Car loan rate update: January 2020

“Car loans now have home loan-like rates” The car dealership may not be the best place to finalise your car finance because banks, credit unions [...]

POSTED ON January 13, 2020
Almost 40% have no loans or credit

Thirty-nine per cent of the Australian adult population do not have any mainstream credit product - a credit card, personal loan or mortgage.There was a [...]

POSTED ON May 30, 2012
Demand for fixed rates expected to grow

Demand for fixed rate mortgages is growing and expected to grow further. National Australia Bank mortgage general manager Sally Bruce said demand was growing because [...]

POSTED ON May 29, 2012
ME Bank launches new investor loan at 6.19%

ME Bank has launched a new property investment loan combo that combines their interest only loan with their member package, offering significant interest savings for [...]

POSTED ON May 29, 2012
RaboDirect offering 6% on 5 year term deposit

People wanting to lock their savings into the government guaranteed safety of deposits can still get rates of six per cent said Andrew Murray, chief [...]

POSTED ON May 28, 2012
Billions sitting in transaction accounts

More than a third of Australians either don’t understand the difference between a transaction account and a savings account, or are not sure. According to [...]

POSTED ON May 28, 2012
RAMS Saver offering 5.75 per cent

Westpac owned mortgage lender RAMS has entered the deposit market and is offering a high interest savings account, the RAMS Saver Account, currently offering a [...]

POSTED ON May 25, 2012
First home buyers choosing Suncorp

Suncorp has beaten out ANZ, Westpac and NAB in its share of the first homebuyer market. The regional bank has seen the biggest gains in [...]

POSTED ON May 23, 2012
Top picks for kid’s savings

Traps are lurking for parents who don't understand the drawbacks in kid’s savings accounts. Interest rates can vary dramatically, and even the high ones can [...]

POSTED ON May 23, 2012
Teachers is the most popular bank

ANZ may be bearing the brunt of a customer backlash after taking the lead in making out-of-cycle increases to variable home loan rates this year.Its [...]

POSTED ON May 22, 2012
Mutuals say we provide better service

Credit unions and mutual banks have been responding to recent criticisms that they are not providing a realistic alternative to the big banks.“Credit unions have [...]

POSTED ON May 18, 2012
Rate cuts fail to inspire consumers

Westpac's monthly survey of consumer confidence crept up only 0.8 per cent this month, and remains 8.3 per cent below this time last year. Westpac [...]

POSTED ON May 17, 2012
Cheque fees tipped to rise

Fees will rise for the dwindling band of cheque users, the Australian Payments Clearing Association noted yesterday. “Users may be charged fees as a result [...]

POSTED ON May 16, 2012
ANZ credit card rates go up 0.15%

ANZ has increased the purchase rate on all its consumer credit cards by 15 basis points. The rate on the ANZ Frequent Flyer Platinum Visa [...]

POSTED ON May 15, 2012
Average new home loan falls to $284,500

Australian Bureau of Statistics housing finance figures published yesterday show that there has been solid growth in the number of dwelling commitments and a significant [...]

POSTED ON May 15, 2012
NAB commits to having lowest SVR

National Australia Bank (NAB) chief executive Cameron Clyne said more rate cuts are expected. “We're likely to see another 50 basis points of cuts over [...]

POSTED ON May 14, 2012
ANZ cuts rates by 0.37 per cent

ANZ on Friday trimmed its standard variable home loan and business lending rates by 37 basis points just a month after it lifted its home [...]

POSTED ON May 14, 2012
Homeowners renting rooms to pay mortgage

Almost one in three homeowners would consider renting their spare room to help pay the mortgage, a poll by PRDnationwide revealed today.14 per cent said [...]

POSTED ON May 10, 2012
NAB continues to attract switchers

National Australia Bank chief executive Cameron Clyne said the bank continued to grow its number of mortgage customers. “We've seen substantial switching over the last [...]

POSTED ON May 10, 2012
NSW Police get full 0.50% rate cut

The NSW Police Credit Union will pass on the full .50 per cent RBA rate cut to its Police Value Variable Home Loan (down to [...]

POSTED ON May 9, 2012
ME Bank cuts rates by 0.30 per cent

ME Bank yesterday cut its standard variable mortgage rate by 30 basis points, to 6.44 per cent. Since February the bank had been running a [...]

POSTED ON May 9, 2012
Tax discount on savings abandoned

The proposed 50 per cent tax discount on interest earned on the first $1000 of interest income in any year has been scrapped for good [...]

POSTED ON May 9, 2012
Consumers are escaping bank fees and charges

Latest figures show in 2010 Australian households spent a whopping $1.2 billion on transaction account fees, but these fell by $688 million, or 36 per [...]

POSTED ON May 8, 2012
Suncorp Bank’s rating upgraded to A+

Fitch Ratings upgraded the long term issuer default rating of Suncorp Metway Limited (Suncorp Bank) to ‘A+’ from ‘A’.The rating has a ‘stable’ outlook. Suncorp [...]

POSTED ON May 7, 2012
Government calls for more bank rate cuts

Assistant Treasurer David Bradbury said Australian banks should pass on the full benefits of rate cuts to customers facing cost-of-living pressures. “We would certainly be [...]

