STAR RATINGS REPORT. Personal Loans

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "STAR RATINGS REPORT. Personal Loans"

Transcription

1 2014 STAR RATINGS REPORT Personal Loans

2 Personal Loans November 2014 Foreword Most people, at some stage or another, have used a personal loan to fund an asset purchase or to pay off a dream holiday. I am on to my second car now, both bought with car loans, and have enjoyed the experience of being able to buy a car long before I could physically save up for one. A personal loan is a simple, uncomplicated product that has been used in a number of ways through the ages. The most popular use of a personal loan today is to consolidate debt, usually racked up on one or more credit cards and store cards. Isn t this a sign of the Mitchell Watson, Research Manager times? Money, particularly when it s not yours, can be easy to spend but a lot harder to repay. Sometimes the only way out is to convert all debt into a personal loan and pay it out in full over time. In this Personal Loans Star Ratings report you will see that the favourable interest rate landscape at the moment translates to some well-priced loans on the market. We have researched 19 products from nine providers to identify those which offer outstanding value for borrowers. These have been separated into secured and unsecured personal loans as well as personal loans specifically for debt consolidation, for ease of comparison by you. Personal Loans 1

3 BORROWING FUELS GROWTH There s no doubt personal borrowing underpins a household s wealth and lifestyle ambitions. Money for everyday items as well as cars, holidays and so forth is nearly always obtained through personal debt in the form of personal loans and/or credit cards. It s obvious our love affair with credit continues but at what cost? Borrowing is easy but repaying, well, that can sometimes be a stretch, particularly if life throws you a curve ball such as job loss, accident or illness. According to the Reserve Bank, the value of consumer loans has been creeping upwards. In the 12 months to June of this year, households owed just under $14.5 billion from banks and non-bank lenders, an additional $1 billion over the past two years. This figure does not include home loans. PERSONAL LOANS DOUBLY USEFUL Personal loans have been around for decades, and they remain relevant for two important reasons: 1. Purchasing cars or other big ticket household items, and 2. Consolidating debt that s gotten out of hand In terms of car purchase, using a personal loan negates the need to save up the cash before you walk into the car yard. This means you can get mobile (an important work requirement and/or personal requirement for many people) sooner. Paying the car off in set, regular instalments as you drive means you will actually own the asset at the end of the loan term. When the purchase is partnered with a comprehensive car insurance policy and a written budget that clearly demonstrates your capacity to repay, it s certainly a valid consideration. No debt should be taken on, though, without seeking professional advice. In terms of debt consolidation, we know that Kiwis are perhaps a little too fond of convenient credit. Currently we are collectively accruing interest on almost $6.2 billion of credit card debt alone. With the average credit card interest rate calculated by CANSTAR at 18.6%, our addiction to plastic is more scary than fantastic. Credit cards are the ultimate convenient money invention for the I want it now generation. One card leads to another the story is all too familiar until the time comes when the consumer is drowning in a sea of minimum repayments. Aside from winning the lottery, a solution is to round up your outstanding credit card and store card debts, take out a personal loan to pay them off and get them out of your life for good. Debt consolidation is one of the biggest reasons consumers take out personal loans but again, it s not a decision to make lightly. November

4 COUNTING THE COST OF CONSOLIDATING Making a concerted effort to pay down debt is a great hedge against any future shock. Borrowing is a costly business so the sooner you pay off the debt, the more interest you will save. The decision to tackle debt consolidation through a credit card or a personal loan is not helped by the fact that neither one leaps out as being superior through the interest rate offered. Looking at the spread between minimum and maximum interest rates on debt consolidation loans 13.82% to 22.99% - it could be argued that choosing the wrong debt consolidation loan is a costly exercise. A low-rate credit card may be better in this case. However, a personal loan does something a credit card does not. It takes away temptation. You cannot keep spending with a personal loan. A series of monthly instalments means you are locked in to repaying the loan in full by the end of the term. For some people who can t trust themselves to keep their credit card in their wallet under all circumstances, this is the sort of discipline needed to erase their debt in full. Interest Rate for Credit Cards and Debt Consolidation Loans Minimum Interest Rate Maximum Interest Rate Average Interest Rate Credit Card 12.90% 24.95% 18.63% Debt Consolidation Loan 13.82% 22.99% 18.29% WHY THE HEFTY RATES? Source: CANSTAR With the official cash rate languishing at 3.5%, it would be nice to see a flow-on effect with lending products. Alas, it is not to be. Although the official cash rate doesn t by itself determine how the banking system prices its loans, we live in hope. Even our old sparring partner, Australia, with its cash rate at 2.5%, has a more attractive range of interest rates for its suite of personal loans (see table below). Comparison of personal loan interest rates for New Zealand and Australia Loan Type Minimum Interest Rate Maximum Interest Rate Average Interest Rate Unsecured Personal Loan Australia 7.99% 23.49% 13.42% Unsecured Personal Loan NZ 13.82% 22.99% 18.06% Secured Personal Loan Australia 5.25% 23.49% 10.33% Secured Personal Loan NZ 11.73% 16.28% 14.59% Source: CANSTAR personal loan star ratings, October 2014 The provision of unsecured debt no doubt comes with its share of customers who default but it would be interesting to know the statistics and understand the thinking behind how lenders come to price these consumer loans. Personal Loans 3

5 WHAT BORROWING OPTIONS DO YOU HAVE? When it comes to personal debt, consumers have a number of options. Before going into debt, be objective about your needs and capacity to repay. Realism is much better than idealism in this case. Here is a brief rundown of your borrowing options. PERSONAL LOAN Pros: You can pretty much borrow any amount you like, as long as you can demonstrate an ability to repay For fixed rate loans you have the option to repay over any length of time from one month up to 10 years Because the debt amount is fixed, it prevents you adding to it via impulse purchases The average personal loan interest rate is lower than the average credit card interest rate You have the certainty of a regular repayment amount and interest rate if you choose a fixed-rate option By the end of the loan term, your debt should be fully paid off Cons: The debt amount cannot generally be increased You must meet your repayment obligations regularly CREDIT CARD Pros: They can be a convenient source of unsecured credit You can take advantage of bargain buys all year round You will pay no interest if repaying in full during a set timeframe specified by your financial institution You have the option to repay only the minimum amount if you choose Cons: Credit cards can represent a temptation to overspend continually Because there is no specified loan term, there is the associated risk of creating a never-ending debt You will generally face interest rates if you do not pay the outstanding balance in full each month OVERDRAFT FACILITY Pros: Can be a great emergency measure for the months when you need just a bit more cash, by allowing you to overdraw your account up to an agreed amount The interest rate tends to be similar to a typical personal loan There are no application fees Cons: It is only available to those with a good credit rating It is generally not suitable for larger amounts of money Non-authorised overdrafts are generally not allowed. If they are, expect to pay over 20% interest for the privilege November

