Top 12–month term deposit rates in November 2019

Term deposits are popular with retirees, sophisticated investors wanting to diversify with cash and savers needing to lock their cash away. 12-month (1-year) term deposits [...]

POSTED ON November 25, 2019
The Greater cuts credit card rates

The Greater Building Society is cutting its credit card rates by one percent from June 1. Its card rates will start from 9.25 per cent. [...]

POSTED ON May 20, 2013
CUA Youth eSaver is paying 5.05% p.a.

A Youth eSaver account from CUA is designed as a first savings account for under 18’s. The account has a variable rate of 5.05% p.a. [...]

POSTED ON May 15, 2013
Save interest by switching to a low rate card

Aussies are paying hundreds of millions of dollars extra in credit card interest charges unnecessarily because their credit cards are charging a higher rate than [...]

POSTED ON May 13, 2013
CUA slashes variable and fixed rates

CUA will cut rates across both its fixed and standard variable home loan (SVHL) product suites, with CUA Rate Breaker Package rate changes effective from [...]

POSTED ON May 13, 2013
NAB says deposit war is easing

National Australia Bank chief executive Cameron Clyne said it will be difficult to hold back part of any future interest rate cuts from borrowers because [...]

POSTED ON May 10, 2013
Pay off credit cards and car loans first

Recent figures from the Reserve Bank of Australia show home loan borrowers are now about 14 per cent ahead on their loans, equivalent to about [...]

POSTED ON May 6, 2013
Bank of Sydney launched today

Today the Bank of Sydney was launched with 16 branches across Sydney, Melbourne and Adelaide. The Bank of Sydney is a rebranding of the Beirut [...]

POSTED ON May 6, 2013
Tips for overcoming debt stress

In Western Australia just over a third of the population are affected by debt stress. Getting on top of debt allows people to really forge [...]

POSTED ON May 2, 2013
Avoid ATM card fees with EFTPOS

According to the Reserve Bank of Australia, the number of withdrawals made at ATMs has decreased by 9% in the past year. Bellbird Park mother [...]

POSTED ON April 30, 2013
Choose your credit card carefully

What credit card you choose should depend on what type of credit card user you are. Big spenders who spend more than $5000 a month [...]

POSTED ON April 29, 2013
Aussies are happy with their mortgages

Financial wellbeing with mortgages is on a clear upward trend. 93%of home owners are ‘comfortable’ with their mortgage - 65% are ‘very’ comfortable. Australians are [...]

POSTED ON April 24, 2013
Cash losing out to contactless cards

Contactless payment technology, designed for low-value debit card payments, is making inroads into cash payments. RFi asked consumers what payment method they used in a [...]

POSTED ON April 22, 2013
Savers like to spread their deposits around

Savers are spreading their deposits around rather than putting all their money in one bank or other deposit-taking institution. According to Roy Morgan Research, customers [...]

POSTED ON April 18, 2013
Average credit card debt going down

The average credit and charge card balance fell three per cent, from A$3364, in February 2012, to $3281 in February 2013 according to the Reserve [...]

POSTED ON April 15, 2013
A 100% offset account can save thousands

An offset account is a transaction account linked to your home loan. Many low interest rate home loans come with a 100 per cent offset [...]

POSTED ON April 12, 2013
Aussies turning to savings and debit cards

Despite there being more credit cards (10.2 million) than debit cards (7.4 million) on issue, the average monthly usage per debit card has overtaken the [...]

POSTED ON April 11, 2013
200 credit cards – how to choose one?

There are more than 200 different credit cards on the market now and the right one for you is going to depend on your spending [...]

POSTED ON April 9, 2013
Credit reports get comprehensive

Under the current credit reporting rules, a credit reporting agency can include the following information in a credit file: payment on a credit contract is [...]

POSTED ON April 8, 2013
30% of borrowers choosing fixed rates

Up to 30 per cent of home buyers are locking in the best fixed interest rate deals in years. Westpac has just ended its 4.99 [...]

POSTED ON April 8, 2013
Westpac wants more savings deposits

Westpac says it will continue to chase consumer savings aggressively. A fall in term deposit interest rates over recent months has sparked predictions that fierce [...]

POSTED ON April 4, 2013
Commonwealth cuts credit card rates

Commonwealth Bank has cut the purchase rate and the cash advance rate on a number of its credit cards by 25 basis points. Commonwealth Bank's [...]

POSTED ON April 2, 2013
Aussies paying down loans faster than ever

Households are continuing to pay their home loans back rapidly, in part by keeping repayments steady as interest rates fall. The RBA estimated that mortgage [...]

