Term deposit rate update November

Term deposit rates are under pressure as official interest rates fall closer to zero in Australia. The highest term deposit rate now on offer from [...]

POSTED ON November 12, 2019
Best credit cards for Christmas 2019

Australians love gifts. In fact, Aussies love giving more than receiving, according to recent research from the Financial Planning Association. 85 per cent of people [...]

POSTED ON November 8, 2019
Guide to first home loan deposit scheme.

Who can qualify for the First Home Loan Deposit Scheme? Your two-minute FAQ guide to the First Home Loan Deposit Scheme Whilst seasoned campaigners understand [...]

POSTED ON October 29, 2019
Which bank calculates term deposit daily?

Calculating interest daily unlocks the power of compounding. It’s a big advantage. When you invest your money in a term deposit account you know that [...]

POSTED ON October 11, 2019
What’s a good personal loan rate?

Your personal loan is a means to an end. Your way of achieving your dream – of a new (or used) car, a holiday, paying [...]

POSTED ON September 6, 2019
Does Australia need an interest rate cut?

Does Australia need an interest rate cut? Vote YES or NO https://www.facebook.com/193785440635734/posts/2667190169961903/ Should monetary policy put “People before Profits” or “Poverty before Property Prices?” The [...]

POSTED ON June 3, 2019
Cost cutting minus job cuts

Labour force figures released from the Australian Bureau of Statistics for the month of December have shown a decline in the proportion of females employed [...]

POSTED ON January 16, 2009
Uncertain times lie ahead for retail sector

Given the rough economic climate, businesses are fighting a difficult decision on whether to further attract shoppers with heavily discounted items, or to increase pricing [...]

POSTED ON January 16, 2009
Global outlook looks dim

The recent Organisation for Economic Co-operation and Development's assessment report indicates a significant weakening to the economy in coming months as major developed and emerging [...]

POSTED ON January 16, 2009
Storm warnings for Macquarie and BOQ

Macquarie Bank allowed Bendigo and Adelaide Bank to cherry pick the margin loan book that the former plans to sell to the latter, leaving Macquarie [...]

POSTED ON January 14, 2009
Mortgage arrears stable

Standard & Poor's reported that arrears on the mortgages underlying prime Australian RMBS had risen to 1.58 per cent of the value of home loans [...]

POSTED ON January 12, 2009
Personal insolvencies dip in December quarter

The number of personal insolvencies fell for the second quarter in a row during the December 2008 quarter. The Insolvency and Trustee Service Australia recorded [...]

POSTED ON January 12, 2009
Think before leaping on fixed rate loans

Homeowners with fixed rate loans stuck at a high interest rates should not panic and try to break out of the loan. Break fees are [...]

POSTED ON January 8, 2009
Beware of tax office emails

The Australian Tax Office is warning people about a fraudulent email being circulated that claims to offer a refund from the Tax Office. It uses [...]

POSTED ON January 7, 2009
First home buyers turn to brokers

One third of first home buyers expect to use a broker to find the best home loan for them according to the latest Mortgage and [...]

POSTED ON January 7, 2009
Time to tackle Xmas card debt

It will take about eight years to pay off a $1000 card debt if you only pay the minimum monthly obligation. Experts say the key [...]

POSTED ON January 6, 2009
Bank guarantee under fire

Depositors and banks will now believe that the government will always come to their rescue in the event of a bank failure says the OECD. [...]

POSTED ON January 6, 2009
Cards winning over online shoppers

BPay, Visa and MasterCard seem to be winning the war for the hearts and minds of online shoppers with PayPal and direct deposit losing market [...]

POSTED ON January 6, 2009
Foreign banks flee Australia

Foreign banks are lending less money in Australia and the big Australian banks are not expected to be able to keep up with demand from [...]

POSTED ON January 2, 2009
Aussies lose $750 billion on shares

Falling interest rates and low prices on markets, make this the right time to be buying in to equities. The fall in share values has [...]

POSTED ON January 2, 2009
Rates to plunge to two per cent

The Reserve Bank will cut official interest rates to 2.5 per cent or below next year say some economists because unemployment is expected to almost [...]

POSTED ON December 31, 2008
Card contracts can’t be understood

The government should legislate for fair terms in contracts says a welfare group because the system of full disclosure of all contract terms to credit [...]