6 HOME LOAN LINE OF CREDIT Pros: A line of credit has one of the cheapest ongoing interest rates of all borrowing options It is attractive for larger projects such as home renovations Cons: Not everyone has a home to secure a line of credit against Because most home loans have a long lifespan (typically 25 or 30 years) you can end up paying a lot of additional interest over the loan term if you do not focus on paying off the additional debt within a reasonable timeframe HOME LOAN REDRAW Pros: As the redraw is extra money that you have paid onto your home loan you are essentially using your own savings The ongoing interest rate will be the same as your ongoing home loan interest rate Cons: Not everyone has a home loan Your borrowing capacity is limited to whatever extra amount you have parked in your home loan PAYDAY LOAN Pros: It can be a useful to borrow small amounts if you re short of cash temporarily High risk borrowers are considered There is generally no security required Cons: You will usually face a high interest rate There can be other fees and brokerage on top of the interest charges You may run the risk of getting caught in a debt spiral Personal Loans 5

7 HOW LONG & HOW MUCH? Personal loans can be taken out for as long as 10 years, with six years being the average time frame offered by lenders. Loan Term offered for Fixed Rate Secured and Unsecured Personal Loans Maximum Loan Term (in years) Average Loan Term (in years) Unsecured Personal Loan 10 6 Secured Personal Loan 10 6 Source: CANSTAR personal loan star ratings, October 2014 When considering a personal loan, think carefully about a loan term that would best suit you and your purpose. Cut the term short and you may find yourself struggling to find that larger amount of money each month. On the other hand, if you spread the loan over too long a term, you ll pay more interest overall and, chances are, the car you are paying off won t be worth that amount of money at the end of the loan term. Interest rates should also be a determining factor. As you can see from the chart below, there is quite a spread between the lowest and highest rates charged in all three personal loan categories. That s why it s all the more important to use the CANSTAR personal loans star ratings as a shopping guide before deciding on the loan that s right for you. Interest Rates for Personal Loans Loan Type Minimum Interest Rate Maximum Interest Rate Average Interest Rate Debt Consolidation Loan 13.82% 22.99% 18.29% Unsecured Personal Loan 13.82% 22.99% 18.06% Secured Personal Loan 11.73% 16.28% 14.59% Source: CANSTAR personal loan star ratings, October Note this includes fixed and variable rate products It is interesting to note that the low-rate loans in the table above are all fixed-rate loans. Fixing your interest rate gives you certainty that your repayments will stay the same for the term of your loan; it s a buffer against rates going up and hence increasing your repayment amount. A rate increase may cause a problem if you are on a strict budget and only have a set amount to devote to the loan. When looking at variable rates only, we can see that the minimum interest rates on offer across the products researched are much higher, as follows: Interest Rates for Personal Loans variable rate Loan Type Minimum Interest Rate Maximum Interest Rate Average Interest Rate Debt Consolidation Loan 17.91% 17.95% 17.93% Unsecured Personal Loan 17.91% 17.95% 17.93% Secured Personal Loan 16.28% 16.28% 16.28% Source: CANSTAR personal loan star ratings, October 2014 Remember that the decision whether to fix or take the gamble with variable boils down to each individual situation. November

8 WHAT TO LOOK FOR Even though a personal loan is a simple product, there are still a few things to be aware of, all of which you will know if you do your research before going to the bank or credit union. How to avoid the tricks and traps: Stick to the amount you want to borrow and resist upselling. The added interest is better off in your pocket. Don t be dazzled by the amount you will pay each month. Application, or establishment, fees ranging from $150 to $275 will bump that up. These small bits and pieces add up. Make sure you re aware of any penalty for paying off your loan early or for making extra lump sum payments towards reducing your debt. It goes without saying to warn against missing a payment, but we re all human and slip up occasionally. Paying a little extra each month will give you a buffer against a missed payment penalty. If you are consolidating debt, cut up the offending credit card but don t forget to officially close the account, otherwise you re still up for the annual fee and, hey presto, another card will arrive in the mail to start the cycle all over again. Features offered by providers of personal loans Feature Number of providers Proportion of providers Extra repayments allowed 9 100% No early repayment penalty 7 78% Redraw facility available 2 22% Top up facility 6 67% Repayment via branch 9 100% Repayment via telephone 8 89% Repayment via internet 7 78% Repayment via direct credit 7 78% Repayment via BPAY/BillPayment 6 67% Repayment via cheque 6 67% Repayment accepted via third party 4 44% Source: CANSTAR personal loan star ratings, October 2014 Personal Loans 7

9 REPAY EARLY, SAVE BIG BUCKS It goes without saying that if you put extra money into your personal loan, you will slice the time it takes to pay off the debt and save yourself a bundle in interest at the same time. The table below illustrates what happens when you borrow $10,000 over seven years. By sticking to the set monthly repayment, you will have paid nearly $7,685 as the interest component after the seven year term. However, if you put an extra $45 per month into the loan, you ll shorten its life by two years and save yourself over $2,400 in interest. Interest savings from early repayment of an unsecured personal loan Set Repayment Extra Repayment Difference Amount Borrowed $10,000 $10,000 Interest Rate 18.06% 18.06% Loan Term (in years) Monthly Repayments $ $ $43.73 Total Repayments $17,685 $15,256 -$2,429 Total Interest Paid $7, $5, $2,429 Source: CANSTAR Assumptions: Total Interest Paid is based on monthly repayments made over the term of the loan on a $10,000 loan amount at the average interest rate for Unsecured Personal Loans. Fees and charges not included. THE FIVE STAR PRODUCTS Having crunched the numbers and tested 19 loans from nine providers, CANSTAR has come up with a comprehensive ratings list to determine which loans offer outstanding value for money. We found: 2 x 5-Star Rated Debt Consolidation Loans 2 x 5-Star Rated Personal Loans Unsecured 2 x 5-Star Rated Personal Loans - Secured To check the methodology we used in our star ratings, see the document at the end of the results report below. November

10 Personal Loans STAR RATINGS METHODOLOGY METHODOLOGY PERSONAL LOANS STAR RATINGS What are the CANSTAR personal loans star ratings? CANSTAR personal loans star ratings is a sophisticated and unique ratings methodology that compares the dominant personal loan products in New Zealand. The results are reflected in a consumer-friendly 5-star concept, with 5 stars signifying outstanding value offered by the product. What types of products are evaluated in CANSTAR Personal Loan Star Ratings? We have compared 19 personal loan products from nine institutions. For our analysis, three profiles were used based on the security and main uses of personal loans: Profile Name Description Debt Consolidation Loans must be available for debt consolidation and be available for the loan amount and loan term used in the debt consolidation scenario ($15,000 over three years) Unsecured Personal Loan Loans must be available for the loan amount and loan term used in the personal loan scenario ($10,000 over three years) Secured Personal Loan Loans must be capable of being secured against at least a motor vehicle and be available for the loan amount and loan term used in the personal loan scenario ($20,000 over five years) CANSTAR Star Ratings Methodology Each personal loan reviewed for the CANSTAR personal loan star ratings is awarded points for its comparative pricing and for the array of positive features attached to the product. Points are aggregated to achieve a Pricing score and a Feature score. To arrive at the total score CANSTAR applies a weight against the Pricing and Feature scores. This method can be summarised as: TOTAL SCORE = W1 PRICING SCORE + W2 FEATURE SCORE Personal Loans 9

