How to pay off your personal loan faster

When you’re looking for a personal loan, as well as asking yourself “How much can I borrow?”, you also think about how long it’s going [...]

POSTED ON December 3, 2019
First lender passes on full RBA rate cut

Non-bank lender announces amazing new super-low comparison rate The Reserve Bank of Australia has just announced an historic cut in the official cash rate (OCR) [...]

POSTED ON June 4, 2019
NAB does the right thing

NAB is the second of the major banks to announce changes to their suite of products and services. Following the RBA's announcement to increase the [...]

POSTED ON December 3, 2009
Banks set the new rate setters

All banks are likely to raise rates on their standard variable mortgages by more than the Reserve Bank’s rate movements many times over the next [...]

POSTED ON December 3, 2009
Rate rise nets $230M for Westpac

Westpac is expected to rake in about $230 million extra in interest rate charges from its’ home loan customers as a result of moving rates [...]

POSTED ON December 3, 2009
Anger building against Westpac

The Treasurer Wayne Swan again criticised Westpac’s decision to raise rates on its standard variable mortgage products by 0.20 per cent more than the Reserve [...]

POSTED ON December 3, 2009
Salary package a new car with ME

ME Bank and Leasexpress have released a new loan type product allowing employees to salary package new and demonstrator vehicles. Known as a novated lease [...]

POSTED ON December 3, 2009
Bouris returning to mortgages

Mark Bouris, one of the founders of Wizard Home Loans, is working on a re-entry to the home loan market. Bouris said he had been [...]

POSTED ON December 3, 2009
Get the Banks to Reward you this Christmas

With Christmas just around the corner, consumers are forecast to embark on a spending frenzy and wave around their plastic for gifts, entertainment, food, drinks [...]

POSTED ON December 2, 2009
Deposit rates are historically high

The big four banks have historically high, and probably unsustainable, market leading rates on at-call and term deposits. Yesterday Westpac made a grab for one-year [...]

POSTED ON December 2, 2009
Westpac gives borrowers a slap in the face

The Reserve bank has raised official interest rates by 0.25 per cent for the third month in row, taking the official cash target rate to [...]

POSTED ON December 2, 2009
Westpac puts rates up across the board

Westpac has raised rates on a wide range of loans and deposit products. The standard variable home lending rate is up by 0.45% reflecting continuing [...]

POSTED ON December 2, 2009
RBA may hold rates here

The Reserve Bank of Australia may decide to leave the official cash rate where it is now set - at 3.75 per cent for the [...]

POSTED ON December 2, 2009
House prices going up but due to fall back

Australia‘s housing market bounced back strongly in the month of October after little growth in September according to research by RP Data-Rismark. Australian home values [...]

POSTED ON December 2, 2009
Sydney Melbourne house prices outperforming

In the three months to end October, home values in Melbourne and Sydney have outperformed most other capitals rising by 4.5 per cent and 3.2 [...]

POSTED ON December 2, 2009
Westpac borrowers jipped an extra 0.20%

Westpac is the first the major banks to announce rate changes on their suite of products, following the Reserve Banks decision to increase the official [...]

POSTED ON December 1, 2009
Deposits flowing to NAB

While other big banks reported negligible growth for the month of October 2009, NAB reported growth of 1.2 per cent in household deposits. CBA reported [...]

POSTED ON December 1, 2009
D-Day for Latrobe Credit Co-op members

La Trobe Country Credit Co-operative (LCCC) member and account information was integrated with CUA systems on 30 November 2009. Access codes are encrypted to ensure [...]

POSTED ON December 1, 2009
Aussie banks face Dubai debt defaults

All of Australia’s big four banks are financially exposed to possible debt defaults in Dubai however all say they are not going to be materially [...]

POSTED ON December 1, 2009
Loan repayments to go up tomorrow

An interest rate rise on Tuesday, 1st of December will not cool the red hot property market say agents. The Reserve bank of Australia is [...]

POSTED ON November 30, 2009
Sydney property prices to slow down in 2010

Sydney's median house price has risen to a record $569,000. The Sydney property market is enjoying a boom period of strong price growth and excellent [...]

POSTED ON November 30, 2009
Credit card rates rise

Interest rates charged on credit cards fell much less than the official cash rate over the last 18 months as the RBA cut rates by [...]

POSTED ON November 30, 2009
NAB rolls out contactless Visa cards

National Australia Bank’s credit card customers will now be able to enjoy the speed and convenience of NAB Visa payWave contactless technology to help them [...]

POSTED ON November 30, 2009
Melbourne cracks 1000 auctions

There were more than 1,000 residential property auctions held in Melbourne on Saturday. 74 per cent of the 1054 properties put up for auction sold [...]

