loans

Consolidate Your Credit Card Debt Through A Personal Loan

Post by Sharat on January 14, 2018 · Under loans · Comment 

So we’re just into the second week of the new year and you are probably still feeling lots of resolve about sticking to your resolutions. You’ve probably been eating salads and heading to the gym as well as dusting off your piggy banks. If one of your new year’s resolutions is to get out from underneath the mountain of debt you have been under, then you should check out the new unsecured loan product being offer by Westpac.

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Banks Aggressively Cut Interest Rates On Loan Products As Year End Approaches

Post by Sharat on December 28, 2017 · Under loans · Comments Off on Banks Aggressively Cut Interest Rates On Loan Products As Year End Approaches 

So the end of the holiday season is approaching and you want to either go away on holiday or finally finish renovating your kitchen. The good news is that recently many banks have cut interest rates on their personal loan products. As many as nine different banks made cuts to interest rates on car and personal loans last month. St. George paved the way with a huge 200 basis point cut on its fixed rate loan products. Continue reading

Interest-Only-Borrowers Could Be In For A Hard Time

Post by Sharat on December 14, 2017 · Under loans · Comments Off on Interest-Only-Borrowers Could Be In For A Hard Time 

If you are interest-only-borrower, then you have had a difficult year. Not only has APRA cracked down on these kinds of loans but according to the latest research from Morgan Stanley, interest-only-borrowers are more likely to make poor financial decisions and pose a risk to their lenders. The research suggests that interest-only-borrowers have a higher chance of descending into debt and losing their savings if a high cost emerges. They are also likely to sell their property if interest rates rise which means they carry a high financial risk. Continue reading

Australian Banks Starting To Cut Fixed Interest Mortgage Rates

Post by Sharat on September 21, 2017 · Under loans · Comments Off on Australian Banks Starting To Cut Fixed Interest Mortgage Rates 

Many Australian banks have hiked rates on their interest-only loans recently, however that trend seems to be reversing with CBA joining a group of banks and cutting fixed rates on interest-only loans. The cut in interest rates applies only to CBA’s Fixed Wealth Package and Fixed Rate Home Loan products for both owner-occupiers and investors. Recently ANZ also cut its two-year fixed rate on interest-only loans by 10 basis points. The lender also increased the rate for principal and interest loans. Continue reading

Banks Cut Home Loan Rates

Post by Sharat on September 7, 2017 · Under loans · Comments Off on Banks Cut Home Loan Rates 

A number of banks have cut their headline mortgage rates for fixed and variable home loans for owner occupiers in advance of what is expected to be an extremely busy season for the property market this spring. For customers seeking out a low rate variable home loan, the biggest changes last month came from Greater Bank which slashed its rate by 15 basis points to 3.84%. Bank of Queensland followed suit by cutting its rate by 10 basis points to 3.79%. Continue reading