Lenders lure customers with gimmicks
Lenders are turning to travel freebies, fuel discounts and other gimmicks to lure potential borrowers. InfoChoice said Community First Credit Union is offering a free night's accommodation for honeymoon loans. IMB said it promised to save customers money on a loan, and would rebate them $500 if they did not save. Greater Building Society's standard variable home loan offers fuel discounts and points towards travel and accommodation. It recently increased the fuel discount offer to 20 cents a litre.