31 articles written by Georgie Hay
Suncorp goes it again in the Westpac aftermath
Australia’s sixth largest lender, Suncorp, is lifting its variable rates for the second time in less than six months.
Westpac becomes the first of the big four banks to hike out-of-cycle
Variable rate customers who have their mortgage with Westpac and some of their subsidiaries will be forking out an average of $35 extra per month and $420 per year, after the bank hiked rates by 14 basis points.
Bendigo Bank joins the out-of-cycle rates party
Australia’s seventh largest lender Bendigo Bank has become the latest home loan provider to hike rates out of cycle by up to 16 basis points.
Australians reach out to non-bank lenders to fill the gap
Australians are turning to non-bank lenders in increasing numbers as banks tighten their lending criteria, according to the ABS housing finance figures released today.
Our banks can do better than this: ASIC report highlights the need for greater credit card reform
ASIC’s proposed credit card reforms are another step towards better regulation around credit cards but more work is needed for Australians to step off the credit card debt treadmill.
Official interest rates on hold, but the out-of-cycle bank hikes keep coming
The RBA is almost certain to leave official interest rates on hold when it meets next Tuesday, but that hasn’t stopped lenders hiking rates out-of-cycle.
Banks rake in $4.5 billion in fees
Major banks have charged customers an eye-watering $4.5 billion dollars in bank fees an increase of $133 million on the previous year, according to latest figures released from the Reserve Bank of Australia.