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.

Housing finance continues to fall as banks tighten serviceability

28 years since rates were at 17 per cent; are we any better off?

People power is the only way to send the big banks a message