interest rates in September. The RBA has [...]

POSTED ON February 2, 2009
Deposits way up at ME, Investec, MacBank

Investec, Members Equity Bank and Macquarie achieved strongest growth in household deposits in the three month to December 31 according to figures published by banking [...]

POSTED ON February 2, 2009
RBA may cut by 1.5 per cent

The Reserve Bank of Australia is likely to decide tomorrow to set a new 'floor' for Australian official interest rates of around 2 per cent [...]

POSTED ON February 2, 2009
Tax breaks for super favour the wealthy

The Treasury yesterday released figures on the amount of tax concessions handed out by the federal government in 2007-2008. Superannuation was the biggest beneficiary accounting [...]

POSTED ON January 30, 2009
NAB defies RBA on ATM fees

National Australia Bank has announced that it will continue to charge its customers a fee for using ATMs owned and operated by its competitors after [...]

POSTED ON January 30, 2009
Forgot your PIN/password?

January is the top month for losing or not remembering security codes or passwords. The average adult now has more than twenty passwords plus PIN [...]

POSTED ON January 30, 2009
Bank accounts out of favour online

Online search giant Google has secured a financial services licence from the Australian Securities and investment Commission, allowing it to provide deposit and payments services [...]

POSTED ON January 30, 2009
Rates down to 2 per cent by June

Investors trading on the Sydney Futures Exchange yesterday estimated the chances of a 1.0 per cent rate cut next week by the Reserve Bank at [...]

POSTED ON January 30, 2009
13 years to repay $1,000 card debt

A $1,000 credit card debt could take 13 years to repay and cost a total of $1,120 in interest at 18 per cent if the [...]

POSTED ON January 30, 2009
Commbank premium restructures

Commonwealth Bank has restructured its premium banking division following the departure of the sections chief executive late last year. The new structure sees the separation [...]

POSTED ON January 30, 2009
Consumers to pocket more savings

With many economists tipping a rate cut of at least 0.75 percentage points in next Tuesday's Reserve Bank's Board Meeting, borrowers with a $400,000 mortgage [...]

POSTED ON January 29, 2009
Westpac loans easy, after long wait

Mortgage applications to Westpac have been taking as long as six weeks to process because the bank's lending criteria has not been tightened as much [...]

POSTED ON January 29, 2009
Wizards refinance with Commbank

Thousands of Wizard home loan customers who are paying above standard interest rates on their mortgages will be able to refinance into Commonwealth Bank sourced [...]

POSTED ON January 29, 2009
Banks halve in value

The share price of Australia's banks has fallen by 51 per cent since July 2007 when the credit crisis began. Bank of Queensland and National [...]

POSTED ON January 29, 2009
Financial services get more expensive

Over the year to December 2008 the price of financial and insurance services increased by 7.0 per cent, or roughly double the overall increase in [...]

POSTED ON January 29, 2009
10,000 taxpayers face fines over investments

The Australian Tax Office has sent 'please explain' letters to tax practitioners acting for about ten thousand taxpayers who have apparently underreported or incorrectly disclosed [...]

POSTED ON January 28, 2009
Victoran credit unions merge

mecu Ltd yesterday said it was in merger discussions with Bendigo-based RegionalOne Credit Union. mecu ranks as the ninth-largest credit union in Australia, according to [...]

POSTED ON January 28, 2009
More govt handouts to come next month

The federal government is expected to deliver a second big economic stimulus package as early as next month in response to the growing global financial [...]

POSTED ON January 28, 2009
Graduates to pay debt by community service

University graduates with Higher Education Contribution Scheme debts will be able to pay down some of what they owe by working voluntarily for charities under [...]

POSTED ON January 28, 2009
Commbank investor platforms drop dollars

Commonwealth Bank's investment platforms suffered a drop in funds under management of 11.9 per cent in the December quarter to $128.59 billion due to falling [...]

POSTED ON January 27, 2009
Real estate industry “duping” young buyers

The real estate industry is overstating the rental crisis in a bid to lure investors into the market to purchase properties and to encourage renters [...]

POSTED ON January 27, 2009
Depositors shop around for six per cent

Term deposit rates have halved in the last six months from more than 8 per cent. Online savings accounts are paying up to six per [...]

POSTED ON January 27, 2009
More for rent as houses fail to sell

The rental vacancy rate has increased to a national average of 3.3 per cent, easing the burden on renters. The Melbourne vacancy rate is now [...]

POSTED ON January 27, 2009
Business turns on banks

The latest TNS Business Banking Customer Satisfaction Report, published yesterday, shows a significant drop in business support for banks. Over the six months to December [...]

POSTED ON January 22, 2009
Banks fear profit season selling

Australian banks have been hit hard by selling on share markets and have lost about seven per cent this week. The banks have lobbied the [...]

POSTED ON January 22, 2009
Local bank stocks take a plunge

Australian bank stocks reacted sharply yesterday, after the Royal Bank of Scotland unveiled record loss figures of €28 billion ($AUD61 billion) - the worst in [...]

POSTED ON January 21, 2009
Headline inflation figures plummet

A significant decrease in the latest TD Securities-Melbourne Institute inflation gauge to its lowest levels in more than three years has increased the possibility for [...]

POSTED ON January 21, 2009
GE Money curtails credit limits

GE Money is writing to some customers with a Coles Source MasterCard and cutting their credit limits. In one instance GE cut the credit limit [...]

POSTED ON January 20, 2009