11 Pricing Score 70% Total Cost Includes interest cost, establishment fees, ongoing costs and any one-off fees (Doc fee & Doc release fee) Feature Score 30% Features Includes 10 different categories Price Score Feature Score Debt Consolidation 70% 30% Unsecured Personal Loan 70% 30% Secured Personal Loan 70% 30% Pricing Score The pricing score is based on a transaction scenario reflecting a loan amount and loan term typical of each profile (see table below). Total cost in each scenario is calculated based on the six month average interest cost, establishment fee, ongoing costs and any one-off fees where applicable (i.e. in the Secured Personal Loan profile). For loans that gave a range of interest rates, the midpoint between the minimum and the maximum rate was used for calculation of each of the scenarios. The total cost is then indexed against each personal loan in the profile and then weighted to determine the overall personal loan pricing score. Total Cost Scenarios Loan Amount Loan Term Debt Consolidation $15,000 3 years Unsecured Personal Loan $10,000 3 years Secured Personal Loan $20,000 5 years November

12 Feature Score Each loan feature is categorised into one of ten different categories (outlined below) and is allocated points. Points are awarded for positive loan traits such as low fees or greater flexibility. The total feature score for each category (e.g. lending terms) is ranked and weighted with each category contributing to the overall feature score. Category Weightings Feature Category Debt Consolidation Unsecured Personal Loan Secured Personal Loan Examples of data captured Lending Terms 25% 22% 21% Loan Purpose - 11% 10% Deposit Requirements - - 5% Security Requirements - - 3% Repayment Capabilities 25% 22% 21% Min/Max conditions, income/repayment ratio, rate Motorcycle, new/used cars, holidays, renovation 100% loan availability, min/max deposit requirements Unsecured, partial, bill of sale, lien of term deposit Min repayment requirement, avenues, repayment options Channel Availability (Application through Branch, Internet, Broker, Phone) Application Process 19% 17% 16% Required Documents (Bank reference, pay slips, proof of residency, tax return) Turnaround times (Standard approval turnaround) Additional Fees & Charges 10% 9% 8% Repayment penalties, missed payment penalty Redraw/Offset Facility 15% 13% 12% Availability, conditions, fees Loan Insurance 3% 3% 2% Loan purpose insurance, loan insurance details Statement options 3% 3% 2% Frequency options, online option How many products and financial institutions are analysed? In order to calculate the ratings, CANSTAR analysed 19 personal loans from nine financial institutions in New Zealand. Personal Loans 11

13 How often are all the products reviewed for rating purposes? All ratings are fully recalculated annually based on the latest features offered by each lender. CANSTAR also monitors changes on an ongoing basis. The results are published in a variety of mediums (newspapers, magazines, television, websites etc). How are the stars awarded? CANSTAR ranks personal loans based on value-for-money measures and then awards star ratings according to rank. The number of products awarded each of the 5 to 3 star ratings will ultimately depend on the dispersion of final scores. Scores are awarded to each product on the basis of price and features. The methodology is revised and parameters are updated on a regular basis to make sure that the products are analysed using the most up-todate information capturing all industry developments. Does CANSTAR rate all products available in the market? We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. However this process is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Does CANSTAR rate other product areas? CANSTAR researches, compares and rates the suite of banking and products listed below. These star ratings use similar methodologies to guarantee quality, consistency and transparency. Results are freely available to consumers who use the star ratings as a guide to product excellence. The use of similar star ratings logos also builds consumer recognition of quality products across all categories. Please access the CANSTAR website at if you would like to view the latest star ratings reports of interest. Business deposits Cash PIE Credit cards Credit card rewards Home loans KiwiSaver Online banking Personal loans Savings accounts Transaction accounts Term deposits COPYRIGHT DISCLAIMER: & TRADEMARKS To CANSTAR the extent that New the Zealand information Limited in this ( ), report constitutes general The recipient advice, this must advice not has reproduce been prepared or transmit by CANSTAR to third parties Research the Pty whole Ltd A.C.N. or any 114 part 422 of 909 AFSL and this ACL work, whether ( CANSTAR ). attributed to The CANSTAR information has not, been unless prepared with prior without written taking permission into account from your CANSTAR, individual which investment if provided, objectives, may financial be provided circumstances on or needs. conditions. Before you decide whether or not to acquire a particular financial product you should assess whether it is appropriate for you in the light of your own personal circumstances, The word CANSTAR", having regard the gold to your star own in a objectives, circle logo financial (with or situation without and surmounting needs. You stars), may wish are to trademarks obtain financial or registered advice from trademarks a suitably of qualified CANSTAR adviser before making Pty Ltd any A.C.N. decision to acquire 165. a Reference financial product. to third CANSTAR party products, provides services information other about information credit products. by trade It is name, not a credit trademark provider or otherwise and in giving does you not information it is not constitute making or any imply suggestion endorsement, recommendation sponsorship to or you recommendation about a particular of CANSTAR credit product. by the Please respective refer to trademark CANSTAR s owner. FSG for more information. The information in this report must not be copied or otherwise reproduced, repackaged, further transmitted, transferred, disseminated, redistributed or resold, or DISCLAIMER stored for subsequent use for any purpose, in whole or in part, in any form or manner or by means whatsoever, by any person without CANSTAR s prior written To the extent that any CANSTAR data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR New consent. All information obtained by CANSTAR from external sources is believed to be accurate and reliable. Under no circumstances shall CANSTAR have any liability Zealand Limited ( ) FSP and does not take into account your individual investment objectives, financial circumstances or to any person or entity due to error (negligence or otherwise) or other circumstances or contingency within or outside the control of CANSTAR or any of its directors, needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as officers, such. CANSTAR employees or recommends agents in connection that, before with you the make procurement, any financial collection, decision, compilation, you seek analysis, professional interpretation, advice from communication, a suitably qualified publication, adviser. or delivery A of any such information. Copyright 2014 CANSTAR Research Pty Ltd A.C.N The word CANSTAR, the gold star in a circle logo (with or without surmounting stars), are trademarks or registered trademarks of CANSTAR Pty Ltd. Reference to third party products, services or other information by trade name, trademark or otherwise does not constitute or imply endorsement, sponsorship or recommendation of CANSTAR by the respective trademark owner. November

14 Personal Loan Star Ratings We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Secured Personal Loans Report Date: NOVEMBER 2014 Company Product Current Rate (%) Apply Online Monthly Loan Fee Application Loan Amount Minimum Maximum Loan Term Holiday Consolidate Debt Home Renovation Outstanding Value All ratings take into account costs and features - see our methodology document for further details Co-operative Bank Personal Loan Secured to Nil $200 $3,000 No Max 1 mth to 5 yrs TSB Bank Personal Loan Secured Nil $150 $500 $20,000 1 yr to 5 yrs ASB Bank NZ Personal Loan Secured Nil $250 $2,000 No Max 1 yr to 7 yrs NZCU Baywide Secured Personal Loan to Nil $200 $1,000 No Max 1 yr to 10 yrs Westpac NZ Personal Loan Secured to Nil $250 No Min No Max variable Co-operative Bank Vehicle Loan to Nil $200 $3,000 No Max 1 mth to 5 yrs GE Money NZ Car Loan Secured to Nil $275 $5,000 No Max variable Kiwibank NZ Vehicle Loan to Nil $275 $3,000 No Max 6 mths to 7 yrs your guide to product excellence Report Date: November, 2014 (All information correct as at 1 October 2014) PERSONAL LOAN STAR RATINGS PAGE 1

