Secured personal loans: How safe are they?

Are secured personal loans ‘safer’ than unsecured personal loans? A secured personal loan is ‘secured’ against an asset and therefore presents less risk for the [...]

POSTED ON February 27, 2020
Rewards vs no frills credit card

Everyone wants free flights around the world delivered by their credit card for spending on items they would normally buy anyway. This is the dream [...]

POSTED ON April 29, 2016
Big changes ahead for small personal loans

The payday lending and consumer leasing industries faces an overhaul if the Government accepts the recommendations of the Review of Small Amount Credit Contract Laws. [...]

POSTED ON April 20, 2016
Would you borrow money off Facebook?

Currently there are hundreds of reputable personal loan providers competing for your business. They use credit reference files and credit scores to price and approve [...]

POSTED ON April 19, 2016
Is now a good time for a fixed rate home loan?

Australian home loan borrowers traditionally favour variable rate mortgages. However, investors are more likely than owner-occupiers to choose a fixed rate home loan. Even when [...]

POSTED ON April 8, 2016
You can save $5,000 this year

It’s easier than you think to become a better saver. Here are some ideas to help you save $5,000 this year: 1.   Check all your [...]

POSTED ON March 11, 2016
How loving couples can manage their money

Couples need to be open and honest about managing their money but also retain their own financial identity. A three-part system for controlling money can [...]

POSTED ON March 11, 2016
What is a good credit card interest rate?

There are many hundreds of credit card deals now available in Australia. Because of increasing competition, the deals that consumers can get are increasingly enticing. [...]

POSTED ON March 10, 2016
How much money do I need to save?

Australians have been saving around 10 per cent of their household income for about the last five years. In recent months that savings rate has [...]

POSTED ON March 9, 2016
How to improve your credit score…

If you need to improve your credit report, trying taking these steps: Step 1: Resolve any outstanding issues with past lenders, billers or creditors Step [...]

POSTED ON March 3, 2016
It has never been easier to change banks …

It has never been easier to switch your everyday transaction banking account to a new bank. You might think the process of chaining all your [...]

POSTED ON February 25, 2016
Transaction account is about to get a lot better

Transaction banking accounts come with debit cards that work on the Eftpos payments network and the Pay Anyone interbank transfer networks. These accounts and cards [...]

POSTED ON February 24, 2016
Five things NOT to put on a credit card

Some things are not meant to be paid for with a credit card. Here are five: A wedding - brides and grooms can spend years [...]

POSTED ON February 22, 2016
Bendigo most popular bank

A survey released by consumer groups shows that Bendigo Bank continues to provide industry-leading customer satisfaction levels. Bendigo Bank recorded the highest overall satisfaction score [...]

POSTED ON October 22, 2009
South West Credit open for lending

Warrnambool based credit union, South West Credit, has recorded very impressive lending and deposit growth in 2008 -2009, despite difficult financial and economic conditions for [...]

POSTED ON October 22, 2009
Pub/club ATMs to give limited cash

Cash withdrawals at automatic teller machines located in gambling venues nationwide would be limited to $200 per person, per day, if the draft report of [...]

POSTED ON October 22, 2009
Contactless cards cause confusion

Retailers and customers are confused by chip and contactless credit cards, the Smartcards and Innovative Payments Conference in Canberra was told yesterday. “The customer is [...]

POSTED ON October 21, 2009
ANZ puts retirement bankers in every branch

ANZ announced it would progressively introduce retirement bankers at every ANZ branch nationally by mid 2010 to provide specialist banking to customers approaching or at [...]

POSTED ON October 21, 2009
Low interest loans get a boost

The National Australia Bank (NAB) today welcomed the Federal Government’s commitment to provide $18.5 million in funding to Good Shepherd Youth & Family Service and [...]

POSTED ON October 21, 2009
Deposit takers slow to pass on higher rates

There might be intense competition for retail deposits but financial institutions in Australia have been slow to change the rates on their high-yield online savings [...]

POSTED ON October 20, 2009
Split rates decision at NAB

NAB increased the rate on its iSaver account but its online offshoot, UBank did not change the rate on its USaver account following the increase [...]

POSTED ON October 20, 2009
Term deposit rate tactics vary

In the term deposit market, there is a wide range of rate movements following the increase in the RBA cash rate earlier this month. BankWest [...]

POSTED ON October 20, 2009
UBank: the last of the big bank online brands

Efforts by banks big and small in Australia to establish a secondary consumer brand have all petered out with disappointing returns. ANZ’s managing director retail [...]

POSTED ON October 19, 2009
NAB opens the door to big rate rises

Yesterday’s fee cut announcement from NAB opens the door to further increases in rate margins for the banks. Moving standard variable mortgage rates up by [...]

POSTED ON October 16, 2009
Consumers prefer eftpos to credit

Consumers are continuing to pay off their credit cards and use their debit cards for spending. The value of purchases and cash advances on credit [...]

POSTED ON October 16, 2009
NAB abolishes monthly account fees

National Australia Bank announced the end of monthly service fees on everyday personal transaction accounts yesterday. The current $4 and $5 monthly account service fees [...]

POSTED ON October 16, 2009
Other banks reject more fee cutting

Consumer advocates and the federal government yesterday called for the other big banks to match NAB and abolish monthly account keeping fees. "There's no doubt [...]

POSTED ON October 16, 2009
NAB playing catch up in deposit market

NAB is cutting account fees because it has fallen well behind the other big banks in the retail deposit market. “We are delighted to continue [...]

POSTED ON October 16, 2009
Home loan borrowers go back to basics

The popularity of fixed interest rate loans across Australia has continued to drop, according to September 2009 data from big mortgage broking chain, Mortgage Choice. [...]

POSTED ON October 15, 2009
Borrowers turn against fixed rates

Fixed rate loan demand dropped from 7% of new home loan approvals in August to less than 5% in September according to Mortgage Choice senior [...]

POSTED ON October 15, 2009
Banks to know everything about you

New privacy laws being proposed to be introduced next year will allow banks and other lenders to see a credit applicant’s entire financial history of [...]

POSTED ON October 15, 2009
Your credit file is about to get screened

The Australian government will introduce five new pieces of data into consumer credit reports, adopting all the recommendations of the Australian Law Reform Commission for [...]

POSTED ON October 15, 2009
Pay with a wave at IGA supermarkets

From October onwards, MasterCard PayPass and Visa payWave cardholders paying for goods less than $100 need only tap their debit or credit card on a [...]

POSTED ON October 15, 2009
20 per cent struggling with repayments

The Reserve Bank’s aggressive interest rate cutting has helped keep loan arrears and defaults to a minimum over the past year but almost one in [...]

POSTED ON October 14, 2009
Aussie John says check your rates

Chairman of Aussie Home Loans, Mr John Symond, today called for borrowers to look for a better loan deal for themselves following the Reserve Bank’s [...]

POSTED ON October 14, 2009
Fake mortgages net millions

Increasing numbers of home owners are becoming victims of fraud as criminals steal their identity and take out mortgages in their name. "What we're seeing [...]

POSTED ON October 14, 2009
St George launch savings account for Gen Y

St.George Bank has launched a new savings product, St.George SENSE, designed to help people master their personal finances and save more through tools such as [...]

POSTED ON October 13, 2009
First home saver accounts a fizzer

The Housing Industry Association has called on the Government to do more to promote its First Home Saver Account initiative, declaring that the scheme has [...]

POSTED ON October 13, 2009
All deposits are guaranteed

All deposits up to $1 million or less are automatically guaranteed under the Government’s Financial Claims Scheme. The ABA is concerned that media reports are [...]

POSTED ON October 13, 2009
Gen Y shares cash but can’t save it

Research commissioned by St.George Bank into the spending and savings habits of 1,000 Australians aged 18-29 years has found that many of the Gen Ys [...]

POSTED ON October 13, 2009
Innovative mortgages signal change

Competition is returning to the mortgage market and that will intensify as borrowers look for a better deal when their loan costs go up. Bankwest [...]

POSTED ON October 12, 2009
Average repayments to rise by $375/month

Variable home loan interest rates have started to rise, and are destined to rise a lot further in the next 12 months. The Reserve Bank [...]

POSTED ON October 12, 2009
Westpac deposit rates hit new high

Westpac announced it is increasing its standard variable home and business lending interest rates, credit card rates and selected personal and business deposit rates in [...]

POSTED ON October 12, 2009
RAMS adds extra to rate rise

Rams Home Loans raised their standard variable interest rate by 35 basis points on Friday, and may be the first lender to do so. Rams, [...]

POSTED ON October 12, 2009
ANZ cuts more account fees

ANZ is removing of a range of fees for “Do It Yourself” (DIY) phone, internet and mobile phone banking as part of a new, simplified [...]

POSTED ON October 12, 2009
CBA selling women’s diary

The Commonwealth Bank, in partnership with the Breast Cancer Institute of Australia (BCIA), is encouraging Australians to purchase a 2010 Australian Women’s Health Diary from [...]

POSTED ON October 12, 2009
Rate rises: CBA refusing to go first

Commonwealth Bank and NAB are resisting pressure to announce their rate rise intentions as all four big banks seem to be stuck in a standoff [...]

POSTED ON October 8, 2009
CUA tops customer satisfaction survey

CUA is Australia’s top financial institution when it comes to everyday banking satisfaction, according to a recent independent survey by consumer groups. CUA had the [...]

POSTED ON October 8, 2009
CUA losing members

Australia’s largest credit union, CUA, is losing members despite investing in a slick marketing campaign featuring high-profile TV celebrities and scoring well in customer satisfaction [...]

POSTED ON October 8, 2009
Prepare for Rate Rise or Risk Needing a Second Job

Leading banking comparison site has warned many Australians are inadequately prepared to cover the rising costs of home loan repayments following the anticipated return [...]

POSTED ON October 7, 2009
Prepare for Rate Rise or Risk Needing a Second Job

Leading banking comparison site has warned many Australians are inadequately prepared to cover the rising costs of home loan repayments following the anticipated return [...]

POSTED ON October 7, 2009
Term deposit rates at record highs

One-year term deposit yields are currently paying up to three per cent over the RBA’s benchmark cash rate. “There are some very attractive one-year rates [...]

POSTED ON October 7, 2009
Complaints soar about mortgages and margin loans

The number of complaints against banks, financial institutions, advisors and insurers has soared to record levels never seen before. The financial ombudsman service is scrambling [...]

POSTED ON October 7, 2009
Savers want good rates and no fees

Bank customers are fed up with fees on savings accounts and want to be rewarded with higher rates for saving regularly, according to a new [...]

POSTED ON October 2, 2009
ME’s Online Savings Account ahead of the pack

ME Bank’s Online Savings Account has won the Australian Financial Review Smart Investor Blue Ribbon Awards 2009, Overall Savings Account Category. Savings products from over [...]

POSTED ON October 1, 2009
Variable rate mortgages going up

While the major lenders have so far held off raising rates, a couple of small regional lenders have not been able to hold their standard [...]

POSTED ON September 30, 2009
NSW and Victorian credit unions to merge

Consolidation at the upper end of the credit union sector continues to gather pace. The boards of mecu, based in Melbourne, and Teachers Credit Union, [...]

POSTED ON September 30, 2009
Mortgage brokers run off their feet

More than forty per cent of all home loan borrowers sourced their loan through a mortgage broker in June, up from 30 per cent in [...]

POSTED ON September 30, 2009
ING says please use Eftpos cash out

The bank’s new transaction account, Orange Everyday will offer to rebate ATM direct charges (anywhere from $1.50 to $2) at any ATM the customer uses [...]

POSTED ON September 30, 2009
Rates are dangerously low says RBA

The Reserve Bank governor, Glenn Stevens, told the Senate economics committee in Sydney yesterday that interest rates were now at unusually low levels to fight [...]

POSTED ON September 29, 2009
ING DIRECT pays customers to bank

ING DIRECT has launched Orange Everyday, a new transaction account that is not only fee-free, but will instantly reimburse any related ATM owner fees for [...]

POSTED ON September 29, 2009
Banks developing mobile banking

Mobile phone banking is potentially safer for customers away from home than internet banking because the customer is using their own device. NAB is introducing [...]

POSTED ON September 29, 2009
Auction frenzy as grants phase out

A record number of auctions were held in Sydney on the weekend, the last weekend of the first home owner’s boost. The boost will reduce [...]

POSTED ON September 28, 2009
Record number of Sydney auctions

There were 690 auctions held in Sydney on the weekend, a new record, up from 437 last week and 374 on the same weekend last [...]

POSTED ON September 28, 2009
Penalty fee cuts pressure mortgage rates

Westpac has made the deepest cuts to penalty fees out of the four big banks according to analysis by brokerage Citigroup. Westpac is expected to [...]

