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

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

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

Transcription

1 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 many consumers and governments around the world, New Zealanders have had a love affair with debt for quite some time. The Reserve Bank of New Zealand (RBNZ) advises that in the twenty years to 2011, total housing and consumer loan debt increased around six-fold in dollar terms, or approximately two and a half times as a ratio of debt to household disposable income. Indeed, our collective debt levels are causing some concern for regulators in the face of a consistently strong $NZD and a persistently low rate of inflation. Our rising debt on the housing front was one of the factors contributing to the recent RBNZ decision limit the number of new mortgages with a Loan to Value Ratio (LVR) of over 80%. Nevertheless the level of consumer loans has been falling over recent quarters, with the current consumer loan amount of $94 million reported by the RBNZ being lower than at any point since September Post- GFC, Kiwis seem to be displaying a newfound caution in relation to discretionary spending. Despite this caution, personal loans endure and for some consumers personal loans do offer distinct benefits. These benefits include: The ability to borrow as little or as much (subject to your personal borrowing capacity) as required. A structured repayment timeframe, which could range from six months to ten years. A structured timeframe means that your debt will at some point be extinguished. Certainty of both regular repayment amount and rate of interest. Flexibility (in most instances) to extinguish your debt ahead of time. Average personal loan interest rates can offer a more cost-effective alternative to credit card interest rates, with a current average unsecured personal loan variable rate of 16%, compared to the current average credit card interest rate of 18.69%. Despite this narrow cost advantage, personal loans are still an expensive form of credit, with a margin of more than 13% between the official cash rate and the average unsecured personal loan variable rate. Date Unsecured loan Official cash rate Margin % rate 1 Nov % 2.50% 13.31% 1 Nov % 2.50% 13.30% 1 Nov % 2.50% 13.50% Source: CANSTAR personal loan star ratings, November 2013 YOUR GUIDE TO PRODUCT EXCELLENCE

2 It should also be noted that there has been a recent increase in the number of low rate credit cards offered in the New Zealand marketplace, with Bank of New Zealand s Low Rate Mastercard and American Express Low Rate card being the newest players on the block. The table below summarises the low rate cards that CANSTAR note are on offer: Company Product Interest Rate ANZ Bank Low Rate Mastercard 13.90% ASB Bank Low Interest MasterCard 13.60% BankDirect Visa Classic Low Int 13.60% Kiwibank Low Rate MasterCard 12.90% Warehouse Fin SVCS Low Interest MasterCard 12.99% Westpac Low Interest MasterCard 12.95% Bank of New Zealand Lite Visa Card 13.25% Bank of New Zealand Low Rate Mastercard 12.95% American Express Low Rate 12.69% Source: CANSTAR, November 2013 HOW PERSONAL LOANS STACK UP When it comes to personal debt, consumers have a number of borrowing options available. These include: Payday Loan: A pay day loan is a small, short-term unsecured loan. Payday loans are characterized by a high rate of interest charged (which can be a percentage rate of many hundreds per annum) and generally a low dollar value of loan. The usual loan size is less than $2000 and has a loan period of a fortnight or month. Overdraft facility: An overdraft facility is an arrangement between the lender and the customer based on the customer s credit rating and ability to pay back the money. Usually a personal overdraft may be approved for an amount of around $500. This facility allows the customer to overdraw their account at an interest rate which is similar to that charged on a typical personal loan. An overdraft facility can be secured or unsecured. Note though that an unarranged overdraft (whereby a customer unintentionally overdraws their account) may attract a penalty fee. Credit Card: A credit card is a revolving debt facility on which New Zealanders collectively owe approximately $5.6 billion at any point in time. It works on the principal that consumers can rotate their debt on a monthly basis and receive an interest-free period to pay back the debt in full to get the same initial benefit once again. It is an unsecured debt, with an average interest rate that reflects that arrangement, and has become a way of transactional life for many consumers. YOUR GUIDE TO PRODUCT EXCELLENCE 2

