Australians charged record $11.4 billion in bank fees last year: RBA. Households saw slight decrease but still forked out $4 BILLION. Most household bank fees can be avoided!
Record $11.4 BILLION in bank fees: stop paying too much!
Cash rate holds at 1.5%, yet mortgage stress on the rise
The RBA has left the cash rate on hold at the historical low of 1.5 per cent today. Yet, new research shows that the financial pressures of paying off a home loan are increasing.
Rates to hold at 1.5 per cent until 2017
The cash rate is set to hold at 1.50 per cent at Tuesday’s Reserve Bank meeting, with the Board likely to sit on its hands until the August cut has had a chance to flow through the economy.
Households still paying too much in bank fees
Australia’s banks collected over $4 BILLION in fees from households in 2010. Average household pays $506 per year in fees alone. Stop paying too much: most fees can be avoided.
Yes, it may be possible to get a $1,500 payday loan with bad credit. Some payday lenders give loans to people with bad credit histories if they believe the borrower has the capacity to repay the loan.
Under Australia’s responsible lending rules, lenders aren’t allowed to approve $1,500 payday loans if they don’t believe the borrower can make the repayments.