Top savings rates in December 2019

The RBA has set interest rates in Australia at all-time lows and may cut rates yet again in the near future. CPI inflation in December [...]

POSTED ON December 2, 2019
Will a balance transfer affect my credit rating?

With over-indebtedness growing among Australian households, many people wonder how they’ll ever be free of their monthly debt repayments, or at least reduce them to [...]

POSTED ON May 31, 2019
Do you like debit or credit with your card?

Visa and Mastercard transactions have traditionally only been available to people with a credit card account. Now almost anyone with a transaction account can get [...]

POSTED ON July 15, 2015
The best and the worst of term deposits

With interest rates at historic low levels, people in the market for a term deposit need to seek out the good deals to ensure they [...]

POSTED ON July 10, 2015
Bank staff beware! You are being targeted

Websense, a service which monitors web traffic, said criminal gangs are targeting bank employees with emails based on extensive research. Websense’s Rajiv Motwani said the [...]

POSTED ON June 24, 2015
How get on top of personal debt

Get on top of your personal debts today. Each day that you let the debts accumulate the problem gets bigger. List all your debts and [...]

POSTED ON June 16, 2015
Low risk lending does not mean low house prices

The Australian Prudential and Regulatory Authority chair, Wayne Byres, told a Senate committee that “We will be watching [lenders] carefully over the remainder of the [...]

POSTED ON June 5, 2015
Paying too much interest on your credit card?

Australian Bankers Association’s chief Steve Munchenberg said credit card interest rates are high because it is unsecured debt. If credit card customers feel they are [...]

POSTED ON May 27, 2015
Do you know how a car loan actually works?

Car loans are a type of personal loans, approved for the specific purpose of buying a vehicle. Most car loans are secured against that vehicle [...]

POSTED ON May 18, 2015
Yes you can still find good term deposit rates

Term deposits are traditionally an important part of many saver’s strategies and often comprise a big part of retiree’s income streams. Term deposit rates have [...]

POSTED ON May 8, 2015
ASIC questions disclosure rules

The Australian Securities and Investments Commission said yesterday that 44 per cent of consumers can't read well enough to understand investment disclosures and only 20 [...]

POSTED ON February 19, 2008
Sydney recovers but Perth struggles

The property market in Sydney seems to be recovering while most other capital cities are expected to remain healthy through 2008. Average days on market [...]

POSTED ON February 18, 2008
It’s been a busy time at the ASX

The Australian Securities Exchange is referring an increased number of insider trading allegations to ASIC with six breaches referred in January alone, compared with the [...]

POSTED ON February 15, 2008
Tricom struggles with fund demand

The future of troubled broking firm Tricom is in doubt as it has been forced to seek a buyer. With some of the company’s largest [...]

POSTED ON February 15, 2008
Industry wants 15% super in 7 years

The superannuation industry says that most people are not saving enough to fund their retirement and have called on the government to force 15 per [...]

POSTED ON February 14, 2008
Lenders check the books at Allco

Lenders to Allco Finance Group have called in corporate restructuring specialists as they attempt to ensure the viability of the investment finance specialist. With Allco [...]

POSTED ON February 14, 2008
Bank share hit bargain levels

Bank shares fell yesterday following the Commonwealth Bank's profit announcement and are now at their cheapest since early 2000 and the "tech-wreck". CBA shares were [...]

POSTED ON February 14, 2008
Business rates up more than home loans

Rates on business loans have increased faster than for home loans according to a review conducted by the Reserve Bank. From July 2007 to January [...]

POSTED ON February 13, 2008
Fortress fund tumbling down

The Macquarie Fortress Investments fund is close to collapse with the value of its portfolio falling by a third in the last week. The drop [...]

POSTED ON February 12, 2008
Next credit crunch ripple on its way

The global credit crunch seems set to get worse with low-rated corporate loans in the US plummeting in value over the last few days. Banks [...]

POSTED ON February 12, 2008
Borrowers try to dodge rising rates

Banks increased their share of the housing finance market from 79 per cent to 85 per cent during the second half of 2007, but the [...]

POSTED ON February 12, 2008
Refinancing boosts loan volumes

Rising interest rates have prompted a surge in the level of loans being refinanced as consumers look for a better deal. A record $4.2 billion [...]

POSTED ON February 12, 2008
Inflation and wage spiral worries RBA

The Reserve Bank has warned that it is ready to increase rates again as early as next month as it battles to control inflation and [...]

POSTED ON February 12, 2008
Bad time to sell businesses

There are 25 per cent more businesses for sale now than there were last quarter, and 46 per cent more than there were a year [...]

POSTED ON February 11, 2008
Banks required to make switching easier

Federal Treasurer Wayne Swan has announced four initiatives aimed at making it easier to switch bank accounts and to reduce loan switching fees. A new [...]

POSTED ON February 11, 2008
Paying more for less hours

The average income for males has gone from $741 to $1158 per week in the last 10 years and from $620 to $968 for women [...]

POSTED ON February 8, 2008
Care needed with mortgage insurance

One of the nation's largest debt collection agencies, Prushka Fast Debt Recovery, has warned that any problems with mortgage insurers could have a huge impact [...]