3 Personal Loan: A personal loan is a larger credit facility that can be taken for a longer term. Personal loan terms range up to a maximum of 10 years, although five years is the most common loan term. A personal loan can be a secured or unsecured loan. If unsecured, the maximum allowable borrowing limit that CANSTAR observes is $100,000. If secured there is no borrowing limit, with the maximum amount being assessed against the repayment capacity of the borrower. A personal loan can be used to purchase large ticket items or alternatively used as a great consolidation tool. Unlike credit cards there is no way of adding to a personal loan with more impulse purchases. With a personal loan consumers can be sure that at the end of their repayments, they will be able to get over their debt. Home loan line of credit: A line of credit secured against a home is an attractive option for larger projects such as home renovations or even purchasing a car. Be mindful though that it still needs to be treated as a personal loan. If you look to repay it over 30 years instead of 5 years the renovations or car may become very expensive When it comes to borrowing money for personal finance needs, being objective about both your borrowing needs and repayment capacity will put you in a better position to choose the best credit product for you. The table below page summarises the various pros and cons with each method of payment. Features Personal Loan Credit Card Home Loan redraw Loan amount Medium Small Medium to large Loan Duration Medium Indefinite Long Interest rate Medium High Low Pros Cons Disciplined repayment plan Not as flexible as Credit Cards, with a higher average interest rate than home loan redraw Flexibility to use it whenever you need it, subject to borrowing limit Higher average interest rate than personal loan or home redraw. Can be an expensive credit trap for undisciplined spenders Readily available source of pre-saved funds May turn your short term debt into long term if increased repayments are not factored in to your mortgage WHAT SHOULD CONSUMERS LOOK FOR? The interest rate charged on the loan will be the primary consideration for most consumers, but beyond this a number of other features are also potentially important. These include: Repayment flexibility. In addition to the regular repayments, it is useful if a personal loan also allows additional lump-sum or regular repayments. That way, if your finances allow, you have the ability to repay the loan ahead of time. Competitive fees and charges. The fees and charges that are applied can make a significant difference to the overall cost of a loan and you will need to balance the interest rate charged plus the other fees and charges to ensure that you choose a competitive product. Redraw facility. Can you redraw against your personal loan if required? What are the conditions and fees attached? YOUR GUIDE TO PRODUCT EXCELLENCE 3

4 SECURED OR UNSECURED: WHAT S THE DIFFERENCE? As part of this star ratings, CANSTAR research both secured and unsecured personal loans, as well as debt consolidation loans (which are a form of personal loan used specifically for debt consolidation purposes). So how do these loans differ? A secured loan is secured against a particular asset. That means that if a consumer fails to meet their repayment obligations, the lender has the right to take possession of the asset and sell the asset in order to recoup the borrowed funds. Because the loan is secured by an asset, this type of loan is seen by the lender as a lower business risk and as such a secured loan will tend to attract a lower interest rate. Currently on the CANSTAR database, the average variable interest rate on a secured loan is 13.23%. An unsecured loan, as the name suggests, is money that is lent without the lender taking security over an asset. This makes an unsecured loan a higher business risk for lenders and the interest rates charged will generally reflect this. Currently on the CANSTAR database, the average variable interest rate on an unsecured loan is 16% or for a debt consolidation loan, 15.89%. Within the secured and unsecured environment, a personal loan may be for a multitude of purposes. CANSTAR appreciates the clear distinction of personal loan users as two separate groups. One group of borrowers uses personal loans mainly to purchase cars while the other group uses personal loans to finance other interests such as debt consolidation or holidays. CANSTAR s personal loan star ratings methodology reflects the distinction between these groups and loans are assessed by category as follows: Debt Consolidation - $15,000 repaid over 3 years - to be eligible for this category, must be available for debt consolidation for the loan amount of $15,000 over 3 year loan term. The average interest rate on CANSTAR s database for a debt consolidation loan is currently 15.89%. Unsecured Personal Loan - $10,000 repaid over 3 years - to be eligible for this category, loans must be available for either debt consolidation or holidays (but exclude loans that are available exclusively for debt consolidation) and be available for the loan amount and loan term used in that unsecured personal loan scenario. The average interest rate on CANSTAR s database for an unsecured personal loan is currently 16.00%. Secured Personal Loan - $20,000 repaid over 4 years - to be eligible for this category, loans must be available for the purchase of a car and available for the loan amount of $20,000 over 4 years loan term. The average interest rate on CANSTAR s database for a secured personal loan is currently 13.23%. Irrespective of type, 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. Pricing may include costs such as the interest cost, establishment fee, ongoing costs and any one-off fees. There are fifteen different categories of features and they include considerations such as lending terms, channel availability, documentation, turnaround times, redraw facility and repayment capabilities. Points across pricing and features are aggregated to achieve a Pricing score and a Feature score. Personal loans are then ranked and awarded stars based on value-for-money measures. YOUR GUIDE TO PRODUCT EXCELLENCE 4

