A statement by the governor of the Reserve Bank of Australia (RBA):
“It’s not unreasonable to expect the normalisation of interest rates over the period could see them rise to 2.5 per cent.”
“How fast we will get there will be determined by events.”… Read the rest
The Commonwealth Bank will increase their base mortgage rate by 0.25%, in line with the RBA interest rate rise.
Their increase is effective from 20 May 2022.
CBA Home Loans
ANZ have announced they will increase their standard variable rate by the same 0.25%.
Their … Read the rest
The RBA announced that the Australian Cash Rate would change to 0.35% on 3rd May 2022. The new rate comes into effect the day after.
It had been 0.10% from 4th November 2020, after dropping from 0.25% on that date.
This increase of 0.25 is a higher increase than some … Read the rest
AfterPay make their money from two aspects of every sale.
It’s been reported that Afterpay charges retailers a $0.30 fixed transaction fee plus a commission between 3% and 7% on each sale.
AfterPay Income Sources
In 2019, retailers paid $179.6 … Read the rest
“I’ve just received this text message. Please advise if this is a scam. Urgent. Thank you.”
The above is a common reaction by some people who receive an email or text message regarding their bank account, or similar.
They often ask the question on public media, hoping for an answer.… Read the rest
ThevCommonwealth Bank has just increased its lowest 4 year fixed interest rate from 1.99% to 2.19% per year.
Commonwealth Bank fixed home loan interest rates.
1 year fixed rate 2.09%.
2 year fixed rate 1.94%.
3 year fixed rate 2.14%.
4 year fixed rate 2.19%.
5 Year Fixed Rate 2.99%.… Read the rest
Bank Australia was created in 2015, although the business actually began in 1957 as the CSIRO Co-operative Credit Society.
It became a bank after joining with 72 credit unions and other co-operatives to become Australia’s first customer-owned bank, eventually under the name ‘Bank Australia’.
Being … Read the rest
Coles have three options for their MasterCard offering.
From $0 Annual Fee up to $99 Annual Fee.
All allow you to earn Flybuy points to use at Coles Supermarkets, or even swap for other points such as “Virgin Australia Velocity” Points. The current rate for this is 2,000 Flybuys points … Read the rest
Sometimes we need to make a complaint about a bank service, but how?
The Complaint line numbers for the main Four Australian banks are:
More complaint line numbers at thecomplaintpoint-au.com
19th March 2020 RBA Decision
At a special meeting today, the Board decided to lower the cash rate by 25 basis points to 0.25 per cent, effective 19th March 2020.
This is in response to the COVID-19 coronavirus.
3rd March 2020 RBA Decision… Read the rest
