How to Get The Best Possible Deal on a New Car

Making the decision to purchase a new car isn't an easy one. For many, it represents the second-largest financial commitment they will make besides purchasing [...]

POSTED ON February 3, 2020
Help available for bank account switching

Many are put off by the hassle of switching everyday banking accounts, but Australian Bankers' Association chief executive Steven Munchenberg says making the change can [...]

POSTED ON February 24, 2012
Suncorp focuses on mortgages and deposits

One bank with few worries over conditions in the wholesale financial markets is Suncorp Bank. It has a deposit-to-loan ratio of 69.4 per cent - [...]

POSTED ON February 23, 2012
Now is the time to compare and switch loans

With the big four banks increasing their lending rate, now's the time to start making moves to get a better deal from your lender. “Our [...]

POSTED ON February 22, 2012
ANZ warns of more rate rises to come

ANZ chief Mike Smith has warned of further “funding pressures” that may lead to more out-of-cycle increases to mortgage rates. “The Reserve Bank cash rate [...]

POSTED ON February 20, 2012
Borrowers must ask for mortgage fact sheets

From January 1, banks have been required to give potential borrowers a page outlining mortgage rates, fees, monthly and annual repayments and the total interest [...]

POSTED ON February 20, 2012
Fixed rates are a good bet right now

Even though the Reserve Bank’s official cash rate was not reduced last week, market expectations are that the official cash rate will be reduced by [...]

POSTED ON February 16, 2012
AMP reports net profits down 11 per cent

AMP has reported an 11 per cent fall in its full-year net profit to $688 million. The company today said while its net profit had [...]

POSTED ON February 16, 2012
CommBank says mortgages have been losing money

Commonwealth Bank chief executive Ian Narev confirmed that prior to the bank’s decision to raise home loan interest rates it was writing mortgages at a [...]

POSTED ON February 16, 2012
Greater BS hikes rates by 0.10 per cent

Greater Building Society announced yesterday that its standard variable home loan rate will go up 10 basis points to 6.9 per cent. Greater joins Commonwealth [...]

POSTED ON February 15, 2012
CommBank increases term deposit rates

The Commonwealth Bank announced it will increase interest rates for its six month Term Deposit account by 0.20 per cent. The bank also announced standard [...]

POSTED ON February 14, 2012
CBA, NAB & Bendigo raise mortgage interest rates

Commonwealth Bank, National Australia Bank and Bendigo & Adelaide Bank joined ANZ and Westpac yesterday in making out-of-cycle home loan interest rate increases. Commonwealth Bank [...]

POSTED ON February 14, 2012
Car loans drive up personal loan applications

Total credit applications fell in the last three months of 2011, but personal loan applications grew modestly, up 2.4 per cent for the December quarter. [...]

POSTED ON February 10, 2012
Investors need to check on their deposits

According to the latest figures from the Australian Taxation Office, about 30 per cent of Australian SMSF balances were invested in cash or term deposits. [...]

POSTED ON February 9, 2012
RBA surprise – no February rate cut

The Reserve Bank stunned investors and many of the nation's leading economists by keeping the cash rate steady at 4.25 per cent yesterday. Analysts said [...]

POSTED ON February 8, 2012
Greens want RBA linked home loans

Greens MP Adam Bandt plans to amend his banking bill to require banks to offer mortgages that pass on any Reserve Bank rate cut in [...]

POSTED ON February 7, 2012
Banks set to keep half of RBA rate cuts

The big banks will only pass on about half of any cut to the official interest rate next week, according to leading economists. Aussie Home [...]

POSTED ON February 6, 2012
ANZ platinum waving annual card fees

The ANZ Platinum Visa credit card is offering an annual fee waiver. Your first annual account fee of $87 is waived and your next annual [...]

POSTED ON February 3, 2012
Banks prepare to keep RBA rate cut

Mortgage broker AFG's NSW/ACT state manager Chris Slater said the banks have gone to great lengths to forewarn borrowers and brokers that any rate cuts [...]

POSTED ON February 2, 2012
Swan warns banks to pass on rate cuts

The Treasurer, Wayne Swan, gave notice yesterday that he would be pushing the banks to pass on any rate cut granted next week. “I won't [...]

POSTED ON February 1, 2012
RBA should referee bank rates says Hockey

Shadow treasurer, Joe Hockey, says the Reserve Bank of Australia should ‘referee’ bank interest rates because it is best placed to judge whether passing on [...]

POSTED ON February 1, 2012
“Rate hounds” chase savings deals online

NAB’s UBank and other online banking operations such as ING Direct, are examples of the future of banking, where customers can access their accounts from [...]

POSTED ON January 31, 2012
Online savers open accounts in ten minutes

Savers are being lured by special offers and incentives by online savings accounts but there can be conditions attached. UBank's USaver offers 6.01 per cent [...]

POSTED ON January 31, 2012
Borrowers told to wait before fixing rates

Mortgage customers who fix their rates now could be signing up too soon with variable home loan rates likely to continue falling, banking experts say. [...]

POSTED ON January 30, 2012
Virgin Saver cuts rates and slows deposits

Virgin Money chief executive, Matt Baxby said he was pleased with the progress of the deposit account, Virgin Saver, although he did not say what [...]