5 DEBT CONSOLIDATION CALCULATION Credit card or personal loan? When it comes to debt consolidation, working out which loan structure to adopt comes down to your repayment habits and the borrowing period. The first two tables below examine the difference between repaying a loan of $10,000 over 3 years using an average 15.89% debt consolidation personal loan compared to an average 18.69% credit card with a balance transfer period of 6 months at an introductory rate of 0%. By looking at the total interest paid, the consumer would be better off taking out the credit card with its 6 months balance transfer offer of 0% instead of the personal loan if they commit to repaying their credit card in full over the three year period. However, as the second table clearly shows, if the consumer fails to repay the fixed monthly repayments of $335 on the credit card and elects instead to pay only the minimum, the interest cost over three years is $3,205 plus leaving an outstanding debt of $2,071. Personal Loan vs Credit Card: Total repaid in 3 years Personal Loan Interest Rate p.a. Monthly repayment At the end of 3 rd year Total Interest Paid Closing Balance 3 years 15.89% $ $2, Nil Credit Card 3 years 18.69% $ $2, Nil Personal Loan vs Credit Card: Minimum Repayment Personal Loan Interest rate p.a. Monthly Repayments At the end of 3 rd year Total Interest Paid Closing Balance Years repaid in 3 years 15.89% $ $2, Nil 3 yrs Credit Card Minimum Repayments 18.69% 5% or $10 $3, $2, yrs 11 mnths The next two tables replicate the conditions above, but assume that a consumer uses a low rate credit card with an interest rate of 13.20%. In this instance, the total interest paid is less under both scenarios via a credit card, however if minimum-only repayments are made, the customer is still left with a sizeable debt to pay off. Personal Loan vs Credit Card: Total repaid in 3 years Personal Loan Interest Rate p.a. Monthly repayment At the end of 3 rd year Total Interest Closing Paid Balance 3 years 15.89% $ $2, Nil Credit Card 3 years 13.20% $ $1, Nil Personal Loan vs Credit Card: Minimum Repayment Personal Loan Interest rate p.a. Monthly Repayments At the end of 3 rd year Total Interest Paid Closing Balance Years repaid in 3 years 15.89% $ $2, Nil 3 yrs Credit Card Minimum Repayments 13.20% 5% or $10 $2, $2, yrs 11 mnths YOUR GUIDE TO PRODUCT EXCELLENCE 5

6 STAR RATINGS A SHORTLIST When considering whether a personal loan is right for you, consumers should consider both cost considerations as well as their own spending habits and their ability to repay their debts on time. If a personal loan is the right way to go, then the CANSTAR personal loan star ratings will help you easily compare the best five star personal loan for your needs. In compiling this comparison we evaluated a total of 19 personal loan products from 9 institutions. To check the methodology we used in our star ratings, see the document at the end of the results report below. COPYRIGHT CANSTAR New Zealand Limited ( ), The recipient must not reproduce or transmit to third parties the whole or any part of this work, whether attributed to CANSTAR or not, unless with prior written permission from CANSTAR, which if provided, may be provided on conditions. DISCLAIMER To the extent that any CANSTAR data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR New Zealand Limited ( ) FSP and does not take into account your individual investment objectives, financial circumstances or needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as such. CANSTAR recommends that, before you make any financial decision, you seek professional advice from a suitably qualified adviser. A Product Disclosure Statement relating to the product should also be obtained and considered before making any decision about whether to acquire the product. CANSTAR acknowledges that past performance is not a reliable indicator of future performance. YOUR GUIDE TO PRODUCT EXCELLENCE 6