POSTED ON March 28, 2013
Keep saving and paying off debt says RBA

Aussies should keep saving and resist bingeing on debt says the Reserve Bank of Australia which is warning that households should be wary of the [...]

POSTED ON March 28, 2013
Savers turning to longer term deposits

Average interest rates on a 180-day term deposit are about 3.89 per cent right now, compared with 5.45 per cent two years ago. 12-month term [...]

POSTED ON March 27, 2013
Cut up your card costs, not your credit card

Cutting up your credit card can mean losing the convenience and reward points that a well-managed card can deliver. There are ways to cut your [...]

POSTED ON March 26, 2013
No change to rates for many months to come

According to the pricing of the futures market, there is now very little prospect of further interest rate cuts and we should be preparing for [...]

POSTED ON March 25, 2013
RBA backs banks on home loan rates

The Reserve Bank reported yesterday that “lending rates have tended to move in line with funding costs over the past 12 months.” The RBA said [...]

POSTED ON March 22, 2013
CommBank gets green light to buy Aussie

Commonwealth Bank has been given the all-clear to purchase a controlling stake in Aussie Home Loans by the Australian Competition and Consumer Commission. CBA already [...]

POSTED ON March 22, 2013
CUA Rate Breaker loan proving very popular

Australia's biggest credit union, CUA, reported that retail deposits increased 7.9 per cent to $6.9 billion in the last six months of 2012. The number [...]

POSTED ON March 22, 2013
Fixed rates starting to rise again

After nearly two years of downward movement on fixed interest rate home loans, a major bank has made the first increase on their fixed interest [...]

POSTED ON March 20, 2013
80% of Aussies lie about their credit card debt

Four out of five Australians conceal their credit card debt from their family according to a recent survey. AMP financial planner Dianne Charman says it's [...]

POSTED ON March 19, 2013
Credit card cash rewards not so rewarding

Credit card cash rewards programs are not as generous as they were 12 months ago. On average, a customer who spends $24,000 a year - [...]

POSTED ON March 18, 2013
NAB predicts rates of 2.5% in 2013

National Australia Bank now expects the Reserve Bank of Australia (RBA) to cut the official cash rate by 50 basis points in 2013 to 2.5 [...]

POSTED ON March 15, 2013
NAB signals possible rate cuts

National Australia Bank chief Cameron Clyne says it's "not unreasonable" for homeowners to expect rate cuts independent of the Reserve Bank. Mr Clyne reiterated recent [...]

POSTED ON March 14, 2013
Don’t lose track of your old accounts

After May 31, bank accounts not accessed for three years will be transferred to the Australian Securities and Investments Commission (ASIC). Account-holders can recover their [...]

POSTED ON March 14, 2013
Personal loan versus credit card

Credit card or personal loan - which is the best way to borrow? Australians currently have almost $100 billion debt stacked up on credit cards [...]

POSTED ON March 12, 2013
Citibank and Qantas reward debit spending

Reward programs were once exclusive to the credit card market, but in the past year Bankwest, Citibank and ING Direct have all launched programs designed [...]

POSTED ON March 12, 2013
Are you paying too much interest on your debt?

Do you know the interest rate you're paying on your mortgage, credit card or personal loan? It's worth checking because banks will discount their variable [...]

POSTED ON March 8, 2013
Home loan splitting more popular than ever

With fixed interest rates at historic lows and variable rates expected to drop in the coming months, more home owners are choosing to split their [...]

POSTED ON March 8, 2013
Young people need a savings plan

Many Gen Ys reach their early 30s with “very concerning” levels debt and a “much lower regard for savings than the [Gen] Xs and boomers”, [...]

POSTED ON March 6, 2013
RBA keeps rates steady at 3.0 per cent

The Reserve Bank board kept the official cash rate at 3 per cent yesterday. The RBA is maintaining its modest easing bias and markets have [...]

POSTED ON March 6, 2013
Mutuals get over 90% customer satisfaction

According to the latest Roy Morgan monthly poll, Australia’s big four banks received an average customer satisfaction result of 81.1 per cent. The mutual banks [...]

POSTED ON March 5, 2013
Banks under pressure to cut rates

Pressure is mounting on banks to start cutting variable home loan rates regardless of what the Reserve Bank does. Banks no longer have to pay [...]

POSTED ON March 5, 2013
Big four have many brands

St George, Bankwest, UBank, RAMS, Aussie, Wizard Home Loans, Bank of Melbourne, BankSA are all owned or part owned by a big four bank. In [...]

