Best term deposits for October 2020

With another Reserve Bank of Australia-led cash rate cut tipped for November, could now be the time to lock in a competitive term deposit rate?

Banks axe savings rates as RBA tipped to make Melbourne Cup Day rate cut

Thirty-one banks across Australia, including the likes of Westpac and ANZ, have trimmed savings rates in the past two weeks, according to RateCity data.

Homebuilder surpasses 11,000 applications, majority for new builds

A $680 million government initiative intended to stimulate the construction industry during the lull of the coronavirus pandemic has yielded more than 11,000 applications, but so far only about 800 people have received the funds.

Some of the best owner-occupier home loans in October 2020

The first recession in 30 years has done little to dampen the spirits of home loan borrowers.

The incentives available to Australian first home buyers, state-by-state

First home buyers are out in full force despite COVID-19, and that may well be thanks to the many financial incentives available to them.

RBA governor indicates an historic rate cut could be on the cards in November

Mortgage interest rates could fall to an unprecedented low if the head of the nation’s central bank acts on his strongest suggestion yet that the cash rate will be cut.

Afterpay versus credit cards: which is better for your finances

A younger generation of Australians are turning to Buy Now, Pay Later services to fund their spending. But two of the big four banks are stepping up to the plate, offering a no-interest credit card alternative to Afterpay and its competitors.

Mortgage holidays: Almost one in two resume home loan repayments

Almost half of all Australians who deferred their mortgages have resumed repayments, indicating the country is speedily recovering from its first recession in nearly three decades. 

Unit rents fall in Melbourne and Sydney, as houses across the country recover

The nation’s largest cities experienced strong falls in rental value, a new report reveals, slowing down a recovery underway in the rest of the country.

Australians are feeling confident about spending as the economy bounces back

Big bank economists are observing a rebound in people’s willingness to spend on items big and small, after the public stockpiled their savings for months in response to the uncertainty of a pandemic.

ANZ reduces savings and term deposit interest rates

ANZ has shaved rates on some of its savings and term deposit accounts, as savers continue to feel the pinch from low interest rates.

Financial stress due to COVID-19 easing but still rife

Money worries due to COVID-19 are easing for many households, but not everyone is out of financial strife yet.

Samsung Pay partners with eftpos when contactless payments needed most

Samsung Electronics Australia has partnered with eftpos to allow contactless transactions to be made through Samsung Pay, via the eftpos network.