7 Personal Loan Star Ratings Report Date: NOVEMBER 2013 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 Name Product Rate (as at 1 November 2013) Apply online Loan Fees ($) Monthly Application Loan Amount ($) Minimum Maximum Loan Term Unsecured 100% Loan Available All ratings take into account costs and features - see our methodology document for further details Outstanding value Bank of New Zealand NZ Advanced Personal Loan variable Co-operative Bank Personal Loan Unsecured to mth to 5 yrs TSB Bank Personal Loan Unsecured yr to 5 yrs ANZ Bank NZ Fixed Personal Loan to No Max 6 mths to 7 yrs ASB Bank NZ Debt Consolidation No Max 1 yr to 5 yrs NZCU Baywide Unsecured Personal Loan to No Max 1 yr to 10 yrs Westpac NZ Personal Loan Unsecured to No Max variable ASB Bank NZ Personal Loan Unsecured No Max 1 yr to 5 yrs GE Money NZ Debt Consolidation Loan to mths to 7 yrs GE Money NZ Personal Loan Unsecured to mths to 7 yrs Kiwibank NZ Personal Loan mths to 7 yrs your guide to product excellence Report Date: November, 2013 (All information correct as at 1 November 2013) PERSONAL LOAN STAR RATINGS PAGE 1

8 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. Report Date: NOVEMBER 2013 Unsecured Personal Loans Company Name Loan Fees ($) Loan Amount ($) Product Rate Apply Loan Term Holiday Consolidate Debt (as on 1 November Online 2013) Monthly Application Minimum Maximum Home Renovation All ratings take into account costs and features - see our methodology document for further details Outstanding value Co-operative Bank Personal Loan Unsecured to mth to 5 yrs TSB Bank Personal Loan Unsecured yr to 5 yrs ANZ Bank NZ Fixed Personal Loan to No Max 6 mths to 7 yrs Bank of New Zealand NZ Advanced Personal Loan variable NZCU Baywide Unsecured Personal Loan to No Max 1 yr to 10 yrs Westpac NZ Personal Loan Unsecured to No Max variable ASB Bank NZ Personal Loan Unsecured No Max 1 yr to 5 yrs GE Money NZ Personal Loan Unsecured to mths to 7 yrs Kiwibank NZ Personal Loan mths to 7 yrs your guide to product excellence Report Date: November, 2013 (All information correct as at 1 November 2013) PERSONAL LOAN STAR RATINGS PAGE 1

9 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. Report Date: NOVEMBER 2013 Secured Personal Loans Company Name Product Rate (as on 1 November 2013) Apply Online Loan Fees ($) Monthly Application Loan Amount ($) 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 No Max 1 mth to 5 yrs TSB Bank Personal Loan Secured yr to 5 yrs Co-operative Bank Vehicle Loan to No Max 1 mth to 5 yrs Westpac NZ Personal Loan Secured No Max variable ASB Bank NZ Personal Loan Secured No Max 1 yr to 5 yrs GE Money NZ Car Loan Secured to mths to 7 yrs Kiwibank NZ Vehicle Loan to No Max 6 mths to 7 yrs NZCU Baywide Secured Personal Loan to No Max 1 yr to 10 yrs your guide to product excellence Report Date: November, 2013 (All information correct as at 1 November 2013) PERSONAL LOAN STAR RATINGS PAGE 1

10 METHODOLOGY What are the CANSTAR Personal Loan Star Ratings? CANSTAR personal loan star ratings is a sophisticated rating methodology, unique to CANSTAR that compares the dominant personal and car 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 9 institutions. For our analysis, three profiles were used to reflect three main uses of personal loans: Profile Name Debt Consolidation Description 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 3 years) Unsecured Personal Loan Loans must be available for the loan amount and loan term used in that personal loan scenario ($10,000 over 3 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 that personal loan scenario ($20,000 over 4 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 = PRICING SCORE + FEATURES SCORE YOUR GUIDE TO PRODUCT EXCELLENCE