15 Personal Loan Star Ratings Report Date: NOVEMBER 2014 We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Unsecured Personal Loans Company Product Current Rate Apply Online Monthly Loan Fee Application Loan Amount Minimum Maximum Loan Term Holiday Consolidate Debt Home Renovation Outstanding Value All ratings take into account costs and features - see our methodology document for further details TSB Bank Personal Loan Unsecured Nil $150 $500 $20,000 1 yr to 5 yrs Westpac NZ Personal Loan Unsecured to Nil $250 No Min No Max variable ANZ Bank NZ Fixed Personal Loan to Nil $250 $3,000 No Max 6 mths to 7 yrs ASB Bank NZ Personal Loan Unsecured Nil $250 $2,000 No Max 1 yr to 7 yrs Bank of New Zealand NZ Advanced Personal Loan Nil $250 $1,000 $30,000 variable Co-operative Bank Personal Loan Unsecured to Nil $200 No Min $30,000 1 mth to 5 yrs GE Money NZ Personal Loan Unsecured to Nil $275 $3,000 $100,000 6 mths to 7 yrs Kiwibank NZ Personal Loan to Nil $250 $3,000 $100,000 6 mths to 7 yrs NZCU Baywide Unsecured Personal Loan to Nil $200 $1,000 No Max 1 yr to 10 yrs your guide to product excellence Report Date: November, 2014 (All information correct as at 1 October 2014) PERSONAL LOAN STAR RATINGS PAGE 1

16 Personal Loan Star Ratings Report Date: NOVEMBER 2014 We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is not always possible and it may be that not every product in the market is included in the rating nor every feature compared that is relevant to you. Debt Consolidation Loan Company Product Current Rate (%) Apply Online Monthly Loan Fee Application Minimum Loan Amount Maximum Loan Term Unsecured 100% Loan Available Outstanding Value All ratings take into account costs and features - see our methodology document for further details ASB Bank NZ Debt Consolidation Nil $250 $2,000 No Max 1 yr to 7 yrs TSB Bank Personal Loan Unsecured Nil $150 $500 $20,000 1 yr to 5 yrs ANZ Bank NZ Fixed Personal Loan to Nil $250 $3,000 No Max 6 mths to 7 yrs ASB Bank NZ Personal Loan Unsecured Nil $250 $2,000 No Max 1 yr to 7 yrs Bank of New Zealand NZ Advanced Personal Loan Nil $250 $1,000 $30,000 variable Co-operative Bank Personal Loan Unsecured to Nil $200 No Min $30,000 1 mth to 5 yrs NZCU Baywide Unsecured Personal Loan to Nil $200 $1,000 No Max 1 yr to 10 yrs Westpac NZ Personal Loan Unsecured to Nil $250 No Min No Max variable GE Money NZ Debt Consolidation Loan to Nil $275 $3,000 $100,000 6 mths to 7 yrs GE Money NZ Personal Loan Unsecured to Nil $275 $3,000 $100,000 6 mths to 7 yrs Kiwibank NZ Personal Loan to Nil $250 $3,000 $100,000 6 mths to 7 yrs your guide to product excellence Report Date: November, 2014 (All information correct as at 1 October 2014) PERSONAL LOAN STAR RATINGS PAGE 1

Despite this caution, personal loans endure and for some consumers personal loans do offer distinct benefits. These benefits include:

Despite this caution, personal loans endure and for some consumers personal loans do offer distinct benefits. These benefits include: Report No. 3 November 2013 IN THIS REPORT We research and rate 19 products from 9 providers to determine those which offer outstanding value for consumers. NEW ZEALANDERS ARE REDUCING PERSONAL DEBT Like

More information

PERSONAL LOAN STAR RATINGS

PERSONAL LOAN STAR RATINGS METHODOLOGY PERSONAL LOAN STAR RATINGS What are the CANSTAR personal loan star ratings? CANSTAR personal loan star ratings are a sophisticated rating methodology, unique to CANSTAR, which compare the dominant

More information

What types of products are evaluated by CANSTAR Business Loans Star Rating?

What types of products are evaluated by CANSTAR Business Loans Star Rating? METHODOLOGY Business Loans What is the CANSTAR Business Loans Star Rating? CANSTAR Business Loans Star Ratings uses a sophisticated and unique ratings methodology that compares both Cost and Features across

More information

METHODOLOGY BUSINESS TRANSACTION AND SAVINGS ACCOUNTS STAR RATINGS

METHODOLOGY BUSINESS TRANSACTION AND SAVINGS ACCOUNTS STAR RATINGS METHODOLOGY BUSINESS TRANSACTION AND SAVINGS ACCOUNTS STAR RATINGS What are the CANSTAR Business Transaction and Savings Account Star Ratings? CANSTAR s Business Transaction and Savings Account Star Rating

More information

METHODOLOGY Home Loans

METHODOLOGY Home Loans METHODOLOGY Home Loans What is the CANSTAR Home Loan Star Rating? CANSTAR Home Loan Star Ratings use a sophisticated and unique ratings methodology that compares both Cost and Features across home loan

More information

ONLINE SHARE TRADING

ONLINE SHARE TRADING METHODOLOGY ONLINE SHARE TRADING What are the CANSTAR Online Share Trading Star Ratings? CANSTAR Online Share Trading Star Ratings is a sophisticated and unique ratings methodology that compares both Cost

More information

CHRISTMAS ON CREDIT IN THIS REPORT

CHRISTMAS ON CREDIT IN THIS REPORT December 2013 IN THIS REPORT We research & rate 52 credit cards offered by 10 institutions to determine the cards offering the best value for consumers across four spending profiles. CHRISTMAS ON CREDIT

More information

AWARD REPORT. Fixed Rate Home Loans

AWARD REPORT. Fixed Rate Home Loans 2015 AWARD REPORT Fixed Rate Home Loans Fixed Rate Home Loans September 2015 Foreword To fix or not to fix: it s a question that many home buyers struggle with. On the one hand, locking in an interest

More information

BUSINESS CREDIT CARDS

BUSINESS CREDIT CARDS METHODOLOGY BUSINESS CREDIT CARDS STAR RATINGS METHODOLOGY What are the CANSTAR Business Credit Cards Star Ratings? CANSTAR Business Credit Cards Star Ratings involve a sophisticated rating methodology,

More information

DIRECT LIFE INSURANCE STAR RATINGS

DIRECT LIFE INSURANCE STAR RATINGS METHODOLOGY DIRECT LIFE INSURANCE STAR RATINGS What are the CANSTAR Direct Life Insurance Star Ratings? CANSTAR Direct Life Insurance Star Ratings use a sophisticated and unique ratings methodology that

More information

Business customers who require 120 or more transactions per month. Business customers who require around 30 transactions per month

Business customers who require 120 or more transactions per month. Business customers who require around 30 transactions per month Report No. 1 Aug 2013 IN THIS REPORT: CANSTAR research 18 business deposit accounts, across 8 financial institutions THERE IS MONEY TO BE SAVED BY SMALL BUSINESS OWNERS. With business confidence continuing