POSTED ON December 31, 2008
Legal actions mounting up for ANZ

ANZ faces class action legal suit in the USA over the Opes Prime crisis. The action by affected US investors claims they were not informed [...]

POSTED ON December 31, 2008
Banks pushing card debt

Banks target vulnerable credit card holders in debt and offer them limit increases before Christmas and when they have just made a big purchase according [...]

POSTED ON December 30, 2008
Big trouble ahead for property trusts

The listed property trust Macquarie Office Trust has until March to refinance $75 million of debt after its bankers refused the trust a longer extension. [...]

POSTED ON December 30, 2008
Baby bonus test creates confusion

The vast majority of families will remain eligible for the new means test for the federal government's baby bonus that will come into force on [...]

POSTED ON December 29, 2008
Bank fee take goes up

Banks collected $22.6 billion in fees and charges from their customers in the year to June 30, up more than $2 billion from $20.5 billion [...]

POSTED ON December 24, 2008
Bendigo mums and dads invest more

Bendigo and Adelaide Bank's big retail shareholder base gave the bank a vote of confidence by buying $80 million of shares in the bank's capital [...]

POSTED ON December 24, 2008
Reward for information on ATM bandits

Police are investigating a number of groups after offering a $150,000 reward for information on ATM bandits who have stolen millions of dollars by blowing [...]

POSTED ON December 24, 2008
Rate cuts come too late for the repossessed

Almost 1,300 families in NSW had their properties repossessed in the first nine months of the year - before big interest rate cuts came into [...]

POSTED ON December 23, 2008
ANZ chases car loan partners

Car loans could become easier to get under an ANZ plan to forge partners in the Auto sales industry. Through its wholly-owned subsidiary Esanda, ANZ [...]

POSTED ON December 22, 2008
Banks support greenhouse plan

The Chief executive of the bankers association said banks supported the government's carbon pollution reduction scheme. "A market-based solution is likely to be the most [...]

POSTED ON December 22, 2008
Banks not passing on rate cuts to farmers

Farmers say they are not being treated fairly by their banks because they have not received the same level of interest rate relief as homeowners. [...]

POSTED ON December 22, 2008
More ATMs for BankWest and Commonwealth customers

The treasurer, Wayne Swan yesterday approved the takeover of BankWest by the Commonwealth Bank of Australia but has attached conditions to the deal. In particular, [...]

POSTED ON December 19, 2008
Pay off credit card debts first

Paying down debt is the best protection you can give yourself and your family in uncertain economic times. Debts with high interest rates, such as [...]

POSTED ON December 19, 2008
Aussie ponzi scheme eats $100 million

Queensland doctor Roger Munro is believed to have fled Australia as his investment scheme, Starport Futures, has unravelled leaving Australian and US based investors out [...]

POSTED ON December 19, 2008
Rates to fall to three per cent

National Australia Bank is now predicting interest rates will fall further than previously expected early next year. Markets are pricing in rate cuts of 1.5 [...]

POSTED ON December 17, 2008
Banks to become responsible lenders – maybe

A plain English commitment to responsible lending is the centrepiece of the final report of the independent reviewer of the banking code of conduct. The [...]

POSTED ON December 17, 2008
Loans for the self-employed dry up

Maximum loan to valuation ratios for low-doc mortgages loans have shrunk from around 80 per cent to about 60 per cent over the past year [...]

POSTED ON December 16, 2008
First home buyers face tough new loan rules

The boost given to first home buyers by the federal government's big increase in the first home buyer's grants is expected to be largely negated [...]

POSTED ON December 16, 2008
Aussie banks not exposed to Wall St fraud

Australia's big banks said yesterday they had no exposure to Bernard Madoff's investment house on Wall Street that allegedly ran a pyramid style ponzi scheme [...]

POSTED ON December 16, 2008
Big increase in online card fraud

More than one in every ten thousand card transactions was fraudulent in the year to 30 June 2008, representing more than 400,000 criminal acts, up [...]

POSTED ON December 16, 2008
Card skimming comes to Australia

After many years of having comparatively low fraud statistics on debit cards, Australia now seems to be catching up. The skimming or counterfeiting of debit [...]

POSTED ON December 16, 2008
Big rates on offer from small banks

Some smaller institutions are still offering deposit interest rates of six and seven per cent, at call, on even small amounts of cash despite big [...]