POSTED ON May 4, 2012
UBank and CUA announce variable loan rate cuts

Pricing differentials between major banks on their home loan rates will become more compressed, with Commonwealth Bank dropping its variable rate loans by 40 basis [...]

POSTED ON May 4, 2012
NAB cuts loan rates by 0.32 per cent

National Australia Bank will pass on only 32 basis points of the 50-point cut this week to the official cash rate. NAB group executive personal [...]

POSTED ON May 3, 2012
Commonwealth cuts loan rates by 0.40 per cent

Commonwealth Bank has moved to lower their standard variable interest rate by 40 basis points following the Reserve Bank's 50 basis point cut on Tuesday.CBA [...]

POSTED ON May 3, 2012
CommBank to tailor loans and accounts

Customers of Commonwealth Bank will start to find that products are better tailored to their individual requirements and that pricing is more likely to be [...]

POSTED ON May 2, 2012
RBA cuts rates by 0.5% but banks hold back

Home and business borrowers are likely to get just two thirds of the 0.50 percentage point interest rate cut delivered by the Reserve Bank. Futures [...]

POSTED ON May 2, 2012
Non-banks eye investor loans

Australia’s non-bank lenders are well placed to help property investors with their financial needs, Resi’s chief executive Lisa Montgomery has claimed.According to Ms Montgomery, investors [...]

POSTED ON May 1, 2012
Term deposits get favoured treatment from banks

Australia’s major four banks have been more generous with their three-month term deposits compared to their standard variable mortgage rates. The major four banks had [...]

POSTED ON April 24, 2012
Credit unions car and personal loans are cheaper

Car and personal loans are an area where credit unions, building societies (known as mutuals) have traditionally been very competitive, and they continue to offer [...]

POSTED ON April 24, 2012
NAB still the favourite big bank – for now

According to the latest Roy Morgan Research consumer banking customer satisfaction survey, support for NAB dropped 80 basis points in March, so its reign as [...]

POSTED ON April 24, 2012
Three cards for travellers

Consumer group Choice spokeswoman Ingrid Just predicts there will be further development in credit cards specifically designed for overseas travel such as the GE 28 [...]

POSTED ON April 23, 2012
Great value term deposits get more popular

Almost half of our savings are now tied up in term deposits. The minutes of the April Reserve Bank board meeting revealed just how important [...]

POSTED ON April 23, 2012
Term deposit rollover costs $4b

Billions of dollars is being lost by savers who are getting their term deposits automatically rolled over to a lower interest rate by their bank. [...]

POSTED ON April 23, 2012
Look for card security or risk your cash

Last year, Aussies lost $1.4 billion by credit card fraud, identity theft and personal finance scams.According to a survey by the Australian Bureau of Statistics, [...]

POSTED ON April 20, 2012
CommBank aims to be your favourite bank

Commonwealth Bank aims to dominate customer satisfaction rankings and increase its share of business lending.CEO Ian Narev yesterday outlined a plan to use new technology [...]

POSTED ON April 20, 2012
First homebuyers struggle with deposits

Lack of a deposit - not interest rate movements - is hurting first homebuyers. A survey by Loan Market has found interest rates were the [...]

POSTED ON April 19, 2012
Gold credit cards falling from favour

The HSBC Credit Card Monitor, published yesterday, confirms other recent research which shows the credit card market being polarised as consumers reject gold cards.The number [...]

POSTED ON April 18, 2012
NAB pays $100 to new customers

National Australia Bank is currently offering to give back up to $100 of the other banks' transaction fees. New customers who open a NAB Classic [...]

POSTED ON April 18, 2012
Families paying too much interest

New figures from the Reserve Bank of Australia show 11.2 per cent of disposable income, on average, goes to interest payments, with all but 2 [...]

POSTED ON April 17, 2012
Aussies know how to manage a credit card

The average credit card balance grew only 0.7 per cent last year, the slowest pace since records started in 1995, according to data from the [...]

POSTED ON April 16, 2012
Credit card cash advances in terminal decline

The number of cash withdrawals on Australian credit cards fell below two million in February for the first time since 1996.Customers borrowed $778 million through [...]

POSTED ON April 16, 2012
Banks likely to hold on to May rate cuts

Bank funding costs have started to rise again amid renewed fears the European debt crisis is spreading. This could reignite yet another difficult month in [...]

POSTED ON April 13, 2012
ME Bank protects borrowers from rate rises

ME Bank announced it would leave its standard variable rate on hold for the third consecutive month - keeping in line with the Reserve Bank’s [...]

POSTED ON April 12, 2012
Saving turns a cup of coffee into $70,000

The real secret to investing is not what you earn on savings and investments but how much you can save.Putting $100 a month away at [...]

POSTED ON April 12, 2012
Switch home loans and save $50,000

Ditch and switch has become the mantra for those dissatisfied with the way the big banks have manipulated interest rates. The average big four advertised [...]

POSTED ON April 11, 2012
How to budget for a mortgage

Before you start looking in real estate agents windows you need to work out whether home ownership makes financial sense for you.Repayments shouldn’t be more [...]