POSTED ON November 30, 2009
Customers like St George and ING Direct

Two retail banking customer satisfaction surveys out this week, Roy Morgan’s monthly report for October, and the September quarter Nielsen Financial Services Monitor, show an [...]

POSTED ON November 27, 2009
Customers like CBA, not NAB

Commonwealth Bank had the highest increase in satisfaction among the big five banks, according to Nielsen, with a 3.7 point increase over the quarter. Nielsen [...]

POSTED ON November 27, 2009
Borrowers to pay for new bank rules

Borrowers will pay an extra 0.15 to 0.20 per cent on the prices of their loans from banks if the government insists on imposing new [...]

POSTED ON November 27, 2009
ANZ targets Chinese Australians

ANZ has announced the introduction of specialist Asian Banking Managers based in 16 branches across Australia who will offer greater assistance to customers of Chinese [...]

POSTED ON November 27, 2009
The Daily Telegraph’s Home Buyer Survey

After cutting official interest rates to 50-year lows, the Reserve Bank of Australia has begun raising again. The official cash rate has increased by 0.25% [...]

POSTED ON November 26, 2009
RBA likes high house prices

The Reserve Bank deputy governor, Ric Battellino, told a housing conference yesterday to expect higher house prices in the future as the economy improves and [...]

POSTED ON November 26, 2009
First home buyers need huge deposit

A first home buyer today needs about twice the deposit amount that a first home buyer needed just 15 years ago. Rising house prices had [...]

POSTED ON November 26, 2009
Big four losing mortgage marketshare

Consumer preferences may be shifting in the mortgage market, with demand no longer so strong for loans from the four major banks. Home loan broker [...]

POSTED ON November 26, 2009
ME says beware of refinancing traps

It makes good financial sense to look for ways to lower the cost of your existing mortgage. ME Bank advises that borrowers be wary of [...]

POSTED ON November 26, 2009
Boomers and retirees are renovating

Around half of all housing finance is for alterations and renovations said the deputy governor of the Reserve Bank, Ric Battellino. "Almost half of all [...]

POSTED ON November 26, 2009
Farmers and bankers defaulting on ANZ loans

Agribusiness, consumer, property and smaller financiers were the most problematic categories of borrower for ANZ in the half year to September 2009, the bank’s latest [...]

POSTED ON November 26, 2009
Banks face ratings downgrade

Australian banks are under capitilised with not enough spare cash available to cover their lending exposures says ratings agency Standard & Poor’s. S&P rated the [...]

POSTED ON November 25, 2009
Banks need to come clean over Storm

The parliamentary committee investigating the failure of the Queensland based financial planning firm Storm Financial says all banks that lent to Storm clients have to [...]

POSTED ON November 25, 2009
We love credit again

Aussies spent more on credit cards, and paid off more of their credit balances, in September, new figures from the Reserve Bank show. Australians spent [...]

POSTED ON November 24, 2009
More ID checks for PayPal accounts

PayPal account holders could face more checks and verification of their identity because the company has been forced to appoint an independent expert to review [...]

POSTED ON November 24, 2009
Savings rewards for primary school kids

Commonwealth Bank’s reinvigoration of school banking for primary schools will improve the financial literacy of more than one million Australian school children over the next [...]

POSTED ON November 24, 2009
Aussies aren’t selling their homes

Older Australians are staying put and not selling their homes, making life hard for younger first home buyers, a Commonwealth Bank housing study has found. [...]

POSTED ON November 23, 2009
Sydney auctions show improvement

Sixty five per cent of 444 residential properties listed for auction on Saturday sold on the day, up from last week’s results (64 per cent [...]

POSTED ON November 23, 2009
Eftpos goes to the Doctor

Have you been asked by Medicare recently to provide your bank account details? More than half a million Queenslanders have provided their bank details to [...]

POSTED ON November 23, 2009
NAB’s no-interest loans and cash for savers

Another program sponsored by a big bank in partnership with a charity is NAB’s AddsUp Savings Plan, which is being offered in partnership with GoodShepherd [...]

POSTED ON November 23, 2009
ANZ’s SaverPlus giving away cash

The Saver Plus program was developed by ANZ and the Brotherhood of St Laurence in 2002. Other charities are also involved in the program that [...]

POSTED ON November 23, 2009
Five million Aussies choose PayPal

PayPal will sign up every single Australian merchant now selling anything online within the next couple of years, if the new managing director meets his [...]

POSTED ON November 23, 2009
Plenty of competition in mortgages says RBA

Assistant Governor of the Reserve Bank, Guy Debelle said competition in the mortgage market would remain stiff enough to stop banks from widening their margins [...]

POSTED ON November 20, 2009
Country ATMs charging $2.50

The fee for using an independently owned ATM is on the rise in distant locations. Customers Limited, the largest owner of ATMs, says its fees [...]