POSTED ON December 15, 2008
Non-banks will take 6 months to lend again

Non bank lenders are starting to lend again with the assistance of the federal government's $8 billion assistance scheme that has allowed them access to [...]

POSTED ON December 15, 2008
2008 property slump could continue

Auction clearance rates declined throughout 2008 after a property boom in 2007 that saw 82 per cent of properties put up for auction sell under [...]

POSTED ON December 15, 2008
Emirates takes on Qantas frequent flyers

Woolworths Everyday Rewards program customers will be able to earn Qantas Frequent Flyer points when they shop at a participating Woolworths group business from the [...]

POSTED ON December 15, 2008
Negative equity coming to a house near you

Borrowers who have 'redrawn' on the equity in their home or used 'line of credit' home loan facilities are now the most likely to be [...]

POSTED ON December 12, 2008
100 per cent home loans get scarce

Mortgage insurer Genworth Financial has tightened its underwriting standards ahead of tougher conditions in 2009. With effect from December 1, Genworth will no longer cover [...]

POSTED ON December 12, 2008
Aussies reject shares for bank deposits

More people than ever before believe that banks, credit unions and building societies are best place to invest their savings. According to the Westpac-Melbourne Institute [...]

POSTED ON December 11, 2008
Bank customers go online to complain

Complaints by consumers to the Banking and Financial Services Ombudsman jumped up 22 per cent in 2007-08 to 7,911 new cases, apparently largely driven by [...]

POSTED ON December 11, 2008
Guarantee fails to bring bank costs down

The federal government's guarantee on bank wholesale funding has failed to reduce the bank's funding costs but has allowed them to access debt on world [...]

POSTED ON December 11, 2008
Citibank collects complaints

Citigroup seems to stand out from the pack when it comes to complaints from customers received by the Banking and Financial Services Ombudsman. There were [...]

POSTED ON December 11, 2008
Cash advances go up

Australians withdrew more than one billion in cash advances from their credit cards in September, up more than 10 per cent on the previous September. [...]

POSTED ON December 10, 2008
No action on excessive exec salaries

There's not much prospect of any regulatory clamp on excessive salaries in the financial services arena, and thus little chance of action to back up [...]

POSTED ON December 10, 2008
Rate cuts not flowing through to home sales

Auction clearances were up slightly on the weekend of the 6-7 December, but still well down on the same weekend last year. In Melbourne, 48 [...]

POSTED ON December 8, 2008
Commbank chief takes over as banker’s chair

The Council of the Australian Bankers' Association (ABA) has elected Ralph Norris, Managing Director and Chief Executive Officer, Commonwealth Bank, as the new ABA Chairman. [...]

POSTED ON December 5, 2008
Card rates starting to come down

ANZ will cut rates on its Rewards and Frequent Flyer Visa credit cards by a full one per cent to 18.99 per cent from next [...]

POSTED ON December 4, 2008
Members Equity profit down, exec pay up

Members Equity Bank has raised the remuneration it gives its directors and senior executives despite posting a big fall in profits for the financial year [...]

POSTED ON December 4, 2008
Profits down in finance sector

The financial services sector is proving to be a detractor from Australia's economic growth, reversing a period of being an above-average contributor. National accounts published [...]

POSTED ON December 4, 2008
Banks hold onto big margins

No bank appears to have announced any reduction in interest rates in other lending categories such as personal loans, credit cards and overdrafts. Many business [...]

POSTED ON December 3, 2008
CBA, NAB pass on full rate cut

The Commonwealth Bank and National Australia Bank yesterday passed on the full one per cent rate cut to home loan borrowers to take their standard [...]

POSTED ON December 3, 2008
Banks issue card fraud warning for xmas shoppers

The Australian Bankers' Association (ABA) said credit and debit card safety is important when Christmas shopping and during the holiday period. There are some simple [...]

POSTED ON December 2, 2008
No application needed for Visa gift card

National Australia Bank is promoting a new Visa gift card that can be loaded, once, with between $25 and $800. Ms Lisa Palma, Head of [...]

POSTED ON December 2, 2008
Big rate cuts due this week

The Reserve Bank is expected to cut interest rates by at least 0.75 per cent tomorrow as expectations rise of zero or even negative economic [...]

POSTED ON December 1, 2008
Investors rush to bank deposits

Investors continued to choose bank deposits in October over shares and other investment options. More than $11 billion was deposited in banks, credit unions and [...]