More information

Business Credit Cards

Business Credit Cards METHODOLOGY Business Credit Cards What are the CANSTAR Business Credit Cards Star Ratings? CANSTAR Business Credit Cards Star Ratings involve a sophisticated rating methodology, unique to CANSTAR, which

More information

STAR RATINGS REPORT. Business credit cards

STAR RATINGS REPORT. Business credit cards 2014 STAR RATINGS REPORT Business credit cards August 2014 BUSINESS CREDIT CARDS IN THIS REPORT We research and rate 13 business credit cards from seven providers across New Zealand, to see which offers

More information

BANK OF THE YEAR SMALL BUSINESS AWARD

BANK OF THE YEAR SMALL BUSINESS AWARD METHODOLOGY BANK OF THE YEAR SMALL BUSINESS AWARD What are the CANSTAR Business Banking Star Ratings? CANSTAR Business Banking Star Ratings use a sophisticated rating methodology, unique to CANSTAR, which

More information

STAR RATINGS REPORT. Home Loans

STAR RATINGS REPORT. Home Loans 2015 STAR RATINGS REPORT Home Loans Home Loans September 2015 Foreword There s no doubt that getting into the property market is still the Great Australian Dream, but the average housing in our capital

More information

Credit Card Rewards METHODOLOGY

Credit Card Rewards METHODOLOGY METHODOLOGY Credit Card Rewards What are the CANSTAR Rewards Star Ratings? CANSTAR Rewards Star Ratings are a consumer-friendly benchmark or value index. CANSTAR star-rated products represent a shortlist

More information

STAR RATINGS REPORT. Business credit cards

STAR RATINGS REPORT. Business credit cards 2014 STAR RATINGS REPORT Business credit cards August 2014 BUSINESS CREDIT CARDS IN THIS REPORT In this report we research and rate 28 credit cards offered by 17 financial institutions to find those cards

More information

Whether via a smartphone, tablet or desktop, more than two million New Zealanders now use online banking. WE RE ALL GETTING ONLINE

Whether via a smartphone, tablet or desktop, more than two million New Zealanders now use online banking. WE RE ALL GETTING ONLINE Report No. 2 May 2013 Whether via a smartphone, tablet or desktop, more than two million New Zealanders now use online banking. WE RE ALL GETTING ONLINE Age % 15 24 68 25 34 87 35 44 81 45 54 73 55 64

More information

HOME & CONTENTS INSURANCE

HOME & CONTENTS INSURANCE METHODOLOGY HOME & CONTENTS INSURANCE HOME & CONTENTS INSURANCE STAR RATINGS METHODOLOGY What is the CANSTAR Home & Contents Star Ratings? CANSTAR Home & Contents Star Ratings use a sophisticated rating

More information

STAR RATINGS REPORT. International Money Transfers

STAR RATINGS REPORT. International Money Transfers 2015 STAR RATINGS REPORT International Money Transfers International Money Transfers November 2015 Foreword Australians send around $2 billion overseas every year, according to the World Bank. This is

More information

Direct Income Protection

Direct Income Protection METHODOLOGY Direct Income Protection What are the CANSTAR Direct Income Protection Star Ratings? CANSTAR Direct Income Protection Star Ratings use a unique ratings methodology that compares both cost and

More information

HOME LOANS STAR RATINGS. Speeds of change. Going, going down? March 2014

HOME LOANS STAR RATINGS. Speeds of change. Going, going down? March 2014 March 2014 STAR RATINGS HOME LOANS Speeds of change As of October 1, 2013, the Reserve Bank of New Zealand made some significant rule changes concerning Loan to Value Ratios (LVRs) for home loans. The

More information

BUSINESS LIFE INSURANCE STAR RATING METHODOLOGY

BUSINESS LIFE INSURANCE STAR RATING METHODOLOGY BUSINESS LIFE INSURANCE STAR RATING METHODOLOGY What are the CANSTAR business life insurance star ratings? CANSTAR business life insurance star ratings are a sophisticated rating methodology, unique to

More information

STAR RATINGS REPORT. International Money Transfers

STAR RATINGS REPORT. International Money Transfers 2014 STAR RATINGS REPORT International Money Transfers International Money Transfers October 2014 Foreword Speak with anyone who has transferred money overseas and you will quickly find out it is a whole

More information

METHODOLOGY FUNERAL INSURANCE STAR RATINGS

METHODOLOGY FUNERAL INSURANCE STAR RATINGS q METHODOLOGY FUNERAL INSURANCE STAR RATINGS What is the CANSTAR Funeral Insurance Star Ratings? CANSTAR s Funeral Insurance Star Ratings uses a sophisticated and unique methodology that compares the combination

More information

STAR RATINGS REPORT. Business Transaction & Savings Accounts

STAR RATINGS REPORT. Business Transaction & Savings Accounts 2015 STAR RATINGS REPORT Business Transaction & Savings Accounts Business Transaction & Savings Accounts NZ August 2015 Foreword According to Statistics New Zealand we have almost half a million actively

More information

STAR RATINGS REPORT. Home Loans

STAR RATINGS REPORT. Home Loans 2015 STAR RATINGS REPORT Home Loans Home Loans Star Ratings Report 2015 Foreword It s more than likely buying a home will be the biggest financial investment you will make in your life. Apart from physical

More information

STAR RATINGS REPORT. Credit Card Rewards New Zealand

STAR RATINGS REPORT. Credit Card Rewards New Zealand 2015 STAR RATINGS REPORT Credit Card Rewards New Zealand Credit Card Rewards May 2015 Foreword Using a credit card as a spending vehicle, for most of us, is taking on a higher profile. For those who make

More information

STAR RATINGS REPORT. Business Credit Cards

STAR RATINGS REPORT. Business Credit Cards 2015 STAR RATINGS REPORT Business Credit Cards Business Credit Cards August 2015 Foreword A good credit card is essential for just about every business these days. It s an easy method of payment for costs

More information

CAR INSURANCE STAR RATINGS

CAR INSURANCE STAR RATINGS METHODOLOGY CAR INSURANCE STAR RATINGS What are the CANSTAR Car Insurance Star Ratings? CANSTAR Car Insurance Star Ratings are a sophisticated rating methodology, unique to CANSTAR, that compare both Cost

More information

STAR RATINGS REPORT. Package Home Loans

STAR RATINGS REPORT. Package Home Loans 2015 STAR RATINGS REPORT Package Home Loans Package Home Loans January 2015 Foreword Buying a home (or investment property) is one of the most significant decisions that many of us make in life. True,

More information

AWARD REPORT. Small Business

AWARD REPORT. Small Business 2014 AWARD REPORT Small Business August 2014 SMALL BUSINESS IN THIS REPORT The very specialised and diverse nature of small business operations requires a specialised banking response. We examine how financial

More information

METHODOLOGY LIFE INSURANCE STAR RATING

METHODOLOGY LIFE INSURANCE STAR RATING METHODOLOGY LIFE INSURANCE STAR RATING What are the CANSTAR Life Insurance Star Ratings? CANSTAR Life Insurance Star Ratings use a sophisticated and unique ratings methodology that compares both cost and

More information

BUSINESS LOANS STAR RATINGS. Despite the recent Hockey Hiccup, Small business the big picture. June 2014

BUSINESS LOANS STAR RATINGS. Despite the recent Hockey Hiccup, Small business the big picture. June 2014 June 2014 STAR RATINGS BUSINESS LOANS IN THIS REPORT We research and rate the suite of business banking products: 40 term loans 46 overdrafts } From 18 providers Small business the big picture Despite

More information

STAR RATINGS REPORT. Credit Cards

STAR RATINGS REPORT. Credit Cards 2016 STAR RATINGS REPORT Credit Cards Credit Cards January 2016 Foreword How s this for a New Year s Resolution? Making the most of the credit card rewards we earned buying Christmas presents or maybe

More information

Home Loan Refinancing Guide

Home Loan Refinancing Guide Home Loan Refinancing Guide Contents How refinancing works... 3 Steps to refinancing... 4 Choose the home loan that s right for you... 4 Give your loan a regular 'health check'... 9 Aussie is a trade mark

More information

WHAT ARE MANAGED INVESTMENTS?