POSTED ON November 20, 2009
Using PayPal to buy nappies

PayPal will sign up every single Australian merchant now selling anything online within the next couple of years, if the new managing director meets his [...]

POSTED ON November 20, 2009
Use your Bendigo MasterCard and win

You could be laughing all the way to the bank this festive season thanks to Bendigo Bank and MasterCard. Simply make a purchase using your [...]

POSTED ON November 20, 2009
ME personal loans very very cheap

Whether you're borrowing for practical reasons or pure indulgence, a low cost Personal Loan is the smart way to finance a major purchase. ME Bank’s [...]

POSTED ON November 20, 2009
RBA divided on rate rises

Some economists are predicting that the Reserve Bank may pause its rate rising agenda in December and hold the official cash rate at 3.5 per [...]

POSTED ON November 19, 2009
Suncorp car loan looks competitive

A Suncorp secured car loan of $5,000 or more is currently charging a fixed rate of interest of 10.75 per cent, making it one of [...]

POSTED ON November 19, 2009
Third rate rise coming in December

Financial markets have priced in a 60 per cent chance that the Reserve Bank of Australia will lift its cash rate for an unprecedented third [...]

POSTED ON November 18, 2009
Big correction in house prices coming

The great Australian dream of home ownership is slipping away leaving a major economic and social problem for future governments and the threat of a [...]

POSTED ON November 18, 2009
Darwin records highest rental yields

Rental rates appear likely to increase as interest rates increase and first home buyer activity declines according to research by rpdata.com Senior Research Analyst Cameron [...]

POSTED ON November 18, 2009
ING pays 50 cents for cash outs

ING Direct’s Orange Everyday account offers fee free everyday banking with bonuses and rebates to encourage savings. Orange Everyday is an online transaction account, offering [...]

POSTED ON November 18, 2009
Young people in perpetual debt

Generation Y (people aged under about 30 years of age) are likely to have more problems paying off debts than young people have had in [...]

POSTED ON November 18, 2009
Pay growth falls to 2.9 per cent

Total pay growth over the 12 months to November 2009 fell to 2.9 per cent from 4.1 per cent in the 12 months to August. [...]

POSTED ON November 18, 2009
Banks still raking in the fees

Infochoice chief executive Shaun Cornelius said the big four banks will only lose a small amount of their fee income. He said Infochoice predicted $4.5 [...]

POSTED ON November 17, 2009
First home buyers need more savings

Almost one third of first home buyers who enquire about getting a loan will be rejected because they don’t have enough savings according to a [...]

POSTED ON November 17, 2009
Cash account good for super

DIY Super Funds and Trusts can earn a high variable interest rate on the cash component of self managed superannuation with an at-call Business Optimiser. [...]

POSTED ON November 17, 2009
Fix your bad credit file now

A bad credit file can cost a lot in the long term. If you haven’t paid bills, or if you've had your power cut off, [...]

POSTED ON November 17, 2009
Banks and government need to work together

ANZ Banking Group chief executive Mike Smith’s annual pay for the financial year ending June 2009 fell by 16 per cent to $10.9 million as [...]

POSTED ON November 17, 2009
Bank chief’s pay to be limited

The banking industry regulator, the Australian Prudential Regulation Authority, is considering forcing banks to limit short-term bonus payments to executives while the Productivity Commission is [...]

POSTED ON November 17, 2009
Melbourne auction clearances still above 70%

Sydney’s auction results are steady this week with clearance rates and volumes broadly the same as last week. 64 per cent of 408 residential properties [...]

POSTED ON November 16, 2009
St George: Bank of the year

St.George reported strong customer metrics for the year ending June 2009, retaining its comfortable lead over the majors on both customer satisfaction (76.6 per cent [...]

POSTED ON November 16, 2009
Online Savers slow to raise rates

A large number of institutions are yet to change their standard variable rates on their online savings accounts. According to Infochoice, of the 53 banks, [...]

POSTED ON November 13, 2009
Bonus saver account offers 5.25 per cent

Among the institutions promoting bonus saver accounts, HSBC is offering five per cent on its Serious Saver account. The rate is an introductory offer until [...]

POSTED ON November 13, 2009
Most banks shedding branches

ANZ, NAB and Commonwealth all lost branches during the financial year ending June 2009, as did the mutual sector. Westpac/St George expanded during the year, [...]

POSTED ON November 13, 2009
Credit Unions want young people

Some institutions in the mutual sector have lost members in the last year and many are having extreme difficulty in attracting new members. Of particular [...]

POSTED ON November 13, 2009
Rates heading up says Commbank

The Commonwealth Bank expects official interest rates to be 4.5 per cent within one year and will not rule out raising rates on its own [...]

POSTED ON November 12, 2009
Mecu wins awards and happy customers

mecu, one of Australia’s largest credit unions, was one of the very few Australian financial institutions to report an increase in profit this year. mecu’s [...]

