Tag Archives: interest rates

Commonwealth Bank cuts fees to win back unhappy customers

The Commonwealth Bank is attempting to win back customers by scrapping fees across a range of mortgage and savings accounts after being stung by criticism of its interest rate rise last November.

The move, which includes the temporary removal of mortgage establishment fees, is part of efforts by the banking sector to smooth over relations with customers after a round of large out-of-cycle interest rate rises. Continue reading Commonwealth Bank cuts fees to win back unhappy customers

What sort of loan grabs your interest?

Most people, whether they are owner occupiers or investors, have to borrow money when purchasing property.

When you are in this situation, one of the most commonly asked questions you will ask yourself is:

“Should I take out a principal and interest or interest only loan?” Continue reading What sort of loan grabs your interest?

RBA: Interest rates on hold

Christmas cheer from borrowers as RBA says official interest rates will stay on hold after last month’s shock rise.

The Reserve Bank has left interest rates unchanged, providing relief for borrowers and retailers in the crucial shopping weeks before Christmas.

The central bank kept rates at 4.75 per cent – the level it raised them to last month – amid signs of weakness in parts of the economy not benefiting from the rekindled mining boom. Continue reading RBA: Interest rates on hold