WHAT ARE MANAGED INVESTMENTS? January 2014 DISCLAIMER: To the extent that any CANSTAR data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR Research Pty Ltd ABN 29 114 422 909 AFSL 437917

More information

Some companies allow you to add other benefits such as Total and Permanent Disablement, Trauma and Income Protection using the same process.

Some companies allow you to add other benefits such as Total and Permanent Disablement, Trauma and Income Protection using the same process. Report No. 2 August 2010 IN THIS REPORT We research & rate: Direct life insurance policies offered by 16 providers BUYING DIRECT: HOW DOES IT DIFFER? T here are now two ways of buying life insurance: through

More information

PRICING SCORE (PS) + FEATURES SCORE (FS) = TOTAL SCORE (T)

PRICING SCORE (PS) + FEATURES SCORE (FS) = TOTAL SCORE (T) -+ METHODOLOGY What are the CANSTAR Car Insurance Star Ratings? CANSTAR Car Insurance Star Ratings are a sophisticated rating methodology, unique to CANSTAR, that compare both Cost and Features across

More information

AWARD REPORT. Everyday Banking & Savings Accounts

AWARD REPORT. Everyday Banking & Savings Accounts 2015 AWARD REPORT Everyday Banking & Savings Accounts Foreword Everyday Banking & Savings Accounts September 2015 They are financial products that the vast majority of us have, but they are also the financial

More information

STAR RATINGS REPORT. SMSF Lending

STAR RATINGS REPORT. SMSF Lending 2014 STAR RATINGS REPORT SMSF Lending SMSF Lending November 2014 Foreword Self-managed super funds are not going away anytime soon. Indeed they continue to ride the wave of popularity. My baptism of fire

More information

STAR RATINGS REPORT. Personal Loans

STAR RATINGS REPORT. Personal Loans 2014 STAR RATINGS REPORT Personal Loans Personal Loans November 2014 Foreword Most people, at some stage or another, have used a personal loan to fund an asset purchase or to pay off a dream holiday. I

More information

STAR RATINGS REPORT. Business Loans

STAR RATINGS REPORT. Business Loans 2015 STAR RATINGS REPORT Business Loans Business Loans May 2015 Foreword The majority of businesses in Australia are small businesses, mostly sole traders right through to those employing up to 19 staff.

More information

START EM YOUNG A + B = COMMONWEALTH BANK. Financial literacy for kids and young teens is as essential as the Three Rs.

START EM YOUNG A + B = COMMONWEALTH BANK. Financial literacy for kids and young teens is as essential as the Three Rs. Report No. 2 July 2012 Financial literacy for kids and young teens is as essential as the Three Rs. So what do our banks offer this specialised group of potential future customers? START EM YOUNG F inancial

More information

STAR RATINGS REPORT. SMSF Savings Accounts

STAR RATINGS REPORT. SMSF Savings Accounts 2014 STAR RATINGS REPORT SMSF Savings Accounts September 2014 SMSF SAVINGS ACCOUNTS IN THIS REPORT We research and rate 153 products from 70 institutions to determine which ones offer outstanding value

More information

So what are these various insurances and when might you need them? A brief summary of the main types of cover is as follows.

So what are these various insurances and when might you need them? A brief summary of the main types of cover is as follows. Report No. 6 September 2013 IN THIS REPORT: We research & rate the suite of life insurance products to determine who offers the best value from the 13 companies specializing in this market. IT CAN HAPPEN

More information

STAR RATINGS REPORT. Direct Life Insurance

STAR RATINGS REPORT. Direct Life Insurance 2014 STAR RATINGS REPORT Direct August 2014 DIRECT LIFE INSURANCE IN THIS REPORT We research and rate 32 direct life insurance policies from 27 insurers in Australia. Aussies still love to be direct For

More information

ESTABLISHED SINGLE PARENT: This profile covers mostly middle-aged to mature singles with

ESTABLISHED SINGLE PARENT: This profile covers mostly middle-aged to mature singles with METHODOLOGY AWARDS TO PRODUCTS The Health insurance star ratings combines 3 separate health insurance product types (Hospital cover, Extras cover and Packaged Hospital and Extras cover). The rating process

More information

We ll help make buying your first home easier

We ll help make buying your first home easier First Home Buyers We ll help make buying your first home easier First Home Buyer Award recognised in 2008 by CANNEX. 02 Buying your first home doesn t have to be complicated. We ll take the hassle out

More information

WHICH IS FOR ME? HOME LOANS MADE EASY

WHICH IS FOR ME? HOME LOANS MADE EASY WHICH IS FOR ME? HOME LOANS MADE EASY About this booklet At ING DIRECT, we try to make finding the right home loan as easy as possible. That s what this booklet is all about. All our home loans are described

More information

AWARD REPORT. First Home Buyer Award

AWARD REPORT. First Home Buyer Award 2015 AWARD REPORT First Home Buyer Award First Home Buyer Awards June 2015 Foreword Auckland continues to be front-page news with its real estate values skyrocketing beyond the reach of many buying their

More information

Loans for just about everything

Loans for just about everything Bankwest s Loans for just about everything I could use a holiday. Happy Banking What do you need money for? Are you thinking about a new car or starting home renovations? Perhaps a holiday on a tropical

More information

u n i t f i v e Credit: Buy Now, Pay Later To use credit wisely you need to know oming soon to a what s really

u n i t f i v e Credit: Buy Now, Pay Later To use credit wisely you need to know oming soon to a what s really Unit Five Credit: Buy Now, Pay Later To use credit wisely you C need to know oming soon to a what s really mailbox near you credit card offers! involved. If you haven t started receiving them already,

More information

ANZ Margin Lending Integrated with E TRADE

ANZ Margin Lending Integrated with E TRADE ANZ Margin Lending Integrated with E TRADE The ANZ Margin Loan - Integrated with E TRADE What is margin lending? Benefits of gearing The ANZ Margin Loan is an integrated facility that allows you to trade

More information

STAR RATINGS ONLINE SHARE TRADING. Online share trading has seen. Easy just got easier. May 2014

STAR RATINGS ONLINE SHARE TRADING. Online share trading has seen. Easy just got easier. May 2014 May 2014 STAR RATINGS ONLINE SHARE TRADING IN THIS REPORT We rate 38 online share trading platforms provided by 15 institutions, across three profiles: Casual Investor, Active Investor and Trader. Easy

