How to meet your financial goals for 2018

Are you hoping to settle your debts, save for a trip overseas or maybe start a small business in 2018? Whatever your financial goals this [...]

POSTED ON May 8, 2017
How to buy property as a millennial

Growing up a millennial certainly has its advantages, like having a strong entrepreneurial mindset and dreams of self-employment. In fact, the disposable income of Australian [...]

POSTED ON March 27, 2017
What would I use a term deposit for?

Whether you’re saving for a holiday, a house or a more comfortable future, a term deposit can offer an attractive mix of higher returns and [...]

POSTED ON March 27, 2017
Saving for a holiday and a house

Climbing the corporate ladder is hard work, and you’ll naturally want to take some time out occasionally. Travelling is a great way to rest, recharge [...]

POSTED ON March 27, 2017
Savings accounts vs. term deposits

If you want to save money and earn interest, savings accounts and term deposits are both worth looking into. We’ve examined the differences and similarities between [...]

POSTED ON October 28, 2016
Key term deposit terms you should know

Term deposits offer a guaranteed return, making them particularly popular among more cautious investors or as a low-risk component of a diversified investment portfolio. However, [...]

POSTED ON October 28, 2016
Why are term deposit rates less than savings rates

Australian Prudential Regulation Authority chairman Wayne Byres questioned why banks and credit unions are offering higher rates on at-call savings accounts over term deposits. Byres [...]

POSTED ON September 22, 2015
Do I want a term deposit or a savings account?

Term deposits are still enormously popular with investors and savers. High interest online savings accounts are currently offering rates that are very competitive with term [...]

POSTED ON August 7, 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
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 come [...]

POSTED ON May 8, 2015
Banks to add more to RBA rate rises

Borrowers are likely to be slugged by more rate rises from RBA and more margin expanding rate rises from the big banks as well. The [...]

POSTED ON November 2, 2009
Switch your lender & save $3,800

Over the last 14 months of the GFC, many people moved their money and their business to a big four bank. Many people could simply [...]

POSTED ON November 2, 2009
Four steps to switching banks

Switching bank accounts to a new bank is easier than it has been in the past, but can still be a complex process. ASIC and [...]

POSTED ON November 2, 2009
Fee changes to all transaction accounts

Almost all banks, credit unions and building societies have announced changes to the fees they charge their credit card, loan and account customers. Now may [...]

POSTED ON November 2, 2009
Banks trying to connect with customers

ANZ, Westpac and NAB have launched new marketing programs recently all trying to reconnect with their customers and communities. ANZ have re-fashioned their signage with [...]

POSTED ON November 2, 2009
Aussies are stashing their cash

The first national study by Westpac into the social effects of the global financial crisis shows more than 32% of Australians are cocooning in the [...]

POSTED ON November 2, 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
Be prepared for higher rates says RBA

Homebuyers have to be prepared for higher interest rates says the governor of the Reserve bank, Glenn Stevens. Stevens told a parliamentary hearing that rate [...]

POSTED ON August 17, 2009
Rates to plunge to two per cent

The Reserve Bank will cut official interest rates to 2.5 per cent or below next year say some economists because unemployment is expected to almost [...]

POSTED ON December 31, 2008
Big rates on offer from small banks

Some smaller institutions are still offering deposit interest rates of six and seven per cent, at call, on even small amounts of cash despite big [...]

POSTED ON December 15, 2008
Aussies reject shares for bank deposits

More people than ever before believe that banks, credit unions and building societies are best place to invest their savings. According to the Westpac-Melbourne Institute [...]

POSTED ON December 11, 2008
Investors rush to bank deposits

Investors continued to choose bank deposits in October over shares and other investment options. More than $11 billion was deposited in banks, credit unions and [...]

POSTED ON December 1, 2008
Only Rabo not offering guarantee

Rabobank and its wealth management arm RaboPlus will go it alone in Australia and not participate in the government deposit guarantee scheme for depositors with [...]

POSTED ON November 28, 2008
Big depositors get to opt out of guarantee

National Australia Bank said it would give customers with funds over $1 million the choice of opting out of the government guarantee. For customers who [...]

POSTED ON November 27, 2008
Deposit guarantee favours big banks

The government has published its sliding scale of fees it will charge banks and credit unions for guaranteeing retail deposits over one million dollars and [...]

POSTED ON November 24, 2008
Rates headed down to 3 per cent next year

Markets are pricing in rate cuts to take the official rate to 3.75 per cent over the next six months. Yesterday the Reserve Bank made [...]

POSTED ON November 5, 2008
Deposit guarantee clarified but questions remain

The deposit guarantee threshold under which there is no fee is one million dollars per depositor, per bank the government said last night. The clarification [...]