POSTED ON January 30, 2012
UBank has 200,000 depositors

UBank has more than A$10 billion deposits and more than 200,000 customers, Alex Twigg, general manager of the NAB brand, told The Australian. This represents [...]

POSTED ON January 23, 2012
Bendigo is the favourite business bank

The latest Roy Morgan Research business banking customer survey, released yesterday, shows a 3.7 percentage point increase in satisfaction reported by micro business over the [...]

POSTED ON January 20, 2012
Lenders slow to issue home loan fact sheets

Consumer group Choice has conducted a small, informal shadow shopping exercise to see how the banks are dealing with the new requirement to issue home [...]

POSTED ON January 19, 2012
CUA giving cash prizes to cardholders

Credit Union Australia is currently promoting its Visa Debit Card with cash prizes. Use your CUA Visa Debit card between 1 December 2011 and 29 [...]

POSTED ON January 18, 2012
Rate cut savings are reducing loan principal

Most Australian home owners are putting the extra savings from recent rate cuts towards the principal loan. A new poll by PRDnationwide found 68 per [...]

POSTED ON January 18, 2012
Average home loan size falls below $300K

The housing finance market has recorded nine months of steady growth, making up the ground lost when it went into a sharp decline in late [...]

POSTED ON January 17, 2012
February rate cut still on the cards

New inflation and employment figures drive the case for another cut in the official cash rate when the Reserve Bank board meets next month, analysts [...]

POSTED ON January 17, 2012
Discount home loan packages get bigger

The best discount home loan packages, which are generally available to people with mortgages of more than $250,000, have increased their average rate discount in [...]

POSTED ON January 16, 2012
Lenders differ on “How much can I borrow”

The chief executive of Resi Mortgage Corporation, Lisa Montgomery, says every financial institution assesses people's serviceability differently, so how much you can borrow may change [...]

POSTED ON January 11, 2012
Rate cuts lead to big jump in new homes

The Australian Bureau of Statistics housing data for November released yesterday showed building approvals climbed 8.4 per cent following dives of more than 10 per [...]

POSTED ON January 11, 2012
Big rate cuts of 1.0 per cent predicted

Flat retail sales in November could spur the Reserve Bank to cut rates as soon as February say analysts. HSBC's chief economist Paul Bloxham said [...]

POSTED ON January 10, 2012
Small lenders take a bite from big four

Smaller mortgage lenders are snatching a greater share of the home loan market, according to big mortgage broker AFG. Non-bank lenders secured nearly a quarter [...]

POSTED ON January 10, 2012
NAB customers to smell the difference

NAB opened the first of its new-style branches at 800 Bourke Street, Docklands, in Melbourne on Monday, with three more stores to open in Melbourne [...]

POSTED ON January 10, 2012
MyRate.com.au welcomes mortgage fact sheets

MyRate.com.au’s managing director Kevin Sherman opposed the mortgage exit fee ban but said the new mortgage fact sheets are a definite step forward. “The fact [...]

POSTED ON January 9, 2012
More borrowers choosing fixed rates

According to new data from Mortgage Choice, fixed rate loans accounted for 24 per cent of all new home loan approvals during December 2011, up [...]

POSTED ON January 6, 2012
One Big Switch is one big fizzer

In the six months since One Big Switch launched its campaign to help borrowers lower their mortgages, only 1,600 homeowners have secured a better deal, [...]

POSTED ON January 5, 2012
Outlook brightens for house prices in 2012

The RBA's decision to cut rates on Melbourne Cup day resulted in an immediate impact on house prices with properties in Australia's capital cities recording [...]

POSTED ON January 5, 2012
Tax Office targets wealthy depositors

As it continues the offshore hunt for hidden tax revenue, the ATO is also searching for elusive tax revenue close to home. Last year, the [...]

POSTED ON January 5, 2012
Rich Aussies scared back to bank deposits

In 2010-11, the volume of funds flowing back to Australia from 13 major tax secrecy jurisdictions increased for the first time since 2007-08, the year [...]

POSTED ON January 5, 2012
Advice for mortgage stressed families

Many families who struggle with mortgage repayments have consumer credit and other loans and debts as well. Financial advisor Scott Pape, the barefoot investor, advises [...]

POSTED ON January 5, 2012
Family relationships rule the finances

The most popular New Year's resolution, according to the FranklinCovey Group, is "improve my financial situation". In most relationships, there's the person who sweats the [...]

POSTED ON January 5, 2012
High interest card debt is non-deductible

Reducing non-deductible debt is the first step to a brighter financial future for the majority of people, says Gemma Dale, head of technical services at [...]

POSTED ON January 4, 2012
Thousands take advantage of exit fee ban

More than a quarter of a million mortgages were sold after last year's July 1 deadline for abolishing exit fees. Treasurer Wayne Swan said the [...]

POSTED ON January 4, 2012
Bank of Melbourne to add more branches

The Bank of Melbourne is set to open a further 22 branches this year. Chief executive Scott Tanner said the move, while going against the [...]