More information

METHODOLOGY AWARDS OVERALL AWARDS INSTITUTION AWARDS. CANSTAR star ratings AWARDS TO PRODUCTS METHODOLOGY. Occupation Category. Mature Empty Nester

METHODOLOGY AWARDS OVERALL AWARDS INSTITUTION AWARDS. CANSTAR star ratings AWARDS TO PRODUCTS METHODOLOGY. Occupation Category. Mature Empty Nester METHODOLOGY AWARDS Institution-based awards are determined by product performance across the 64 star-rated profiles. OVERALL AWARDS Value Life Insurer Australia INSTITUTION AWARDS Term Life Trauma TPD

More information

TEACHING THEM THE FINANCIAL FACTS OF LIFE. Report No. 1 April 2013

TEACHING THEM THE FINANCIAL FACTS OF LIFE. Report No. 1 April 2013 Report No. 1 April 2013 Financial literacy for kids and young teens is essential for their future prosperity. So what do our banks offer this specialised group of potential future customers? TEACHING THEM

More information

Home and Investment Loans. Be ready to make your move.

Home and Investment Loans. Be ready to make your move. Home and Investment Loans Be ready to make your move. We ve got what you need to make things happen. Whether you re thinking of buying your first home, your next home, an investment property, switching

More information

HOME LOANS AND LINES OF CREDIT

HOME LOANS AND LINES OF CREDIT HOME LOANS AND LINES OF CREDIT GENUINE LOANS FOR REAL PEOPLE Product Information Brochure Effective from 1 November 2014 At Queensland Country we offer genuine home loans for real people. We understand

More information

Make yourself at home with the UHomeLoan

Make yourself at home with the UHomeLoan Make yourself at home with the UHomeLoan You ve probably got a few questions about UBank and the UHomeLoan. You should find all of the answers right here. And if you have something specific in mind, just

More information

STAR RATINGS REPORT. Business Deposits

STAR RATINGS REPORT. Business Deposits 2014 STAR RATINGS REPORT Business Deposits July 2014 BUSINESS DEPOSITS IN THIS REPORT We research 94 business deposit accounts across 44 financial institutions. Business conditions cautiously positive

More information

STAR RATINGS REPORT. Business Rewards

STAR RATINGS REPORT. Business Rewards 2015 STAR RATINGS REPORT Business Rewards BUSINESS Rewards February 2015 Foreword Everyone likes to be rewarded, and that includes business owners. The credit card rewards market is popular and continues

More information

RCU has you covered when it comes to insurance

RCU has you covered when it comes to insurance RCU has you covered when it comes to insurance Coming into the warmer months means that unpredictable weather is just around the corner. This also means that it s the perfect time of year to make sure

More information

1 Identify your goal. What is it that you want to buy. 2 Gather information. What are the terms of the credit

1 Identify your goal. What is it that you want to buy. 2 Gather information. What are the terms of the credit Be a Savvy Credit User About 40% of credit card holders carry individual balances of less than $1,000, while about 15% individually carry total card balances of more than $10,000. Forty-eight percent of

More information

Westpac Credit Cards. Credit cards

Westpac Credit Cards. Credit cards Westpac Credit Cards Credit cards As at 15 November 2013 You can buy the things you need now and pay off your card in a flexible way later. Contents 4 What do you get with a Westpac credit card? 6 Which

More information

ANZ E*TRADE Share Investment Loan

ANZ E*TRADE Share Investment Loan ANZ E*TRADE Share Investment Loan Benefits at a glance Combine your money with a bank loan to increase your portfolio. Interest incurred on your loan may be tax-deductible. An optional diversified feature

More information

Transactions & Savings Because managing your money should be easy.

Transactions & Savings Because managing your money should be easy. Transactions & Savings Because managing your money should be easy. Your guide to how People s Choice Credit Union can help you with your everyday banking needs and achieve your saving and investment goals.

More information

STAR RATINGS REPORT. Pet insurance

STAR RATINGS REPORT. Pet insurance 2014 STAR RATINGS REPORT Pet insurance August 2014 PET INSURANCE IN THIS REPORT We research and rate 83 insurance products from 18 providers to ascertain which policies offer outstanding value for pet

More information

Home loan check up. Reviewing the health of your home loan

Home loan check up. Reviewing the health of your home loan Home loan check up Reviewing the health of your home loan 2 3 Contents Debt consolidation & refinancing 3 Considering refinancing? 4 Benefits of refinancing 6 Know the costs of refinancing 12 It s natural

More information

CANSTAR S GUIDE TO. Choosing health insurance

CANSTAR S GUIDE TO. Choosing health insurance CANSTAR S GUIDE TO Choosing health insurance AUSTRALIA HAS A TERRIFIC UNIVERSAL HEALTH CARE SYSTEM, CALLED MEDICARE. THIS SYSTEM ENSURES THAT ALL AUSTRALIANS HAVE ACCESS TO FREE HOSPITAL TREATMENT IN THE

More information

Westpac. Home Loans. Enjoy a place of your own with your. Westpac. Home Loan

Westpac. Home Loans. Enjoy a place of your own with your. Westpac. Home Loan Westpac Home Loans Enjoy a place of your own with your Westpac Home Loan We know you d rather talk about your new home than a new home loan. After all, buying a home is an exciting journey. But we d like

More information

Westpac. Home Loans. Enjoy a place of your own with your. Westpac. Home Loan

Westpac. Home Loans. Enjoy a place of your own with your. Westpac. Home Loan Westpac Home Loans Enjoy a place of your own with your Westpac Home Loan We know you d rather talk about your new home than a new home loan. After all, buying a home is an exciting journey. But we d like

More information

Westpac. Loans. Personal. Loans

Westpac. Loans. Personal. Loans Westpac Loans Personal Loans As at 7 September 2014 Need money for a wedding, home improvements, to go on a holiday or even a new car to get there? Or do you simply want to consolidate your bills to have

More information

Personal Loans. Everything you need to get you moving.

Personal Loans. Everything you need to get you moving. Personal Loans Everything you need to get you moving. Start with Suncorp Bank If you ve found something you love, and you just can t wait to make it yours, a Suncorp Bank Personal Loan can help. Whether

More information

BORROWING. A guide to borrowing. Overdrafts, credit cards, loans

BORROWING. A guide to borrowing. Overdrafts, credit cards, loans BORROWING A guide to borrowing Overdrafts, credit cards, loans Three ways to borrow that can work for you All of us need a little extra help at times. So if you want to borrow money for a new car or kitchen

More information

Credit cards explained

Credit cards explained Credit cards explained What is a credit card? As its name suggests, a credit card lets you buy things on credit meaning that you don t need to have the money upfront to pay for your purchases. If large,

More information

Credit Crunching. a student guide to credit 2010/11

Credit Crunching. a student guide to credit 2010/11 Credit Crunching a student guide to credit 2010/11 Introduction Whether you are a student or a graduate it is important to understand all the different types of credit out there in the market place. Credit

More information

Debt Management. www.maddernfinancial.com.au

Debt Management. www.maddernfinancial.com.au Debt Management Maddern Financial Advisers Pty Ltd Suite 238, 29 Milton Parade, Malvern Vic 3144 Tel: +61 3 9999 7200 Fax: +61 3 9822 7580 www.maddernfinancial.com.au MADDERN FINANCIAL ADVISERS DEBT MANAGEMENT

More information

HOME LOAN HOUSE. Are you a homeowner looking for a loan? If so, and you live in the UK, Home Loan House can help.

