Top 12–month term deposit rates in November 2019

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 [...]

POSTED ON November 25, 2019
Illawarra CU cuts by more than the RBA

Illawarra Credit Union is cutting standard variable interest rates by 0.30 percentage points to 5.95 per cent.Chief executive Bob Kotic said Illawarra CU was also [...]

POSTED ON May 22, 2013
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. for [...]

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
Average credit cards rates down to 17.16%

RBA official interest rates have been cut by 2 percentage points since 2011 but credit card rates have only fallen 0.12 points. Average interest rate [...]

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
Banks cut rates as profits soar

The major banks have moved quickly to pass on this week’s Reserve Bank of Australia 0.25 per cent interest rate cut in full in the [...]

POSTED ON May 9, 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
Credit card annual fees can go up to $700

90 per cent of credit cards have annual fees up to $700 a year. Twenty seven cards currently on the market have no annual fees.Annual [...]

POSTED ON May 3, 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
No more cheques within five years

Cheques could be a thing of the past by the end of this decade, the Australian Payments Clearing Association says.Cheque volumes have fallen by more [...]

POSTED ON May 1, 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
How to move to a new bank

Tick and Flick reforms make changing banks quick and easy.First contact your new bank for a transaction account. Ask them to contact your previous bank [...]

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
Victorians are the best savers

Victorians have the highest average savings level of $24,971 per household, followed by Western Australians who have around $19,442 in the bank.South Australian households have [...]

POSTED ON April 26, 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 taking [...]

POSTED ON April 24, 2013
Three years is the favourite fixed loan

Mortgage Choice is reporting that more than a quarter of home loans (26%) were fixed in March, up from 20.6% in February and well above [...]

POSTED ON April 23, 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 hold [...]

POSTED ON April 18, 2013
Mortgage market in recovery mode

According to Australian Bureau of Statistics' figures released yesterday, the number of owner-occupied housing loans rose two per cent in January (in seasonally adjusted terms).The [...]

POSTED ON April 16, 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
NAB grabs mortgages from other banks

National Australia Bank has gained mortgage market share from its rivals in the past three years but expects the pace of that growth to slow [...]

POSTED ON April 12, 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
BoM to open branch number 70

Westpac's Bank of Melbourne will open its 70th branch since its launch in 2011 on its way to its goal of 100 branches in five [...]

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 chief [...]

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
CommBank is still the favourite big bank

Retail customer satisfaction with the big banks is rising. The Roy Morgan survey for February shows that Commonwealth Bank has the highest retail rating among [...]

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 owns [...]

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 important [...]

POSTED ON March 19, 2013
Visa amends credit card rules

Visa Australia has amended its card scheme regulations to allow banks to enforce the Reserve Bank's new card surcharging standard. Visa said the new scheme [...]

POSTED ON March 18, 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
Do First Home Saver Accounts work?

First Home Saver Accounts were introduced by the Rudd Government in 2008. The accounts must remain open for four years and the government makes contributions [...]

POSTED ON March 14, 2013
Young people face credit lockdown

Young people - called Generation Y - are facing credit lockdown in increasing numbers because many have multiple credit defaults.According to credit reporting agency Veda [...]

POSTED ON March 13, 2013
NAB to change products and services

National Australia Bank plans to cut the number of products offered and the remaining products will also be simplified. Branches will be re-configured and customer [...]

POSTED ON March 13, 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
Average online saver base rate is falling

The average interest rate paid on online savers, once promotional offers are excluded, has slipped to 2.53 per cent. Savers can get significantly higher “bonus” [...]

POSTED ON March 11, 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
Don’t pay fees on your bank account

Don't pay bank fees. The banks have no-fee accounts, so ask. If your bank has too many conditions attached to fee free banking, such as [...]

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
No more RBA rate cuts in 2013?

There will be no more rate cuts this year unless the economy weakens markedly. Reserve Bank Governor Glenn Stevens said that recent rate cuts are [...]

POSTED ON March 7, 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
Variable mortgage rate cut to 4.99%

State Custodians Mortgage Company has cut the variable interest rate on its peak performance home loan by 25 basis points to 4.99% for new borrowers [...]

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 as [...]

POSTED ON March 5, 2013
RBA tipped to hold fire on rates

All major bank economists are tipping the Reserve Bank to leave the cash rate on hold today at 3 per cent.Of the 29 economists surveyed [...]

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.Repayments [...]

POSTED ON February 28, 2013
Bank rate cuts are inevitable

UBS analyst John Mott said that banks are currently reaping record profits from mortgages and out of cycle rate cuts are inevitable.“A new wholesale funded [...]

POSTED ON February 26, 2013
Rates tipped to stay where they are

Westpac is the only major bank tipping the RBA to cut the cash rate to 2.75% on March 5.ANZ predicts the RBA will leave the [...]

POSTED ON February 25, 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
Aussies want to save more

Australians have become more conservative in their approach to debt, with more people paying off their credit card accounts in full each month and fewer [...]

POSTED ON February 19, 2013
Aussies want a banking inquiry

Australians believe there is not enough competition in the banking market and that banks make excessive profits, and they want the government to hold an [...]

POSTED ON February 18, 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
Aussies love shopping with cards

Consumers are embracing the "cashless society", racking up a record number of purchases on their credit and debit cards.The number of credit and debit card [...]

POSTED ON February 18, 2013
Banks can cut rates by 0.2%

Retail banks should reduce interest rates, especially to small business customers by at least 0.2 per cent. Banks now adopt a regular practice of not [...]

POSTED ON February 15, 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
First home buyers are in retreat

First-home buyer activity in the housing finance market fell heavily last year. According to Australian Bureau of Statistics figures released yesterday, the number of first-home [...]

POSTED ON February 13, 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
Half of Aussies need more savings

Single parents and couples with children are suffering the most anxiety as 52 per cent of Australians struggle to accumulate monthly savings, the ME Bank [...]

POSTED ON February 11, 2013