POSTED ON February 7, 2008
Repossessions harder to avoid

Home repossession rates are expected to increase later this year as recent rate rises make it harder for households to meet their loan repayments. The [...]

POSTED ON February 7, 2008
Understand risks in the margins

Investors considering a margin loan should read the find print and ensure they understand their obligations. If the value of the share portfolio falls the [...]

POSTED ON February 6, 2008
Westpac ready to lend

New chief executive Gail Kelly, only in the job for three days, conducted an investor briefing yesterday at which she said that the bank would [...]

POSTED ON February 6, 2008
Analysts forecast more rate rises

While the effects of yesterday's increase in interest rates by the Reserve Bank are yet to be seen, many economists are predicting that more increases [...]

POSTED ON February 6, 2008
Tricom rethinks margin strategy

Troubled broker Tricom Securities is under instruction from its banks to reduce its margin loan portfolio to $500 million and has said that it could [...]

POSTED ON February 5, 2008
Margin calls hit record highs

Record levels of margin calls have been made in the last two weeks and investors who have borrowed to purchase shares in companies exposed to [...]

POSTED ON February 5, 2008
CBA fears lead bank shares down

Shares in the major banks fell yesterday after the market was spooked by the Commonwealth Bank. The bank called an investor briefing and said that [...]

POSTED ON February 5, 2008
Adelaide is the new boom city

As other cities are already too expensive buyers have turned their attention to Adelaide. While the average house price in Brisbane was up by 21.6 [...]

POSTED ON February 5, 2008
Strong start to year for auctions

While it is too early to be sure about where the property market is heading this year, the first major weekend of auctions has been [...]

POSTED ON February 4, 2008
Many households will need to tighten belts

With the Reserve Bank of Australia expected to increase interest rates again tomorrow, borrowers who bought property when prices peaked in 2003 will be paying [...]

POSTED ON February 4, 2008
Margin lenders differ on regulation call

The call from the ASX for closer regulation of the margin lending industry has received a lukewarm response from the industry. While the proposal has [...]

POSTED ON February 4, 2008
ANZ and NAB get mobile

The ANZ Bank will be first to market with its mobile phone banking service due to start on February 11. NAB will follow with its [...]

POSTED ON February 1, 2008
Business lending up, but brakes on housing

Business lending is increasing at its fastest rate in almost 20 years with a 1.6 per cent increase in December contributing to a 24.3 per [...]

POSTED ON February 1, 2008
ASX under scrutiny for Tricom troubles

The ASX has been criticised for its role in creating uncertainty in the share market following the failure of Tricom to settle its trades on [...]

POSTED ON February 1, 2008
Broker settles but will be closely watched

The broker and margin lender Tricom will be under daily supervision by the ASX after failing to settle trades on Tuesday. While the firm did [...]

POSTED ON January 31, 2008
Housing figures point to US recession

Fears of a recession in the US are building with the latest new home sales figures showing a 27 per cent drop over 2007. The [...]

POSTED ON January 30, 2008
Retailers push into banking territory

Some of Australia's largest retailers are preparing a range of banking and insurance products to take on the big banks. Woolworths is planning to launch [...]

POSTED ON January 30, 2008
Wild weather to pressure insurance premiums

Australians will be facing higher insurance premiums with climate change models predicting an increase in the severity and frequency of extreme weather events such as [...]

POSTED ON January 29, 2008
Melbourne houses catching up to Sydney prices

While Sydney house prices only gained 5 per cent over 2007, the stellar performers were Melbourne, Brisbane and Adelaide which each recorded increases of more [...]

POSTED ON January 25, 2008
US moves prop up markets

All the share market losses on Tuesday have been recovered as investors reacted to moves in the US to shore up its economy. Following a [...]

POSTED ON January 25, 2008
Save online for best interest rates at-call

With interest rates low, savers looking for decent returns in an at-call deposit account will do well to look to the internet. An increasing number [...]

POSTED ON January 24, 2008
Repossessions skyrocket in NSW

The number of people in NSW who are at risk of losing their homes has jumped by almost 70 per cent in the last two [...]

POSTED ON January 23, 2008
Misled US home buyer set to sue agent

A case due to be heard in the North County Superior Court(Carlsbad, California) in coming weeks is tipped to be the first of many as [...]

POSTED ON January 23, 2008
Banks still offer good returns

While concerns about the exposure of Australian banks to problems in the US have been circulating over the past few days, analysts say that the [...]

POSTED ON January 22, 2008
Unions target bank lending practices

With the ratio of debt to household income at 159.6 per cent for the September quarter and 11.7 per cent of household income committed to [...]

POSTED ON January 22, 2008
Staff getting harder to find

The job market continues to get tougher for employers with the 182,000 vacant positions reported in November 13.5 per cent higher than for the previous [...]

POSTED ON January 22, 2008
Rates up at our biggest bank

Australia's largest bank has increased its variable mortgage rate by 0.10 percentage points. The Commonwealth Bank has become the latest lender to decide that it [...]

