WARNING: Cardless Cash scam offers $500. Commonwealth Bank is warning its customers about scam SMS text messages offering $500 and featuring a link that takes victims to a fake Netbank Cardless Cash page. The fake page instructs readers to “create a $500 cash code and this sum will be transferred to your account within an hour.” “We are aware of a hoax SMS offering a $500 bonus for testing Cardless Cash,” Commonwealth Bank posted on Facebook. “If you receive this SMS report it to email@example.com then delete.” ANZ reaches out to home loan borrowers. ANZ Bank has recognised that it has disappointed many borrowers by failing to pass on the RBA June rate cut in full. “We recognise some home loan customers will be disappointed,” ANZ senior executive Mark Hand told News Ltd newspapers. “We have needed to balance the increased cost in managing our business with our desire to provide customers with the most competitive lending and deposit rates.” Mark Hand suggested that home loan customers could look to refinance to a fixed rate and “lock in our historic low fixed rate home loans for our two and three year terms.” Compare fixed rate home loans from Australia’s major banks, credit unions and non-bank lenders here. Compare the top home loan products from Australia’s banks, credit unions, building societies and non-bank lenders here. Half of retirees have home loans. Almost half of all older Australian homeowners are moving into retirement with home loan debts. The number of homeowners aged 55 to 64 years who still owe money on a mortgage has tripled from 14 per cent to 47 per cent since 1990 according to data from the ABS. The number of Aussie homeowners aged 45 – 54 who have not finished paying off their mortgage has doubled from 36 per cent to 77 per cent. Average mortgage debt to income ratios have also blown out amongst all age groups according to analysis from RMIT and Curtin University housing experts. Big banks cut savings rates. National Australia Bank and Commonwealth Bank are cutting their savings account and term deposit rates. NAB is trimming savings account rates by between 0.10 percentage points and 0.25 percentage points according to media reports. CBA is cutting savings rates by up to 0.25 percentage points. A Commonwealth Bank spokesman said the bank has made changes the PenSec, GoalSaver and NetBank Saver interest rates. CBA cut term deposit rates last year. More banks cut savings account rates. Macquarie Bank has announced rate cut for transaction and savings accounts, cash management products and at-call investment accounts. Bendigo and Adelaide Bank has also cut rates on savings accounts and term deposits by an average 0.07 percentage points. An AMP Bank spokeswoman told The Australian that AMP is reducing most deposit interest rates by 0.25 percentage points and some term deposit rates by 0.05 percentage points.