POSTED ON October 29, 2008
Bendigo boasts strong deposit growth

Bendigo and Adelaide Bank increased retail deposits by $2 billion last financial year to $23.6 billion. Managing Director Rob Hunt said the bank's retail deposits [...]

POSTED ON October 28, 2008
Deposit guarantee fees outlined

Foreign banks have been included in the federal government's deposit guarantee scheme for their short term wholesale funding raised from Australian residents and a fee [...]

POSTED ON October 27, 2008
Money floods out of unprotected banks

Foreign banks in Australia are losing deposits as money managers move investors money to institutions covered by the government deposit guarantee. If the trend continues [...]

POSTED ON October 24, 2008
Deposit guarantee will hurt property market

The Federal Government's bank deposit guarantee could weaken the property market mortgage finance companies are warning. "This issue has caused concern and uncertainty where it [...]

POSTED ON October 23, 2008
Depositors struggle to beat inflation

Depositors will struggle to find interest rates that keep the value of their savings growing more than the rate of inflation. As interest rates fall, [...]

POSTED ON October 23, 2008
Banks welcome increase in deposits

Household deposits in big banks rose by 13 per cent in August and are expected to increase further according to Deutsche Bank. "We expect recent [...]

POSTED ON October 10, 2008
Banks cut deposit rates

The Commonwealth Bank, Westpac, NAB and ANZ confirmed they would be cutting rates on deposit accounts, in some cases by more than the 1 per [...]

POSTED ON October 9, 2008
NAB launches UBank brand

National Australia Bank announced the establishment of UBank, a new direct channel offering, focused on savings products. As the first brand in NAB's Star Direct [...]

POSTED ON October 2, 2008
Commonwealth leads on deposits

Commonwealth increased deposits by 1.3 per cent during August to $111 billion, with the deposit balance $20 billion or 22 per cent higher than the [...]

POSTED ON October 1, 2008
ANZ raises rates on deposits

ANZ has gone against the trend and raised interest rates on its 12 month term deposits by 0.3 per cent from 7.0 per cent to [...]

POSTED ON September 5, 2008
Banks cut rates on loans and deposits

All the major banks cut their standard variable home loan interest rates by 0.25 per cent yesterday. All four announced the changes within 10 minutes [...]

POSTED ON September 3, 2008
Boom in bank deposits

Household deposits to financial institutions grew 3 per cent in the month of July according to the banking regulator APRA. Business deposits grew 2.8 per [...]

POSTED ON September 2, 2008
Banks lend super contributions to customers

Superannuation contributions are being channelled through the wealth management arms of banks and life companies via cash account and term deposit options into their lending [...]

POSTED ON August 29, 2008
Depositors cash in

Investors are cashing in on high rates of return from simple deposits in the bank, as market turmoil drives other investments down. Banks are desperate [...]

POSTED ON July 28, 2008
DIY super goes to cash and term deposits

The self managed superannuation funds sector continued to expand during the 2008 March quarter. The number of SMSFs at the end of March was 378,656, [...]

POSTED ON July 21, 2008
Depositors get nine per cent return

Depositors can get returns from high interest online savings accounts and term deposits right now as the banks turn to retail deposits amid ongoing credit [...]

POSTED ON July 21, 2008
ING makes ID easier

ING Direct has become the first Australian bank to allow customers to open and operate a deposit account entirely online. The bank has done away [...]

POSTED ON June 3, 2008
Tax breaks would increase savings

Economists, accountants and bankers are urging the federal government to introduce a tax-free savings account, although Treasurer Wayne Swan has said that there will be [...]

POSTED ON May 12, 2008
Australia should be concerned about US economy

The US economy is heading for recession and countries like Australia should be worried according to the chairman of investment bank Morgan Stanleys' Asian arm, [...]

POSTED ON December 17, 2007
Savings Calculator

Project how much you can accumulate over time from an initial contribution and regular ongoing deposits. Note: The results from this calculator should be used [...]

POSTED ON December 11, 2007
CUA members profit with the company

Credit Union Australia (CUA) has recorded a net profit of more than $48 million over the 2006/07 financial year, with assets under management increasing to [...]

POSTED ON November 9, 2007
Jobless rate falls to 33 year low

The good news on unemployment with the national jobless rate falling to 4.2 per cent is tinged, with a bitter twist for Australian borrowers as [...]

POSTED ON October 12, 2007
Special accounts used for tax not drought

The average balance of a farm management deposit account rose to a record $68,600 in the June quarter, up $2,600 or 4 per cent from [...]

POSTED ON September 26, 2007
Great rates on offer

Negotiating for the best possible rate is of common practice in today's society, deals can extend from discounts on home loans to special rates offered [...]

