Which banks have hiked savings account and term deposit rates in June 2023?

At its June 2023 meeting, the Reserve Bank of Australia (RBA) board pushed the national cash rate up to 4.10%; the highest it’s been since April 2012. While these hikes are putting borrowers under increased pressure as their borrowing power shrinks, some savers may be able to benefit from rising savings rates that could make it easier to increase their wealth.

What you need to know about refinancing for debt consolidation

If you already have a home loan, and also owe money on credit cards, personal loans or car loans, you may be figuratively drowning in debt. Juggling the repayments on multiple loans can be challenging at the best of times, and if your financial circumstances were to suddenly change, such as if you lost your job or suffered a prolonged illness, you could be at real risk of defaulting on one or more debts.

Some of the best home loans in June 2023

With new figures indicating that inflation may be proving more stubborn than expected, more rate rises could arrive sooner or later this calendar year. Borrowers may need to look beyond the interest rates and compare the other fees, features and benefits of different home loans to find the mortgage that best suits their needs.

What to expect from the RBA meeting in June 2023

While there is a possibility that the Reserve Bank of Australia (RBA) could deliver another interest rate increase at its June 2023 meeting due to stubborn inflation, some major banks are predicting that the next rate hike won’t materialise until later in the year, if at all.

What is a credit card revert rate?

When credit card debt starts accumulating, you could consider a balance transfer, where you roll your debt onto a card charging low or no interest during its introductory period so you can pay it off quicker. However, you’ll also need to consider the card’s revert interest rate in case you don’t pay off your debt during the introductory period.  

What are the rewards of a gold credit card?

Not quite ready for a platinum account but want more rewards than your standard credit card? A gold credit card could be what you’re looking for.

What doesn’t affect your credit score?

You may be surprised by the information in your credit history that goes towards calculating your credit score. You may be even more surprised by what personal information about you does not affect your credit rating whatsoever.

Can you get a home loan when you’re being paid commissions?

Many Aussie salespeople earn a commission on the products or services they sell, which is calculated as a percentage of the total value of the sales. Commissions can vary for several reasons, such as changing seasonal demand for products or difficulties hitting sales targets.

Cost of living hits Buy Now Pay Later spending this Mother’s Day

While Australians traditionally go all-out splurging on gifts for Mum each Mother’s Day, this year we’ve had to tighten our belts, according to data from one of Australia’s Buy Now Pay Later (BNPL) providers.

Some of the best home loans for investors and refinancers in May 2023

A significant number of Australian homeowners are facing the fixed rate cliff, where the record-low fixed rates from the pandemic are set to revert to significantly higher variable rates in 2023. Following the May 2023 meeting of the Reserve Bank of Australia (RBA) where the cash rate was hiked to 3.85%, many borrowers may be searching for alternative home loans with increasing urgency.