Comparing Raiz vs Spaceship Voyager

Micro-investing and spare change round-up apps are getting more popular in Australia. In this article we compare two of the most popular – RAIZ and [...]

POSTED ON January 8, 2020
Trending Financial News 10 September 2019

A new Aussie bank opens its (mobile) doors Sydney-based Xinja Bank has begun marketing transaction accounts to customers after securing a full banking licence from [...]

POSTED ON September 10, 2019
Reserve Bank gets a new boss

RBA Deputy Governor Philip Lowe will take over from Glenn Stevens as the new boss of the interest rate setting Reserve Bank of Australia on [...]

POSTED ON May 6, 2016
Savings account rates are still good value

People with money in at-call savings accounts can still get a good, safe return on their money, even as interest rates are falling. Savers need [...]

POSTED ON May 5, 2016
Bank deposits are still a great investment

Continuing fall on the ASX and turmoil on global share markets mean savings accounts and term deposits are are great place for investing money. Falling [...]

POSTED ON May 4, 2016
Big banks are cutting loan rates

National Australia Bank will cut variable home loan interest rates by 0.25 per cent, effective from 16 May 2016, following the Reserve Bank’s May rate [...]

POSTED ON May 4, 2016
Interest rates hit a new record low

The Reserve Bank of Australia has cut the official cash interest rate from 2.0 per cent to a new record low of 1.75 per cent. [...]

POSTED ON May 4, 2016
Interest rates are going down

The Reserve Bank of Australia is tipped to cut the official interest rate to a historic new low in May 2016. Official interest rates in [...]

POSTED ON May 3, 2016
What is the lowest variable home loan rate now?

Home loan interest rates are starting to move after 12 months of relative stability. According to the latest calculations from financial comparison website iSelect, on [...]

POSTED ON May 3, 2016
Personal loan and card debt is falling

Australian households continue to pay down their credit card and personal loan balances, dragging down the lenders' consumer credit balances by 0.3 per cent overall [...]

POSTED ON May 2, 2016
Rates are rising for term deposit investors

Six banks and credit unions increased their term deposit rates in April 2016 by as much as 0.45 percentage points. Bank of Queensland increased its [...]

POSTED ON May 2, 2016
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
What makes a good saver?

Set your goals, make a budget and a plan. These are the key directions for anyone who wants to make a change in their life, [...]

POSTED ON April 29, 2016
Will the RBA cut interest rates in May?

National Australia Bank is the first of the country's big lenders to predict a cut to the Reserve Bank of Australia’s official cash interest rate [...]

POSTED ON April 28, 2016
Westpac stops lending to non-residents

Westpac has decided to stop lending to offshore customers who are not citizens or residents of Australia with an eligible visa. Westpac said its priority [...]

POSTED ON April 28, 2016
PM Malcolm Turnbull commits to negative gearing

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have ruled out any changes to negative gearing in the upcoming May budget. Mr Turnbull said Labor’s [...]

POSTED ON April 28, 2016
Australians want cheaper homes – NOW

76 per cent of Australians want the federal government to take action to make housing more affordable for first home buyers according to ME’s December [...]

POSTED ON April 27, 2016
How do you get your bank account statement?

ANZ is offering customers a one-off $10 credit if they kiss goodbye to receiving statements in the post. If they continue to receive hard copies [...]

POSTED ON April 26, 2016
Are the banks engaged in mortgage fraud?

Home loan fraud is widespread in the Australian banking system according to economists Lindsay David and Philip Soos. They allege fraud, particularly the massaging of [...]

POSTED ON April 26, 2016
What is a good savings account interest rate?

Savings accounts used to pay less than term deposits, but no longer. A good high interest online savings account now provides at-call access to your [...]

POSTED ON April 20, 2016
Mortgage stress hits 11 year low

According to Fitch's dinkum index, mortgage arrears decreased in the last quarter of 2015 to 0.95 per cent, the lowest fourth quarter level for the [...]

POSTED ON April 20, 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.The [...]

POSTED ON April 20, 2016
This new home loan promises rewards

Virgin Money has revealed details a new mortgage product, the Reward Me Home Loan.The variable and fixed rate Virgin Money Reward Me home loans will [...]

POSTED ON April 20, 2016
“We want to sell a better mortgage”

QT Mutual Bank and RACQ announced plans to establish a banking subsidiary within the RACQ Group for more than 1.5 million RACQ members in Queensland. [...]

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
Aussie banks are getting tough on borrowers

The Reserve Bank says Australian banks have tightened lending standards on mortgages."The tightening in lending standards has put recent borrowers on a sounder footing to [...]

POSTED ON April 18, 2016
Being unfaithful does pay – big time

Showing loyalty to your bank, like you do to your partner or football team is bad for your hip pocket. If you want to ensure [...]

POSTED ON April 15, 2016
Which big bank do owner-occupiers like?

Commonwealth Bank is the biggest mortgage lender in Australia and holds more loans to owner occupiers than any other lender.Australian Prudential Regulatory Authority figures show [...]

POSTED ON April 14, 2016
Which big bank do property investors like?

Westpac is Australia’s largest lender to property investors but reported a decline in investor loan sales last year.The latest Monthly Banking Statistics from the Australian [...]

POSTED ON April 14, 2016
Investors are changing to owner-occupier loans

Westpac is Australia’s largest lender to property investors. In the last 12 months Westpac has reported a massive 22.7 per cent surge in owner-occupied lending [...]

POSTED ON April 14, 2016
Aussie borrowers like existing dwellings

Demand for mortgages recovered in February 2016 after dropping in January according to the Australian Bureau of Statistics.56,562 home loans were approved in February, up [...]

POSTED ON April 14, 2016
Debt Agreements surge

A growing number of people are entering into debt agreements according to the latest Australian Financial Security Authority figures. The number of personal insolvencies rose [...]

POSTED ON April 14, 2016
Personal loan disruptor hits a new milestone

Society One has now facilitated $100 million in personal loans since launching in 2013. Society One reported $30 million of new lending in the March [...]

POSTED ON April 14, 2016
What is the average variable home loan rate?

Data from financial comparison website iSelect shows that, on a standard $300,000, 30-year home loan, the average variable rate is now 4.35 per cent. The [...]

POSTED ON April 13, 2016
Every woman needs a good savings account

Professor Roslyn Russell of RMIT University said  money and finances are inseparable for many women from their emotional journeys and their relationships. Some women allow [...]

POSTED ON April 8, 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
Car loan provider fined over repossessions

A Westpac-owned car loan provider Capital Finance Australia has had to pay $493.000 in penalties after breaching the National Consumer Credit Protection Act in relation [...]

POSTED ON April 7, 2016
Australians embrace refinancing with a passion

JP Morgan's Australian Mortgage Industry Survey found that the Australian mortgage market growth will be driven by refinancing in 2016. The proportion of current Australian [...]

POSTED ON April 4, 2016
Are you feeling mortgage stress?

Genworth's homebuyer confidence index fell in March, for the first time in two years. Genworth’s Streets Ahead survey reported an 11 per cent increase in [...]

POSTED ON April 4, 2016
I need money fast – with no security

If you need money to pay bills, consolidate debts or for any other worthwhile purpose but you don’t have any security to put up as [...]

POSTED ON April 1, 2016
Are home loan interest rates going to rise?

The question - Are home loan interest rates going to up? -  is always a major concern for all mortgage borrowers. Rising funding costs are [...]

POSTED ON April 1, 2016
Average savings rates are going up

Banks and credit unions are likely to compete more to attract deposits because of a recent jump in wholesale funding costs and looming regulatory changes. [...]

POSTED ON March 30, 2016
Mortgage stress is rising

The proportion of Australian housing loans in arrears has increased for the third consecutive month according to Standard & Poor’s Performance Index (SPIN). Arrears levels [...]

POSTED ON March 30, 2016
Which home lender is Australia’s favourite?

Roy Morgan Research revealed that ING Direct recorded the strongest customer satisfaction ratings of all home loan providers in February 2016. ING Direct’s home loan [...]

POSTED ON March 29, 2016
Term deposit vs shares

Term deposit interest rates have been low for many years now but are still well above inflation. Term deposit interest rates have started to rise [...]

POSTED ON March 29, 2016
Is your personal loan from a responsible lender?

Yet another lender selling small ‘payday’ loans has been caught breaching the responsible lending requirements of the Credit Act. Nimble will refund $1.5 million to [...]

POSTED ON March 24, 2016
The banking empire strikes back

There has been a massive increase in 2015 in the number of borrowers looking to refinance their mortgages according to JP Morgan. Analyst Martin North [...]

POSTED ON March 24, 2016
How much should I be saving each month?

Australians are saving more now than at any point since the 1980s. Right now, the average Australian saves $427 per month according to recent survey [...]

POSTED ON March 23, 2016
Sydney house prices are FALLING, or are they?