POSTED ON January 4, 2012
Rate cuts spur home price rises

The Reserve Bank of Australia's decision to cut the official cash rate is paying dividends, with capital city values rising for the first time in [...]

POSTED ON January 3, 2012
Low income super savers lose $35,000

New Federal Government co-contribution superannuation rules mean the nation's poorest workers will lose at least $32,000 by the time they retire. Low-income workers were promised [...]

POSTED ON January 3, 2012
Four types of spenders fight off card debt

The ''gotta have it now'' consumer syndrome is alive and well and anyone who falls into this category is constantly fighting off consumer debt. Financial [...]

POSTED ON January 3, 2012
Country students get $10K for Uni

Country kids can now test their eligibility for the lucrative Relocation Scholarship at Centrelink's website. Previously available only to students from very remote and outer [...]

POSTED ON January 3, 2012
Families get big payrises

From January 1, 650,000 families will reap a huge windfall gain as a result of big increases in family tax and other payments for teenage [...]

POSTED ON January 3, 2012
Debt worries hit young people

Eighty-two per cent of Australians are concerned about their ability to meet future debt repayments, according Veda Advantage. There was a 75 per cent increase [...]

POSTED ON December 30, 2011
Tasmanian house prices flat in 2012

Hobart house prices are set to grow by between 0 per cent and 3 per cent in 2012, according to Australian Property Monitors (APM). APM [...]

POSTED ON December 30, 2011
ANZ staff cards hacked by Anonymous

ANZ Bank has moved to cancel credit cards belonging to seven employees who subscribed to hacking target Stratfor. "ANZ has a subscription to the Stratfor [...]

POSTED ON December 30, 2011
Saving for income, growth and low tax

Savers need to take the inflation rate into account. If inflation rises faster than the interest rate you earn on your money, you will not [...]

POSTED ON December 30, 2011
Rates and house prices to fall in 2012

Continued economic uncertainty could cause house prices to fall by as much as 5 per cent in the first six months of 2012. According to [...]

POSTED ON December 29, 2011
Business customers like big banks again

Business customer satisfaction with the big banks climbed to a record last month, continuing a trend seen throughout this year according to DBM. By contrast, [...]

POSTED ON December 29, 2011
How to check your ATM for skimmers

Queensland Police Fraud Squad chief Brian Hay advised card holders to keep a look out for skimming devices when using ATMs. "Essentially look at the [...]

POSTED ON December 28, 2011
Banks recommend PayPal for online card payments

Banks are closely monitoring credit card accounts during the summer shopping season. Australian Bankers' Association chief executive Steven Munchenberg warns consumers to be careful when [...]

POSTED ON December 28, 2011
US Defense Dept credit cards hacked

Hacking group Anonymous claims to have stolen emails and credit-card information from the clients of a US-based security company Stratfor including the US Defence Department, [...]

POSTED ON December 28, 2011
Thousands of Melbourne homes cracking & heaving

The Housing Industry Association has estimated that more than 1000 houses in Melbourne's western suburbs could be damaged due to a problem called "slab heave" [...]

POSTED ON December 28, 2011
60,000 homebuyers ‘going underwater’

Some buyers are finding that their homes are worth less than the size of their mortgage. While the percentage of home owners with so-called negative [...]

POSTED ON December 28, 2011
ASIC to crackdown on asset values

Financial service providers could come under scrutiny from the corporate regulator in 2012, experts say. ASIC will focus on ensuring companies report the true value [...]

POSTED ON December 28, 2011
Cardholders continue to choose debit over credit

Consumers are ditching credit cards and opting for debit when making purchases. Since the global financial crisis, more and more shoppers are choosing to use [...]

POSTED ON December 28, 2011
Highest mortgage arrears in Sydney, WA & Qld

About 1.42 per cent of home loan borrowers across Australia failed to make their mortgage payment within 30 days in September, down from March highs [...]

POSTED ON December 23, 2011
Rate cuts help borrowers meet repayments

The proportion of home owners failing to pay their home loan instalments on time fell nationally in September, down nearly a quarter since March, the [...]

POSTED ON December 23, 2011
WA investors choose savings over property

The West Australian residential market remains in the midst of a slowdown. CBRE global research and consulting manager Sam Reilly said buyer sentiment was the [...]

POSTED ON December 23, 2011
CBA Kaching to get better in 2012

Commonwealth Bank's Commbank Kaching app is now available to download free from the AppStore. Commbank Kaching enables Commonwealth Bank customers to make peer-to-peer payments using [...]

POSTED ON December 23, 2011
Fixed rates still cheaper than variable

Citibank's Aaron Milburn said now might be the most opportune time for borrowers to lock in a fixed mortgage rate. Milburn said even if the [...]

POSTED ON December 23, 2011
Mortgagees still worried, despite rate cuts

According to the latest Westpac Melbourne Institute Index, consumer sentiment fell by 8.3 per cent in December from 103.4 in November to 94.7 in December. [...]

POSTED ON December 23, 2011
Westpac predicts big New Year rate cuts

Economic growth is expected to slow next year forcing the Reserve Bank to cut interest rates in the coming months. Westpac chief economist Bill Evans [...]

POSTED ON December 22, 2011