11 Pricing Score 70% Total Cost Includes interest cost, establishment fee, ongoing costs and any one-off fees (Doc fee & Doc release fee) Feature Score 30% Features Includes over 15 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 the total interest cost of a loan based on the loan amount and loan term typical of each profile (see table below). Total cost in each scenario is calculated based on the 6 month average interest cost, establishment fee, ongoing costs and any one-off fees (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 interest 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 4 years YOUR GUIDE TO PRODUCT EXCELLENCE

12 Feature Score Each loan feature is categorised into 15 different categories in TABLE 2 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 features score. TABLE 2: Feature Category Weightings Feature Category Debt Consolidation Unsecured Personal Loan Secured Personal Loan Examples of data captured Lending Terms 24% 20% 17% Repayment Capabilities 23% 21% 17% Security Requirements - - 3% Channel Availability 7% 6% 6% Document Required 6% 6% 5% Fees & Charges 11% 10% 10% Min/Max conditions, income/repayment ratio, approval conditions, rate Min repayment requirement, avenues, repayment options Unsecured, partial, bill of sale, lien of Term deposit Application through: Branch, Internet, Broker, Phone Bank reference, pay slips, proof of residency, tax return Repayment penalties, missed payment penalty Turnaround times 7% 5% 6% Standard approval turnaround Redraw Facility 16% 15% 15% Availability, conditions, fees Loan Insurance 3% 3% 3% Deposit Requirements - - 5% Loan purpose insurance, loan insurance details 100% loan availability, min/max deposit requirements Statement options 3% 3% 3% Frequency options, online option Loan Purpose - 11% 10% Motorcycle, new/used cars, holidays, renovation YOUR GUIDE TO PRODUCT EXCELLENCE

13 How many products and financial institutions are analysed? In order to calculate the ratings, CANSTAR analysed 19 personal loans from 9 financial institutions in New Zealand. 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-to-date 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 CANSTAR New Zealand Limited ( ), The recipient must not reproduce or transmit to third parties the whole or any part of this work, whether attributed to CANSTAR or not, unless with prior written permission from CANSTAR, which if provided, may be provided on conditions. DISCLAIMER To the extent that any CANSTAR data, ratings or commentary constitutes general advice, this advice has been prepared by CANSTAR New Zealand Limited ( ) FSP and does not take into account your individual investment objectives, financial circumstances or needs. Information provided does not constitute financial, taxation or other professional advice and should not be relied upon as such. CANSTAR recommends that, before you make any financial decision, you seek professional advice from a suitably qualified adviser. A Product Disclosure Statement relating to the product should also be obtained and considered before making any decision about whether to acquire the product. CANSTAR acknowledges that past performance is not a reliable indicator of future performance. YOUR GUIDE TO PRODUCT EXCELLENCE

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

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

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

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

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 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

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

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

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

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

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

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

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

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 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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Financial Literacy. Credit basics

Financial Literacy. Credit basics Literacy Credit basics 2 Contents HANDOUT 6-1 Types of credit Type of credit Lender Uses Conditions Revolving credit Credit Cards (secured and unsecured NOT prepaid) To make purchases, pay bills, make

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

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

Fees we charge for consumer mortgage lending products

Fees we charge for consumer mortgage lending products s we charge for consumer mortgage lending products Effective July 2015 Section 1: Understanding fees and charges When we may charge fees The Commonwealth Bank charges fees for administering your account

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

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

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

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

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

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

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

Fees we charge for consumer mortgage lending products

Fees we charge for consumer mortgage lending products s we charge for consumer mortgage lending products Effective February 2016 Section 1: Understanding fees and charges When we may charge fees The Commonwealth Bank charges fees for administering your account

More information

Lending 101 The Basics

Lending 101 The Basics Lending 101 The Basics Overview Loan categories Credit types Different loan types Interest rate Applying for a loan Credit & credit reports Simple loan tips Test Loan Categories Secured loan - a loan that

More information

WHAT IS BUSINESS CREDIT?