POSTED ON April 11, 2012
Wayne Swan budgets for interest rates cuts

Retail interest rates could fall further as a result of the Federal Government's plan to return its Budget to the black. Treasurer Wayne Swan said [...]

POSTED ON April 10, 2012
Teachers Bank attracting new deposits

Teachers Mutual Bank chief executive Steve James said the bank was on track to report a net profit of $24 million for the year to [...]

POSTED ON April 5, 2012
Average family saving 10% of income

The average household is saving 10 per cent of after-tax income for future needs. A decade ago, Australian households on average were not saving. That's [...]

POSTED ON April 5, 2012
Three year fixed rates lower than variable rates

A fall in fixed rates has increased the portion of home-buyers who buy fixed-rate mortgages. Lenders have dropped their three-year fixed interest rates by 1.11 [...]

POSTED ON April 4, 2012
Velocity challenges Qantas Frequent Flyer

Virgin Australia will expand its frequent flyer Velocity program, which has about 3 million members.Velocity has been growing through reciprocal arrangements with alliance partners such [...]

POSTED ON April 4, 2012
May rate cut looks likely

The RBA left the cash rate on hold at 4.25 per cent yesterday for the third consecutive month while sending a clear message that economic [...]

POSTED ON April 4, 2012
Refinancing boom predicted for 2012

More than one in five borrowers are looking to refinance their home loan according to a survey by Galaxy Research, on behalf of LJ Hooker [...]

POSTED ON April 3, 2012
One quarter opting for fixed rates

About 25 per cent of consumers who took out or refinanced a home loan last month using Australian Finance Group fixed their interest rates. That [...]

POSTED ON April 3, 2012
Competition driving mortgage discounting

The days of discounted mortgages could be coming to an end. Suncorp’s general manager intermediaries - retail bank Steven Heavey said ongoing funding pressures had [...]

POSTED ON March 30, 2012
Account fees and mobile access is most important

Banks looking to improve their retail customer satisfaction scores should get rid of monthly account-keeping fees and improve their mobile phone access. Banking researcher RFi [...]

POSTED ON March 28, 2012
Aggressive consumers want the best rates

“Consumers are price sensitive and want to find the best deals from their banks,” said RFi’s director of consulting Alan Shields. For example, 67 per [...]

POSTED ON March 27, 2012
One third of Aussies use mobile phone banking

A KPMG study has found Aussies are not taking to mobile banking. The 31-country survey found just 36% of Australians use mobile banking, compared to [...]

POSTED ON March 26, 2012
RBA warns banks not to raise rates again

Australian Bankers' Association chief Steven Munchenberg said banks needed to balance the interests of savers and people borrowing money for houses or running a business. [...]

POSTED ON March 23, 2012
Big banks all cut term deposit rates

The top four banks have each cut 20 basis points off their three-month term deposit rates since the start of the year. Longer-term savings rates [...]

POSTED ON March 23, 2012
Borrowers happy with higher LVRs

Australians are becoming more comfortable carrying higher levels of debt, even as they continue to save at near-record levels.Genworth's Streets Ahead survey of homebuyer confidence [...]

POSTED ON March 22, 2012
Managing term deposits to get best returns

In a review of the term-deposit market in 2010, the Australian Securities and Investments Commission found a significant proportion of term deposits rolled over from [...]

POSTED ON March 21, 2012
Term deposit rates going up

The best rates in the term deposit market at the moment are being offered on six-month terms. The top rate for that term is 5.95 [...]

POSTED ON March 21, 2012
Westpac is the favourite big bank for business

Westpac has the highest rating of the Big Four among business customers. According to Roy Morgan Research’s business satisfaction survey, Westpac’s satisfaction rating, at 68.9 [...]

POSTED ON March 20, 2012
RBA says beware of high LVR loans

Commonwealth Bank, NAB and Westpac reduced deposit requirements to 5 per cent on some home loans this month. RBA head of financial stability Luci Ellis [...]

POSTED ON March 19, 2012
Police & Nurses CU to become a bank

Police & Nurses has flagged plans to change its name to P&N Bank. The credit union announced it was in discussions with the Australian Prudential [...]

POSTED ON March 19, 2012
Premium credit cards have best rewards says RBA

In response to RBA credit card fee reforms, banks have targeted premium offerings in credit cards, such as platinum categories, where they can charge higher [...]

POSTED ON March 19, 2012
Time running out for good fixed rate loans

The fixed rate boat will soon set sail, 1300HomeLoan managing director John Kolenda has claimed.“Last month was probably the best time to consider fixing as [...]

POSTED ON March 15, 2012
NAB customers open accounts on their mobile

NAB’s UBank clients can open their own account with no help from staff in less than five minutes. UBank has more than 200,000 account holders [...]

POSTED ON March 15, 2012
Suncorp, Citi, Bankwest & AMP picking up mortgage

AFG's NSW state manager Chris Slater said Suncorp Bank, Citibank, Bankwest and AMP Bank had all dramatically increased their volumes over the past month.Mr Slater [...]

POSTED ON March 14, 2012