POSTED ON December 1, 2008
Sydney buyers slugged by stamp duty

Sydney home buyers are paying higher rates of stamp duty on residential properties than buyers in other states. The BankWest residential stamp duty report shows [...]

POSTED ON December 1, 2008
ANZ, St George most popular banks

ANZ and St George customers are most likely to recommend their bank to others, among the big banks, with NAB customers least likely to be [...]

POSTED ON November 28, 2008
Only Rabo not offering guarantee

Rabobank and its wealth management arm RaboPlus will go it alone in Australia and not participate in the government deposit guarantee scheme for depositors with [...]

POSTED ON November 28, 2008
Big depositors get to opt out of guarantee

National Australia Bank said it would give customers with funds over $1 million the choice of opting out of the government guarantee. For customers who [...]

POSTED ON November 27, 2008
ANZ and Macquarie have the most bad debts

ANZ reported impaired loans of $2.7 billion at the end of the quarter, and equal to 0.5 per cent of credit exposures. NAB reported impaired [...]

POSTED ON November 27, 2008
Soft landing for house prices

House prices will not fall in Australia by as much as they have in other English speaking countries says Saul Eslake, chief economist of the [...]

POSTED ON November 26, 2008
Pensioners need $95 more per week

Aged pensioners need an extra $95 per week says the head of the Council on the Ageing. Patricia Reeve told a mass meeting of pensioners [...]

POSTED ON November 25, 2008
Queensland storm victims claim disaster pay

Centrelink has processed about 4,100 claims for Australian Government Disaster Recovery Payments and has delivered $3.2 million in payments less than a week since the [...]

POSTED ON November 25, 2008
NAB is least popular bank

National Australia Bank is now the least popular of the major banks with both retail and business customers. According to the latest TNS Business Banking [...]

POSTED ON November 25, 2008
Deposit guarantee favours big banks

The government has published its sliding scale of fees it will charge banks and credit unions for guaranteeing retail deposits over one million dollars and [...]

POSTED ON November 24, 2008
Adelaide launches guarantee account

Adelaide Bank is launching a cash management account with a margin lending facility that will give customers access to the government deposit guarantee. "The Adelaide [...]

POSTED ON November 24, 2008
First home buyers go bush

The increased first home buyer grant from the federal government is driving increased home building and buying in regional Australia, where house prices are generally [...]

POSTED ON November 24, 2008
Aboriginal home ownership scheme launched

Up to 12,000 residents currently renting homes located on sixty three former Aboriginal reserves in NSW will be given the opportunity to buy their homes [...]

POSTED ON November 21, 2008
Sharia loans hard to find

The withdrawal of GE Money from the Australian mortgage market will adversely effect the market for Islamic or sharia-compliant home loans. The largest provider of [...]

POSTED ON November 21, 2008
Traders betting on 1% rate cut

The chances of a one per cent cut in official interest rates firmed yesterday from 92 per cent to 94 per cent based on overnight [...]

POSTED ON November 20, 2008
Credit unions object to guarantee fees

The credit union umbrella organisation Abacus says the proposed three tiered fee system for the federal government’s deposit guarantee is unfair on them. Most credit [...]

POSTED ON November 20, 2008
Ethical funds performing well

Investors in ethical funds have been rewarded for having a social conscience. An AMP Henderson study of 14 ethical funds found that in the three [...]

POSTED ON November 24, 2003
Easy credit has young in deep debt

NSW teenagers now have an average debt of $3,000, a Fair Trading survey has revealed. For young people aged between 18 and 24, the debt [...]

POSTED ON November 24, 2003
Could rates ease again next year?

The Australian Business Economists survey has found that most economists believe that interest rates could start falling again by the end of 2004 as the [...]

POSTED ON November 24, 2003
ASIC warns on no-deposit loans

The Australian Securities and Investments Commission has joined the Reserve Bank in warning would-be homebuyers to be wary about getting into finance deals involving deposit [...]

POSTED ON November 21, 2003
NSW tax law hits small property entities

The NSW Government has passed its stamp duties amendments bill increasing tax on small investment entities. All trusts and companies with fewer than 300 investors [...]

POSTED ON November 21, 2003
ANCU pushes online loan envelope

Australian National Credit Union is has added an online loan application process to its website for home, personal and car loans. ANCU says the online [...]

POSTED ON November 19, 2003