WHAT IS BUSINESS CREDIT? 1 WHAT IS BUSINESS CREDIT? Why Do I Need Credit? Establishing a good credit rating is an important financial priority for every business. Having good business credit means that owners of businesses can

More information

Responsible Lending Borrower Fact Find

Responsible Lending Borrower Fact Find Responsible Lending Borrower Fact Find Broker Details Source of Loan: Broker Company/Business Name: Broker Name: Contact Number: Credit Registration/Licence/Credit Rep Number: Email address: Borrower Details

More information

Fees and Charges Effective 17 April 2016

Fees and Charges Effective 17 April 2016 Effective 17 April 2016 Contents Saving money on your banking...1 Everyday accounts...2 Savings accounts... 3 Term Deposits and Foreign Currency Term Deposits...4 ANZ Freedom Years Package... 4 ANZ Migrant

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

Mates Rates Package. From your friends at Kiwibank.

Mates Rates Package. From your friends at Kiwibank. Mates Rates Package. From your friends at Kiwibank. Join Kiwibank today and while you re a Mates Rates member, you ll get even better value banking. Check out what you ll get: Everyday Accounts Choice

More information

Go Home Loan. Fees and Limits Guide. Effective June 2015. Home loans

Go Home Loan. Fees and Limits Guide. Effective June 2015. Home loans Go Home Loan Fees and Limits Guide Effective June 2015 Home loans Transaction services Go Card Withdrawal limits are subject to the redraw balance available in your Go Floating Rate account and any lower

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

HSBC Home Loans As individual as you are

HSBC Home Loans As individual as you are HSBC Home Loans As individual as you are Why should you choose an HSBC Premier home loan? Looking to purchase a new home or investment property? Buying a new house is exciting and we are here to help you.

More information

Heritage Bank. Accreditation Presentation

Heritage Bank. Accreditation Presentation Heritage Bank Accreditation Presentation Agenda 1. Who is Heritage Bank? 2. We are here to help 3. Residential mortgages 4. Product range 5. Policy guidelines 6. Tips and hints 7. The Heritage difference

More information

AGRIBUSINESS: WHAT S NEEDED?

AGRIBUSINESS: WHAT S NEEDED? May 2014 IN THIS REPORT: The very specialized and sometimes volatile nature of agribusiness operations demands a specialized banking service. CANSTAR assess the agribusiness products and services offered

More information

Save money by avoiding fees

Save money by avoiding fees Effective February 2016 Save money by avoiding fees With New Zealand Home Loans there is no monthly base fee. Use electronic transactions where possible You can save money by using electronic transactions

More information

Recent Developments in Interest Rates on Bank Lending

Recent Developments in Interest Rates on Bank Lending Recent Developments in Interest Rates on Bank Lending Introduction Graph 1 Variable Interest Rates In implementing monetary policy, the Bank uses changes in the overnight interest rate on money market

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

Fees and Charges A close look at our products and services. Everyday accounts. Saving money on your banking CONTENTS ANZ FREEDOM ANZ GO

Fees and Charges A close look at our products and services. Everyday accounts. Saving money on your banking CONTENTS ANZ FREEDOM ANZ GO and Charges A close look at our products and services CONTENTS Saving money on your banking... 1 Everyday accounts... 1 Packages... 2 Savings accounts... 5 Cards... 6 Foreign Currency Account... 9 Foreign

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

Another way to describe the repayment of your debt. Over the term of the loan, your regular repayments are said to amortise the loan.

Another way to describe the repayment of your debt. Over the term of the loan, your regular repayments are said to amortise the loan. A Additional Payment The method of significantly reducing your home loan with extra payments to your mortgage. Even paying fortnightly rather than monthly can have a big impact. Amortisation Another way

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

Understanding Your credit risk

Understanding Your credit risk www.unitedfinance.com Personal Loans 101: Understanding Your credit risk AFSA Education Foundation 919 Eighteenth Street, NW Washington, DC 20006-5517 Phone: 888-400-7577 Email: personalloans101@afsaef.org

More information

Personal Loans 101: Understanding Your credit risk

Personal Loans 101: Understanding Your credit risk Personal Loans 101: Understanding Your credit risk Loans have some risk for both the borrower and the lender. The borrower takes on the responsibilities and terms of paying back the loan. The lender s

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

Financial Management

Financial Management I. Banking landscape today In the past year alone, banks have taken many actions to make up for lost profits, including eliminating free checking, raising fees, and pushing customers to buy more financial

More information

Submission on the CCCFA disclosure regulations. Thank you for the opportunity to comment on the CCCFA disclosure regulations discussion document.