HOME LOAN HOUSE. Are you a homeowner looking for a loan? If so, and you live in the UK, Home Loan House can help. 1 Home loans + uk, house loan HOME LOAN HOUSE Are you a homeowner looking for a loan? If so, and you live in the UK, Home Loan House can help. We specialise in providing home loans for the things you desire

More information

HOME LOAN OPTIMISER. Call 6234 6400. Email info@lendme.net.au. Visit www.lendme.net.au HOW TO GET THE BEST OUT OF YOUR HOME LOAN

HOME LOAN OPTIMISER. Call 6234 6400. Email info@lendme.net.au. Visit www.lendme.net.au HOW TO GET THE BEST OUT OF YOUR HOME LOAN HOME LOAN OPTIMISER HOW TO GET THE BEST OUT OF YOUR HOME LOAN Visit www.lendme.net.au 2 3 CONTENTS Choose the right loan 3 Seek a mortgage broker to stay informed with competitive products 8 Maximize the

More information

Manage Your Cash, Manage Your Life

Manage Your Cash, Manage Your Life Manage Your Cash, Manage Your Life 1 Manage Your Cash, Manage Your Life A simple guide to effective cash flow management Contents The importance of Cash Flow Management 3 Get on top of your cash flow 4

More information

IN THIS REPORT we research & rate:

IN THIS REPORT we research & rate: Report No. 5 September 2013 IN THIS REPORT we research & rate: 49 travel insurance brands 103 comprehensive travel insurance policies 63 domestic travel insurance WHY TAKE THE GAMBLE? We re an adventurous

More information

Personal Loans made easy

Personal Loans made easy Who is Loanstoday? Loanstoday is an online personal loan portal that makes it easy for mortgage and finance brokers to submit personal loans with simple and easy to use software. By using the Loanstoday

More information

Westpac Savings & Investments. Savings and Term Investment Accounts

Westpac Savings & Investments. Savings and Term Investment Accounts Westpac Savings & Investments Savings and Term Investment Accounts Everyone is a little bit different in the way they save. The good news is we ve got lots of different savings accounts available, so you

More information

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives?

Is equity release the right choice for you? Protecting yourself If it isn t right for you, what are the alternatives? Buyer s Guide : Content Page 1: What is equity release? Page 2: Is equity release the right choice for you? Page 3: Protecting yourself If it isn t right for you, what are the alternatives? Page 4: Lifetime

More information

anz@work Employee banking benefits to suit your life

anz@work Employee banking benefits to suit your life anz@work Employee banking benefits to suit your life Make the most of your employer s relationship At ANZ we value our key business relationships, like the one we share with your employer. Through this

More information

Australian Fixed Income Managed Investments

Australian Fixed Income Managed Investments Australian Fixed Income Managed Investments We endeavour to include the majority of product providers in the market and to compare the product features most relevant to consumers in our ratings. This is

More information

Shop, switch and save

Shop, switch and save Shop, switch and save A no-nonsense guide to switching your home loan, bank account, savings account or credit card. Virgin Money (Australia) Pty Limited ABN 75 103 478 897 AR is an Authorised Representative

More information

Your Guide to Adelaide Bank

Your Guide to Adelaide Bank Your Guide to Adelaide Bank Why Adelaide Bank? Because we understand that your customer s home loan is more than just another mortgage. It s your hard work, your time, and your reputation. But it s also

More information

AND PERSONAL FINANCE. Credit cards Personal loans Overdrafts

AND PERSONAL FINANCE. Credit cards Personal loans Overdrafts CREDIT CARDS AND PERSONAL FINANCE. Credit cards Personal loans Overdrafts We all have different plans in life. Your personal finances, your way. At Bank of Melbourne, our commitment to you starts with

More information

Home and Investment Loans. Be ready to make your move.

Home and Investment Loans. Be ready to make your move. Home and Investment Loans Be ready to make your move. We ve got what you need to make things happen. Whether you re thinking of buying your first home, your next home, an investment property, switching

More information

Introduction 4. What is Refinancing? 5. Changing Home Loans 5 Changing Needs 6 Identifying Better Opportunities 6 Additional Home Loan Features 6

Introduction 4. What is Refinancing? 5. Changing Home Loans 5 Changing Needs 6 Identifying Better Opportunities 6 Additional Home Loan Features 6 Contents Introduction 4 What is Refinancing? 5 Changing Home Loans 5 Changing Needs 6 Identifying Better Opportunities 6 Additional Home Loan Features 6 What are the Advantages of Refinancing? 7 1. Consolidating

More information

STAR RATINGS & AWARD REPORT. Direct Life Insurance

STAR RATINGS & AWARD REPORT. Direct Life Insurance 2015 STAR RATINGS & AWARD REPORT Direct Life Insurance Direct Life Insurance June 2015 Foreword Direct life insurance is targeted at a certain market those who want to get things done when they are good

More information

Money Borrowing money

Money Borrowing money Money Borrowing money Aims: To enable young people to explore ways of borrowing money and the advantages and possible consequences of doing so. Learning Outcomes: By the end of the session the participants

More information

STAR RATINGS REPORT. Credit Cards

STAR RATINGS REPORT. Credit Cards 2014 STAR RATINGS REPORT Credit Cards CREDIT CARDS October 2014 Foreword The world of credit cards is something that continues to evolve and to a degree there is an element of one-upmanship, whether that

More information

L&C Guide to First Time Buyer Mortgages

L&C Guide to First Time Buyer Mortgages L&C Guide to First Time Buyer Mortgages 0800 373 300 www.lcplc.co.uk Foreword By David Hollingworth Head of Communications It's not easy being a First Time Buyer all you want is advice on the right mortgage,

More information

Home Loans. Personal Loans

Home Loans. Personal Loans Home Loans Personal Loans Contents A Personal Loan to suit you 2 Personal Loan 3 Loans for new and used cars 4 Overdrafts 5 Green Loans 5 How to apply 6 Other ways we can help 7 Important information 9

More information

castles Proudly Supported by Westpac Premier Advantage Package

castles Proudly Supported by Westpac Premier Advantage Package castles Proudly Supported by Westpac Premier Advantage Package Thank you for considering Westpac. We aim to delight our customers and earn all of their business. That s why we created the Premier Advantage

More information

Investing in unlisted property schemes?

Investing in unlisted property schemes? Investing in unlisted property schemes? Independent guide for investors about unlisted property schemes This guide is for you, whether you re an experienced investor or just starting out. Key tips from

More information

Home Loans Star Ratings

Home Loans Star Ratings Residential Floating Redraw 100% Offset Available Max LVR (%) Split Construction Loan "Outstanding Value" BNZ TotalMoney 5.79% 400 Nil 95% Kiwibank NZ Offset 5.65% 250 Nil 95% ANZ Bank NZ Floating Rate

More information