House prices in Sydney may finally be getting affordable. The Australian Bureau of Statistics reports that average Sydney prices fell 1.6 per cent in the [...]

POSTED ON March 23, 2016
Which bank is Australia’s favourite lender?

Among the big four banks, Commonwealth Bank has the highest level of customer satisfaction according to Roy Morgan Research with a rating of 82 per [...]

POSTED ON March 23, 2016
Offset accounts make you more resilient

Reserve Bank head of financial stability Luci Ellis said the popularity of offset accounts made households more resilient to financial and economic shocks. Ellis said [...]

POSTED ON March 22, 2016
Is your credit card rewarding you enough?

Your credit card rewards may not be as rewarding as they used to be. Some rewards programs are simply not as generous as they used [...]

POSTED ON March 22, 2016
Do lenders take negative gearing into account?

The Australian Prudential Regulation Authority general manager Heidi Richards said some banks include anticipated future tax benefits from negative gearing on a rental property in [...]

POSTED ON March 21, 2016
What is an ‘income haircut?’

The Australian Prudential Regulation Authority general manager Heidi Richards said different banks apply different levels of discounting or ‘haircut’ to non-PAYG income, including rental income [...]

POSTED ON March 21, 2016
Mortgage stress expected to rise in 2016

Delinquencies and defaults on Australian mortgages "will increase slightly from their current low levels, owing to below-trend economic growth," said Moody's Investors Service yesterday. Worsening [...]

POSTED ON March 18, 2016
What is the average ATM fee in Australia?

Australian automatic teller machines provide free withdrawals for customers of the bank or credit union that own the ATM. For everyone else there is a [...]

POSTED ON March 18, 2016
Property is still the best investment

Aussie Home Loans founder John Symond released new research that finds real estate is still the best bet investment. Home owners with a mortgage in [...]

POSTED ON March 17, 2016
Generation X have dealt with mortgage stress

Generation X were born between 1965 and 1980 and have faced harder financial times than the baby boomers before them. Generation X may have bought [...]

POSTED ON March 17, 2016
Do you have a mortgage buffer?

Almost a quarter of Australians have a financial buffer of more than a years’ wages in their mortgage according to a big new consumer survey. [...]

POSTED ON March 17, 2016
What are the advantages of a term deposit?

A term deposit is a deposit locked in for a set amount of time. Unlike a savings account, the money can’t easily be withdrawn early, [...]

POSTED ON March 16, 2016
Loan application rejected?

Sometimes a loan or credit application is rejected on the basis of a bad credit report. Both the Credit & Investments Ombudsman and the Office [...]

POSTED ON March 16, 2016
What are the chances of an RBA rate cut?

QIC expects the RBA to cut interest rates in 2016. Market traders are pricing in a more than 80 per cent probability that the RBA [...]

POSTED ON March 16, 2016
What are the hidden costs of buying a home?

Hidden extra costs can really set you back twenty thousand dollars when buying a house, on top of stamp duty and legal fees. Suburb property [...]

POSTED ON March 15, 2016
Are you really an owner-occupier? Or an Investor?

The Australian Prudential Regulatory Authority has warned Australia’s banks and other lenders that too many home loans may be classified wrongly as owner occupier when [...]

POSTED ON March 15, 2016
Aussies are on top of their credit card debt

The latest Reserve Bank data on credit and debit card usage indicates that Australians are spending less on their cards and getting their debt under [...]

POSTED ON March 15, 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
Banks might research exactly who you are …

When you apply for a bank account or other financial product, the bank or credit union asks you to provide your own identification. Soon banks [...]

POSTED ON March 10, 2016
How much income do I need to repay a home loan?

The Real Estate Institute of Australia (REIA) and Adelaide Bank report that the proportion of median family income required to meet average home loan repayments [...]

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
Are you drowning in credit card debt?

The number of Australians drowning in credit card debt is a real issue. Credit cards represent easy money, so credit card users have to be [...]

POSTED ON March 9, 2016
Should I fix my mortgage rate?

Fixed-rate mortgages currently account for just over one in every five home loans sold in Australia. While interest rates are low, borrowers might be expected [...]

POSTED ON March 9, 2016
What is good home loan rate?

Thousands of Australian home owners are refinancing their mortgages to grab a lower rate. There is no better way to save serious money than by [...]

POSTED ON March 8, 2016
Do you have an emergency cash fund?

Everybody needs an Emergency Fund - a stash of cash of at least $1,000 to meet unexpected emergency expenses that can’t be paid for with [...]

POSTED ON March 7, 2016