POSTED ON July 11, 2007
Maths and banking too hard for high school students

The Australian Financial Literacy Assessment, in a survey of 50,000 secondary students, found that young people lack fundamental numeracy skills and basic financial knowledge. The [...]

POSTED ON November 20, 2006
Households fret over basic bills

A survey by Newspoll for the credit-advice firm Fox Symes shows almost a quarter of adults believe their financial situation has worsened recently. More than [...]

POSTED ON October 30, 2006
Big banks lose ground in deposits

Bank deposits increased 7.1 per cent, in the 12 months to November 2005, according the Australian Prudential Regulation Authority with the big four banks grabbing [...]

POSTED ON January 10, 2006
All funds lost in Mercorella Scheme

Administrators of what has come to be known as the Mercorella Scheme – in effect a Ponzi scheme – told investors at a creditors’ meeting [...]

POSTED ON October 28, 2005
CBA plays catch up with high yield account

Commonwealth Bank has begun nationwide marketing of its online, at-call savings account which will pay an interest rate of 5.4 per cent. CBA's launch follows [...]

POSTED ON June 6, 2005
Huge gaps appear between savings rates

A burst of competition in the savings deposit market is producing massive differences in the highest and lowest rates available over some terms. Infochoice data [...]

POSTED ON December 10, 2004
Commonwealth selectively lifts deposit rates

Commonwealth Bank said it would target select segments of the market for higher deposit interest rates in order to compete with the appeal of high [...]

POSTED ON November 23, 2004
Seniors finance revolution catching on

Australian Seniors Finance, a niche mortgage provider, is the latest lender to offer a reverse mortgage. Commonwealth Bank, St George, Bluestone and two Western Australian [...]

POSTED ON September 14, 2004
Deposits decline at CBA, ANZ

Both the Commonwealth Bank and the ANZ saw a decline in retail banking deposits in July, according to the Australian Prudential Regulation Authority. ANZ's total [...]

POSTED ON September 3, 2004
ING Direct makes rivals see green

ING Direct has a business model that's the envy of other banks: no branches, low staff costs and reliable technology. It's a successful formula which [...]

POSTED ON August 26, 2004
Banks embark on fee ‘price war’

A price war has broken out between Australia's Big Four banks in the wake of a slowdown in mortgage lending and the entry of overseas [...]

POSTED ON August 24, 2004
Do you qualify for a ‘relationship discount’?

Relationship discounts are available from banks and credit unions for those borrowers who consolidate a range of banking business with the one institution. Home and [...]

POSTED ON August 11, 2004
RBA makes case for rate rise

The Reserve Bank has signalled an interest rate rise after the federal election, saying in its quarterly monetary policy statement that wage pressures and oil [...]

POSTED ON August 10, 2004
ALP’s tough line on banks

If elected to government, Labor would force banks to restore lost services to communities, give six months' notice for branch closures, provide fee-free basic accounts [...]

POSTED ON June 21, 2004
The best rates for savings

Online savings acounts continue to offer higher rates than other hi-yield accounts such as cash management accounts. Citibank's Online Cash Management account pays 5.4 per [...]

POSTED ON June 16, 2004
Big rate variations on term deposits

Attractive interest rate offers for term deposits continue to emerge but the rises have been very specific. Only some lenders have lifted and then only [...]

POSTED ON April 21, 2004
Bluestone offers retiree equity loan

Non-conforming lender Bluestone has launched a "reverse mortgage", aimed at borrowers over 60 who own their own homes but have little cash to live on. [...]

POSTED ON April 19, 2004
Banks lift service game

The latest Nielsen customer satisfaction survey shows the major banks are still lagging behind other financial institutions on service, despite improvement. For 2003, building societies [...]

POSTED ON April 14, 2004
Online savings rate rise again

Citibank has lifted the interest rate on its Online Cash Manager account from 5.25 to 5.40 per cent. This puts Citibank at the top of [...]

POSTED ON April 2, 2004
AMP lifts short-term deposit rates

AMP has lifted its interest rates on 1, 2 and 3-month term deposits to 5.5 per cent on balances of $25,000 and over. Infochoice market [...]

POSTED ON March 1, 2004
ANZ says customer charter lifts service

ANZ says its Customer Charter is improving service but the problem of customers waiting in queues for longer than five minutes is proving to be [...]

POSTED ON February 11, 2004
FLASH: RBA spares borrowers Feb rate rise

The Reserve Bank has left official interest rates on hold at 5.25 per cent at its February board meeting. This leaves the standard variable home [...]

POSTED ON February 4, 2004
New reverse mortgage for seniors

A West Australian credit union has become the fourth lender to offer a reverse mortgage to cash-poor, asset-rich retirees. A reverse mortgage allows those who [...]

POSTED ON February 4, 2004