POSTED ON November 12, 2009
Credit costs to go up under new rules

The cost of credit and loans to consumers will rise if the Australian government adopts new global rules governing bank liquidity say the Commonwealth Bank. [...]

POSTED ON November 12, 2009
CBA wants to be the good guy

Commonwealth Bank's target is to become the number one ranked bank for customer service by June 2010, said CEO Ralph Norris yesterday at the bank’s [...]

POSTED ON November 12, 2009
Credit unions delivering better deals

More than 4.3 million Australians are members of a credit union or mutual building society. “Mutual financial institutions offer Australians a better banking deal with [...]

POSTED ON November 11, 2009
Banks slug small business

Interest rate margins on small business loans have increased greatly over the last two years. In 2007 loans to small and medium sized businesses from [...]

POSTED ON November 11, 2009
CBA travel card holds six currencies

Commonwealth bank has launched a travel MasterCard that can hold funds in up to six currencies including United States Dollars, Euros, Great British Pounds, Australian [...]

POSTED ON November 11, 2009
Heritage delays rate rises until 2010

Australia’s largest building society, Heritage, has announced an increase in interest rates on all variable rate loans following the Reserve Bank of Australia’s (RBA) decision [...]

POSTED ON November 10, 2009
Voluntary recall for NAB Amex card

National Australia Bank today acknowledged the concerns of the Australian Securities and Investments Commission (ASIC) in relation to the launch of its NAB Qantas Gold [...]

POSTED ON November 10, 2009
Higher rates are coming soon

The Reserve Bank of Australia has upgraded its economic forecasts, raising expectations that interest rates will be raised higher over coming months. On Friday the [...]

POSTED ON November 9, 2009
Auction results fall back slightly

There were 401 residential property auctions held in Sydney over the weekend, with 60 per cent producing a sale. Those results are slightly down on [...]

POSTED ON November 9, 2009
Save now –cost of retiring going up

The aggregate costs for a couple living comfortably in retirement were up 0.7% in the June quarter 2009 compared to the March 2009 quarter, according [...]

POSTED ON November 9, 2009
NAB further abolishes fees

NAB is the first of the major banks to forego additional unfavourable bank fees on consumer accounts to help improve and strengthen customer relationships. Earlier [...]

POSTED ON November 6, 2009
UBank offers rate assurance on the USaver

UBank has committed to raising the USaver rate to at least match certain competitor deposit products until 31 December 2009. Each Friday, UBank will search [...]

POSTED ON November 6, 2009
ME Bank says we have lower fees

The decision by NAB to remove monthly account keeping fees on a few accounts is a small proportion of the total fees and commissions received [...]

POSTED ON November 6, 2009
VIDEO: InfoChoice on Today Tonight – $6bn Savings

InfoChoice, Australia's leading finance comparison site presents CEO Shaun Cornelius in an interview with Today Tonight about Infochoice's research highlighting opportunities for consumers to save [...]

POSTED ON November 5, 2009
Rudd very very concerned about rate rises

The big banks were a bit too quick to raise their standard variable mortgage rates according to the prime minister Kevin Rudd. "I do note [...]

POSTED ON November 5, 2009
Westpac winning over homebuyers

Westpac finished the year with a 23 per cent share of housing credit according to the Reserve Bank. Home loans to customers in Australia increased [...]

POSTED ON November 5, 2009
Bank profits down in 2009

Australian banks have endured the ultimate stress test of the global financial crisis to emerge strong and still delivering profits. The Australian Bankers’ Association (ABA) [...]

POSTED ON November 5, 2009
Big 4 quick to move rates

The RBA increased the official cash rate by 0.25% at it's meeting yesterday, taking the rate to 3.50%. The major banks were quick to respond, [...]

POSTED ON November 4, 2009
The RBA signals more pain ahead

The governor of the Reserve Bank issued a short statement accompanying the rate rise yesterday which made it clear there were more rises to come. [...]

POSTED ON November 4, 2009
ANZ falls back into line on rates

ANZ Bank further clarified its position on rate rises yesterday and backed even further away from an apparent pledge last week by chief executive Mike [...]

POSTED ON November 4, 2009
PayPal to take on banks in real world

Australian banks are losing the battle for the hearts, minds and wallets of today’s online generation. “Young people are a huge challenge for banks,” says [...]

POSTED ON November 4, 2009
PayPal to crush cards online

Over the next 18 months, hundreds, even thousands, of new banking and payments products and applications will appear, designed by the online generation themselves, for [...]

POSTED ON November 4, 2009
No more signatures says Visa

Visa today announced it will move to chip and PIN technology for all Australian Visa cards over the next four years, with signatures no longer [...]

POSTED ON November 3, 2009