The best banking news of the week
- Expert tips for cleaning up your debt this spring
- P&N Bank offers $ 3,000 rebate on home loans
- Australians happy with NBN’s prices and speed
- Westpac lowers savings rate to 2.50% pa
- PayPal brings contactless payments to garage sales
All in the best recap of banking news this week: editor’s choice.
Expert Advice: 3 Ways To Clean Up Your Loan & Credit Card Debt In The Spring
Spring is here, so it’s time to pull out the duster and give your finances a boost! Mozo spoke with the best experts in the industry and summarized 3 easy personal finance tips to clean up your loan and credit card debt this spring.
The first is to refinance your home loan. According to experts, if your rate doesn’t start with two or less, there is probably a better deal available in the market.
Second: Consolidate your personal debt. If you are struggling with multiple debts, as long as you can make regular monthly repayments, a single debt consolidation personal loan can save you money on interest rates and fees.
Third, look for a balance transfer offer. A 0% balance transfer offer can allow you to focus on paying off your credit card debt without worrying about interest on your balance during the promotional period.
Read the entire article: Expert Advice: 3 Ways To Spring Clean Up Your Loan And Credit Card Debt For More Expert Advice.
P&N Bank Gives Home Loan Clients $ 3,000 Cash Back
Announced this week, the Australian customer-owned bank is offering its customers a nice extra incentive.
P&N Bank will offer new mortgage clients $ 3,000 cash back when they take out a loan of $ 250,000 or more with a loan-to-value ratio (LVR) of 80% or less.
In addition to being available to homeowners and investors, P&N’s offering is available on both new and refinanced loans, which is actually unusual.
Interestingly, in the recent wave of repayment offers from home loan providers, the vast majority are only available to refinancers.
Read the entire article: P&N Bank has a new $ 3,000 repayment offer, and it’s not just for mortgage refinancers for the full picture.
Westpac lowers savings interest rate to 2.50%
This week, Westpac carried out a series of interest rate cuts on its savings accounts, including the Westpac Life account, aged 18-29, known for its key rate.
The Big Four Bank cut the rate by 50 basis points from 3.00% per annum to 2.50% per annum
Despite the large reduction, the savings account still ranks first in the Mozo database for bonus savings rates. In fact, all of the other bonus savings rates listed in Mozo’s database are less than 2.00% per annum.
Read the entire article: Westpac Life’s main interest rate was reduced overnight to find out more about the Westpac Life account.
Affordable home broadband: Australians happy with NBN price
A new study commissioned by NBN Co shows that most Australians are happy with both the price and speed of their home broadband compared to other countries.
NBN’s average price only costs 1.1% of average weekly Australian income, so it’s no surprise that 7 out of 8 people polled for the research survey said they had no concerns as to the current affordability of their NBN service.
Overall, Australia ranks well globally, with the sixth most affordable broadband among the 13 OECD countries compared in the report.
Read the entire article: Affordable home broadband: Australians happy with NBN prices to find out more.
PayPal brings contactless payments to Australian garage sales
Garage Sale Trail Becomes Contract Free!
What started as a local community event in East Sydney over a decade ago has now grown into a national event, with around 25,000 Australians participating in over 10,000 garage sales.
And now, for the Garage Sale Trail weekend, scheduled for November 13-14 and 20-21 this year, the event is teaming up with digital payment giant PayPal to go 100% contactless.
Here’s how it works: Sellers download the PayPal app and use QR code payments (or send simple PayPal links for online purchases).
All buyers and sellers need a smartphone and the app to complete the transaction, and customers can choose their preferred payment method – debit card, credit card, or PayPal balance
So, get ready to grab your smartphone and go on a bargain hunt!
Read the entire article: PayPal is teaming up with Garage Sale Trail for Two Weekends of Contactless Pre-Owned Shopping for more information on this exciting partnership.
Are you looking for a contactless option for shopping online? Then check out our top credit cards below to see what’s on: