Household Bank Fees

Each year banks earn millions of dollars from household bank fees. The amount banks receive from household bank fees is money paid by households for fees charged on their financial products such as home loans, credit cards and personal loans.

The Reserve Bank of Australia (RBA) showed that the amount of household bank fees has increased since 2008 by $142 million, earning $5.03 billion in 2009. However a majority of these fees paid were from home loans, and include fees for exception fees, establishment fees, annual fees and more.

When applying for a home loan, make sure that you read the product disclosure statement (PDS) so that you are aware of all the fees and charges.

The table below shows current variable rate home loans with banks offering interest rates of less than 9 percent.