POSTED ON January 22, 2008
Spending spree may have hidden cost

Strong retail spending figures in November have increased the likelihood of the Reserve Bank lifting interest rates when it meets again in the first week [...]

POSTED ON January 22, 2008
Westpoint investors still looking for cash

Two years after the collapse of the Westpoint group investors are still waiting to see any of their cash. The Australian Securities and Investments Commission [...]

POSTED ON January 22, 2008
Super funds promote long term view

According to SuperRatings the average superannuation fund has lost 6 per cent so far this month, following a 0.46 per cent drop in December. However [...]

POSTED ON January 22, 2008
Card issuers try to find their niche

As competition in the credit card market intensifies, some banks are teaming up with smaller lenders and retailers to capitalise on well-known brands. HSBC issues [...]

POSTED ON January 22, 2008
APRA vigilant on liquidity issues

The Australian Prudential Regulatory Authority will expand the review of bank's liquidity guidelines that it started last May to ensure that they are well positioned [...]

POSTED ON January 22, 2008
Indian banks hurt their customers, literally

Consumer lending is driving increased consumption but some banks in India have come under fire for their unusual debt recovery techniques. One man was sitting [...]

POSTED ON January 22, 2008
Growing threat for social site users

Users of social networking sites such as Facebook and MySpace need to take extra care as 'malware' is becoming more common. Malware is a program [...]

POSTED ON January 22, 2008
Suncorp confident of share price

Suncorp's chief executive, John Mulcahy, says that they will be able to close the share price gap with rivals by the end of 2008. With [...]

POSTED ON January 21, 2008
Banks ready to raise home loan rates

The ANZ Bank has increased its fixed home loan rates by 0.20 percentage points effective from today and executives are expected to meet today to [...]

POSTED ON January 21, 2008
Double whammy for first home buyers

Rising interest rates and steep increases in rents over the next year are expected to conspire to make it even harder for first-time buyers to [...]

POSTED ON January 21, 2008
Bargain hunters scour share market

The Australian share market has fallen 16 per cent over the last two and a half months but some say there are now good deals [...]

POSTED ON January 21, 2008
Australia has least affordable homes

A study has found that on average an Australian family has to spend 6.1 times their entire household income to buy a home, while Americans [...]

POSTED ON January 21, 2008
Banks may have to quit off-balance-sheet funding

The practice of banks using off-balance-sheet financing vehicles to fund some of their mortgage books has come under scrutiny by the Reserve Bank of Australia. [...]

POSTED ON January 18, 2008
Deposit rates lag mortgage rate increases

Analysis by the Reserve Bank of Australia has found that banks delay passing higher interest rates to deposit customers, even though they waste no time [...]

POSTED ON January 18, 2008
Borrowers seek safety of fixed rates

Borrowers are rushing to fix their home loans to try to escape the impact of rate rises but it may be too late. The latest [...]

POSTED ON January 17, 2008
US consumers brace for recession

More signs that the US economy is tipping into recession have emerged with the New York Times reporting that consumer spending has slowed dramatically. While [...]

POSTED ON January 17, 2008
NAB rewrites indigenous loan rules

The National Australia Bank has had to change the way it lends to people in remote indigenous communities after the Australian Securities and Investments Commission [...]

POSTED ON January 17, 2008
ANZ and Commonwealth increase ATM fees

Despite agreeing to scrap ATM interchange fees within a year, the ANZ and Commonwealth banks have both announced increases to the fees. The fee that [...]

POSTED ON January 17, 2008
NAB says UK market OK

The share price for National Australia Bank has lost almost $10 or 21 per cent from its $45 peak in November. Causing the slide is [...]

POSTED ON January 17, 2008
Competition for deposit dollars hots up

So far it has been lenders who rely on wholesale markets that have had to increase their rates, but there is increasing pressure on others [...]

POSTED ON January 17, 2008
Investigation into home loan switching fees

The federal Treasurer Wayne Swan has said that he will investigate ways to protect borrowers from harsh fees when refinancing their home loans. The move [...]

POSTED ON January 17, 2008
NAB hikes variable home loan rates

NAB is the first bank to lift its rates outside of any movement in the cash rate by the Reserve Bank of Australia. Continued pressure [...]

POSTED ON January 17, 2008
Oil hits record $100 a barrel

A combination of African violence, tight energy stockpiles and a weaker US dollar have contributed to a surge in the price of oil as speculative [...]

POSTED ON January 17, 2008
Amex loyalty cards to cost more

American Express has split its rewards programs into three options. Customers can choose to have no reward scheme linked to their cards, or pay and [...]

POSTED ON August 22, 2002
Terrain enters mortgage broking

Financial services provider Terrain Australia is set to provide more competition in the mortgage loans broking market, and has announced plans to open 10 Melbourne [...]

POSTED ON August 22, 2002
Westpac leads online banking

Westpac has been rated as Australia's top online retail bank in a RedSheriff survey on customer service. Sixty-nine per cent of Westpac's online customers were [...]

POSTED ON August 22, 2002
New code for property trusts

The Property Council of Australia will review the standard of corporate governance in property trusts and funds, with the aim of creating an industry code [...]

POSTED ON August 22, 2002