Submission on the CCCFA disclosure regulations. Thank you for the opportunity to comment on the CCCFA disclosure regulations discussion document. 1 December 2014 CCCFA Regulations Competition and Consumer Policy Team Ministry of Business, Innovation and Employment PO Box 3705, Wellington 6140 Submission on the CCCFA disclosure regulations Thank

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

Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money.

Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. TEACHER GUIDE 7.2 BORROWING MONEY PAGE 1 Standard 7: The student will identify the procedures and analyze the responsibilities of borrowing money. It Is In Your Interest Priority Academic Student Skills

More information

METHODOLOGY Working Visa Health Cover Star Ratings

METHODOLOGY Working Visa Health Cover Star Ratings METHODOLOGY Working Visa Health Cover Star Ratings What are the CANSTAR Working Visa Health Cover star ratings? CANSTAR s Working Visa Health Cover star ratings use a sophisticated rating methodology to

More information

Loan financing for service providers

Loan financing for service providers Loan financing for service providers May 2014 Disclaimer The materials presented in this document are for general information only and should not be taken as constituting professional advice. Users should

More information

Accommodation Bond Loans

Accommodation Bond Loans Accommodation Bond Loans Banksia Mortgages Limited ABN 36 087 342 238 Australian Credit Licence Number 227733 www.banksiagroup.com.au Investments & Loans About the Fund Manager Banksia Mortgages Limited

More information

Reverse Mortgage. That s what we re here for. Financial freedom to do the things you ve always wanted. Here for good.

Reverse Mortgage. That s what we re here for. Financial freedom to do the things you ve always wanted. Here for good. Reverse Mortgage Financial freedom to do the things you ve always wanted That s what we re here for. Here for good. Contents 2 The freedom of a Reverse Mortgage 3 Product overview 4 About Reverse Mortgages

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

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for.

Accounts payable Money which you owe to an individual or business for goods or services that have been received but not yet paid for. A Account A record of a business transaction. A contract arrangement, written or unwritten, to purchase and take delivery with payment to be made later as arranged. Accounts payable Money which you owe

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

Welcome home. Step through the front door of your new home sooner, with NAB s range of smart and flexible home loans.

Welcome home. Step through the front door of your new home sooner, with NAB s range of smart and flexible home loans. Welcome home Step through the front door of your new home sooner, with NAB s range of smart and flexible home loans. Smart move With the right advice from your mortgage broker and a smart, flexible home

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

Fees and Charges A close look at our products and services. Everyday accounts. Saving money on your banking CONTENTS ANZ FREEDOM ANZ GO

Fees and Charges A close look at our products and services. Everyday accounts. Saving money on your banking CONTENTS ANZ FREEDOM ANZ GO and Charges A close look at our products and services CONTENTS Saving money on your banking... 1 Everyday accounts... 1 Packages... 3 Savings accounts... 5 Cards... 5 Foreign Currency Account... 8 Foreign

More information

Understanding debt management

Understanding debt management Version 4.2 This document provides some additional information to help you understand the financial planning concepts discussed in the SOA in relation to. Important information This document has been published

More information

Take Charge of Credit Cards

Take Charge of Credit Cards Take Charge of Credit Cards Get Ready to Take Charge of Your Finances Introductory Level What is Credit? Credit- something is received in exchange for a promise to pay back money in the future Borrower

More information

Account and service fees for your Business and Agribusiness.

