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Financialguide. When the Reserve Bank of Australia increased cash rates by 0.25% on Melbourne Cup Day 2 November the Commonwealth Bank immediately...

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Financialguide.com.au news digest

  • 10 years

    Is the Government stealing Your Superannuation?

    On the 5th of April 2013, the government announced that it would now take superannuation accounts with balances up to $2,500, if they were deemed “lost” from 31 May 2013.
    If and when you get around to claiming these funds, they will reward you by applying an interest rate equivalent to the Consumer Price Index or basically the inflation rate (currently 2.5% pa). Now this is the bare minimum return and is basically a gift...

  • 13 years

    Mortgage Switch Calculator

    The Australian Securities and Investments Commission (ASIC) have released a calculator that helps you compare your current home loan situation with taking out a new home loan.
    Please visit the ASIC Mortgage Switch Calculator for more information.
    One of the main costs associated with mortgages is Lenders Mortgage Insurance. The ASIC calculator does take this into account but you need to find out what it will be. You should discuss this further with your mortgage adviser....

  • 13 years

    SMSF Savings Account Interest Rate Update

    Usually the banks pass on interest rate rises to their various savings accounts within a few days of the RBA rate rise. However, due to the turbulence created by the CBA increasing their home loan rates by 0.45% compared to the 0.25% increase by the...

  • 13 years

    High Interest Savings Account November Update

    When the Reserve Bank of Australia (RBA) increased cash rates by 0.25% on 2 November 2010, the the major banks duly increased their savings accounts by the same amount. However they raised home loans by a substantially different amount. Here are the...

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