POSTED ON March 4, 2013
What the credit card reforms mean for you

Credit card reforms introduced last year ban over-limit fees and require the card issuer to notify the card holder when the credit limit is exceeded. [...]

POSTED ON February 28, 2013
Banks sucking $80 extra from borrowers

Australia’s big banks have pocketed more than $2.4 billion over the last year by refusing to pass on official interest rate cuts in full according [...]

POSTED ON February 25, 2013
Bendigo says deposit war is over

Bendigo and Adelaide Bank managing director Mike Hirst said the war for deposits would cool because of recent improvements in wholesale funding markets. “The wholesale [...]

POSTED ON February 21, 2013
Aussies are keeping on top of their debt

According to Dun & Bradstreet's Consumer Credit Expectations Survey, fewer people expect to increase their level of household debt this year. Expectations for household debt [...]

POSTED ON February 20, 2013
Banks still dominate deposits and mortgages

The latest data from the Australian Prudential Regulation Authority shows the big four banks control 83 per cent of home loans up from about 67 [...]

POSTED ON February 18, 2013
Falling home loan rates

One-year fixed mortgage rates have fallen by an average of 17 basis points since the beginning of November. Three-year fixed rates have fallen by an [...]

POSTED ON February 15, 2013
Debt consolidation can make life easier

Debt consolidation is rolling a group of debts - such as store cards and credit cards that typically have a high interest rate - into [...]

POSTED ON February 14, 2013
Credit card balances are falling

Credit card balances accruing interest fell 1.9 per cent, from $36.1 billion to $35.4 billion, in 2012 according to the RBA. Ten credit card issuers [...]

POSTED ON February 13, 2013
First home buyers like fixed rates

RAMS Chief Executive, Melos Sulicich said fixed interest rate home loans and splitting between variable and fixed interest rates were a popular choice for first [...]

POSTED ON February 12, 2013
Young people like fixed rate mortgages

Credit Union Australia’s National Mortgage Survey: Expectations and Intentions found that Australians are unclear about whether interest rates will continue to fall in 2013 or [...]

POSTED ON February 8, 2013
RBA keeps rates at 3.0 per cent

The Reserve Bank has left the official cash interest rate unchanged at 3 per cent for February. A poll of 28 economists carried out by [...]

POSTED ON February 6, 2013
Young people lead the savings race

More than half of savers are ‘saving for a rainy day’ (53.4%) according to the December 2012 St George-Melbourne Institute Household Financial Conditions Report. 43.5 [...]

POSTED ON February 5, 2013
Discount rate loans rule the mortgage market

Ongoing discount rate loans are the top variable rate mortgage product for new borrowers, at 41.43% according to Mortgage Choice. Next most popular type of [...]

POSTED ON February 5, 2013
Borrowers like variable rate home loans

Demand for variable rate loans reached a six-month high in January, accounting for 83.65% of Mortgage Choice’s new home loan approvals. Demand for fixed rate [...]

POSTED ON February 5, 2013
Rate cuts fail to spur home loan market

The home-lending market maintained its low-growth trend last year, despite a succession of official interest rate cuts. Reserve Bank figures released last week show lending [...]

POSTED ON February 4, 2013
Bank rates getting hard to justify

The big banks are paying some of the lowest rates to borrow from wholesale markets in years. Last month, the Commonwealth Bank, Westpac, ANZ and [...]

POSTED ON February 1, 2013
How to switch bank accounts

Australian Bankers' Association chief executive Steven Munchenberg says there's plenty of choice for customers if they want to switch to a fee-free transaction account. “There's [...]

POSTED ON January 29, 2013
Proactive borrowers can get rate discounts

Proactive borrowers with home loans in excess of $500,000 and a strong equity position are well placed to negotiate substantial discounts off their current home [...]

POSTED ON January 25, 2013
ME Bank cuts fixed rates to under 5%

ME Bank slashed its 1-year fixed rate to 4.99% p.a. for its Super Member Home Loan (SMHL) Standard Home Loan with a Member Package. The [...]

POSTED ON January 24, 2013
Seven essential tips for saving money

Start young: As long as you keep working, compounding interest can build even meagre savings into a considerable sum. Pay off: Even if you refuse [...]

POSTED ON January 21, 2013
Aussies pledge to save more in 2013

Australians are taking steps to take control of their finances. Cutting back on ‘wants’, shrinking the mortgage and spending money wisely are the top 3 [...]

POSTED ON January 17, 2013