Account and service fees for your Business and Agribusiness. Account and service fees for your Business and Agribusiness. 1 September 2015 Account fees Account fees Account fees are subject to change at any time. Where applicable, account fees are in addition to

More information

Smart strategies for using debt 2012/13

Smart strategies for using debt 2012/13 Smart strategies for using debt 2012/13 Appreciating the value of debt William Shakespeare wrote, Neither a borrower nor a lender be, but the fact is debt can be a very useful tool when used properly.

More information

personal loans EASY, AFFORDABLE Product Information Brochure a refreshing attitude to banking EFFECTIVE FROM 1 MARCH 2013

personal loans EASY, AFFORDABLE Product Information Brochure a refreshing attitude to banking EFFECTIVE FROM 1 MARCH 2013 EASY, AFFORDABLE personal loans Product Information Brochure EFFECTIVE FROM 1 MARCH 2013 a refreshing attitude to banking QUEENSLAND COUNTRY CREDIT UNION PERSONAL LOANS 1 Queensland Country makes getting

More information

Personal Loans 101: Understanding

Personal Loans 101: Understanding Personal Loans 101: Understanding Small Dollar Loans If you are looking for a small loan, you may not be sure where to turn. Most banks and credit unions do not lend small amounts of money. Payday loans

More information

CUSTOMER GUIDE RETRO

CUSTOMER GUIDE RETRO Our classic home loan products with modern features, good old fashioned service and options for a unique tailored approach. CUSTOMER GUIDE RETRO Who is AFG Home Loans? AFG Home Loans has a range of home

More information

DEBT STATISTICS JANUARY 2014 SUMMARY

DEBT STATISTICS JANUARY 2014 SUMMARY DEBT STATISTICS JANUARY 2014 SUMMARY UK PERSONAL DEBT Outstanding personal debt stood at 1.432 trillion at the end of November 2013. This is up from 1.420 trillion at the end of November 2012. Outstanding

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

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

Guide to: Consolidation Loans. Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk

Guide to: Consolidation Loans. Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk Guide to: Consolidation Loans Debt Advisory Services (Scotland) Limited Telephone 08000112322 www.scottishdebthelp.co.uk Contents 1. What is a Consolidation Loan 2. Re-Mortgages 3. Secured Loans 4. Personal

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

New Zealand Home Loans Home Loan Agreement

New Zealand Home Loans Home Loan Agreement New Zealand Home Lending Limited P O Box 2082 Wellington 6140 New Zealand www.nzhomeloans.co.nz/nzhltransact New Zealand Home Loans Home Loan Agreement Disclosure date: Date of loan agreement Borrower(s)

More information

Fees we charge for consumer mortgage lending products

Fees we charge for consumer mortgage lending products Fees we charge for consumer mortgage lending products Effective October 2009 This booklet provides information on the fees we may charge when you purchase any of the following consumer mortgage lending

More information

Lending Fees and Charges for Other Suncorp Bank Home Loans and Packages

Lending Fees and Charges for Other Suncorp Bank Home Loans and Packages Lending Fees and Charges for Other Suncorp Bank Home Loans and Packages Effective Date: 22 November 2014 The following home loans are no longer available for new loans. Fee or Charge Description Professional

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

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

Loan Accounts. Charges for specific services and accounts.

Loan Accounts. Charges for specific services and accounts. Loan Accounts. Charges for specific services and accounts. Effective Date: 15 April 2013 Fees stated are current as at the date of this brochure but may change from time to time. We will notify you of

More information

This material is derived from sources believed to be reliable, but its accuracy and the opinions based thereon are not guaranteed.

This material is derived from sources believed to be reliable, but its accuracy and the opinions based thereon are not guaranteed. Using Debt Wisely INVESTMENT AND INSURANCE PRODUCTS: NOT FDIC INSURED NOT A BANK DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY NO BANK GUARANTEE MAY LOSE VALUE Disclosures The information provided

More information

Home and Investment Loans

Home and Investment Loans Head Office 117 Camberwell Road Hawthorn East VIC 3123 PO Box 338 Camberwell VIC 3124 Branch Office 687 Mt Alexander Road Moonee Ponds VIC 3039 PO Box 210 Moonee Ponds VIC 3039 victeach.com.au 1300 654

More information