POSTED ON September 25, 2009
Last weekend for boosted first home grants

The first home buyers boost will halve on October 1 leaving first home buyers who want to take advantage of the full boosted grant just [...]

POSTED ON September 25, 2009
Deposit guarantee may end early

A meeting of the federal government’s peak finance policy body, the Financial Regulators Council, last week canvassed early exit strategies from the bank deposit guarantee [...]

POSTED ON September 25, 2009
Regional NSW tops home loan arrears list

The top trouble spot for home loan arrears in Australia is “regional Illawarra”, beyond the boundaries of the city of Wollongong, and perhaps including the [...]

POSTED ON September 25, 2009
We need financial advice

Only about one third of Australians ever access financial advice, yet the need for advice is greater than ever before. Sixteen per cent of households [...]

POSTED ON September 24, 2009
Queensland banks are open for business

Queensland businesses are continuing to borrow and Queensland banks are continuing to lend in further evidence that the financial crisis has been short lived and [...]

POSTED ON September 23, 2009
NAB still least popular business bank

Business banking customers are generally more satisfied with their bank than they were a few years ago but in recent months satisfaction ratings have declined [...]

POSTED ON September 23, 2009
Fixed rates back in fashion

The number of fixed rate mortgages being sold by banks has recovered from an all time low of 1.9 per cent of all loans sold [...]

POSTED ON September 22, 2009
First home buyers have plenty to learn

The NAB First Home Buyers survey reveals that over two thirds of respondents (67%) looking to buy their first property expect to have help from [...]

POSTED ON September 22, 2009
ANZ to charge up to ten fees in a row

Penalty fees are being changed, but not exactly lowered, at ANZ as the bank catches up with reform of this controversial suite of fees instigated [...]

POSTED ON September 21, 2009
Auctions delivering for vendors

Auction results in capital cities continued to show improved results for vendors. In Sydney on the weekend, 72 per cent of 432 residential properties listed [...]

POSTED ON September 21, 2009
Virgin/Citibank take on the big four

Virgin Money will team with Citibank to take on the big four banks and create new credit cards, retail deposit accounts and mortgages. Virgin captured [...]

POSTED ON September 21, 2009
CBA asks ATM customers to return extra cash

Seventy five per cent of customers of the Commonwealth Bank ATM in Campbelltown, NSW have returned the extra cash that was mistakenly dispensed by the [...]

POSTED ON September 21, 2009
Aussies paying off the credit card

Australians continue to pay down their credit card debt with repayments in July 2009 at $19.839 billion - up $546 billion from June. This reduced [...]

POSTED ON September 18, 2009
Credit Unions increase deposits and lending

Figures issued by the Australian Prudential Regulation Authority (APRA) show that credit unions increased housing loans by 10.3 per cent in the year to 30 [...]

POSTED ON September 18, 2009
Heritage offers investors 10% for 5 years

Heritage Building Society today announced the launch of an ASX listed subordinated debt transaction, to raise approximately $30 million, with the ability to raise more [...]

POSTED ON September 18, 2009
How to reduce your bank fees

Bank fees can be very confusing.  With several banking products available in the market, and with different terminologies used to describe the nature of the [...]

POSTED ON September 17, 2009
Buyers told to beware auction emotions

High auction clearance rates should ring warning bells for many buyers who want to find a bargain priced home or investment property. Few buyers have [...]

POSTED ON September 17, 2009
CUA to expand customer services

CUA, Australia’s largest credit union expects to enhance and expand its suite of products and services in 2010. The credit union also continued to prove [...]

POSTED ON September 17, 2009
ANZ Portfolio – 1 loan for everything

ANZ Portfolio is a flexible, convenient way to structure your home and investment lending under a single limit. It enables you to put your equity [...]

POSTED ON September 17, 2009
Commonwealth Bank rejigs its’ credit cards

The Commonwealth Bank is transforming its credit cards suite to offer more rewards, better value and to recognise customer relationships with the relaunch of Commonwealth [...]

POSTED ON September 16, 2009
Deposits flowing into credit unions

Credit unions increased deposits by 14 per cent over the 2008/2009 financial year to $40.4 billion, a faster rate of growth than that reported by [...]

POSTED ON September 16, 2009
Banks give business instant cash flow tools

Since the onset of the economic slowdown, small businesses have experienced more problems than usual in collecting on invoices in a timely manner, affecting their [...]

POSTED ON September 16, 2009