In our monthly Ratehacker round-up, Jeremy Cabral from finance comparison site Finder.com.au highlights recent credit card offer changes, plus the best savings accounts and home loans.
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There might be a situation where the $0 or 0 per cent product is not the right one for you or you may not meet the eligibility requirements for application. In this month’s edition of Ratehacker I’ve highlighted a few products which may not be completely zero interest or zero fee, but they’ve got some great market leading features which really make them worth considering as part of your comparison.
Bankwest Zero Mastercard Exclusive: 0 per cent per annum for 9 months on balance transfers. Besides having a cracking balance transfer rate, if you meet the eligibility requirement and get the Platinum level card (in the past you needed a minimum income of $65,000 per annum but now it’s assessed on a per application basis) you can have a complimentary concierge service, no foreign transaction fees and still benefit from a $0 annual fee.
ANZ Low Rate Exclusive Offer: 0 per cent per annum for 9 months on balance transfers. A great offer to consider over the Bankwest Zero Platinum from a revert rate perspective as it reverts to a lower rate of 12.99 per cent– you do however have a $58 annual fee and miss out on the other perks. This card has a minimum income requirement of $15,000, and it’s worth noting that a lower income will likely reduce the credit limit you’re assigned.
American Express Qantas Discovery Card: $0 annual fee with rewards earning. Who said you had to pay a whomping annual fee in order to earn rewards points? Sure, you do miss out on a lot of the other frequent flyer perks which come with higher annual fees (including better earn rates, travel insurance) but with this card you can spend $1 and earn 1 Qantas Point. If you pay your card on time and don’t carry a balance (which you shouldn’t be doing if you have a rewards card) this card will deliver a return.
Loans.com.au – Dream Loan Express Home Loan: 4.89 per cent comparison rate. Designed for refinancing only, this online lender home loan offers a great rate as well as no application fee, legal fee, or annual service fee. You can also make additional payments without any penalty.
NAB Choice Package – 2 Year Fixed Rate Home Loan: 6 per cent comparison rate. If you’re wanting to take advantage of low interest rates while they’re here, this is a competitive offer from one of the big four. You can also benefit from no application fee, legal fee, valuation fee or settlement fee.
State Custodians Peak Performance Offset Home Loan: 5.11 per cent comparison rate. If you’re considering setting up your home loan with an offset facility this home loan is worth considering. Also benefit from no application fee, settlement fee and unlimited additional home loan repayments.
RaboDirect High Interest Savings Account: 4.76 per cent per annum for 4 months. This interest rate is available to new customers only for 4 months for balances up to $250,000. Also benefit from no minimum balance. Also available for DIY Super and Online SMSF.
ING DIRECT Savings Maximiser: 4.75 per cent per annum for 4 months. Benefit from the high interest rate for 4 months on balances up to $250,000 then reverting to the standard variable rate of 3.00 per cent per annum. On-going if you deposit a minimum of $200 per month you can get a ‘Loyalty Bonus’ of 0.50 per cent per annum on balances up to $50,000.
Bankwest Telenet Saver: 4.55 per cent per annum for 6 months. The core benefit of this product is the longer intro rate period of six months, versus the standard four months seen across most high interest savings accounts.
NAB Classic Banking: No monthly account keeping fee. This account is a solid transaction account option from NAB. No monthly account keeping fees, overdrawn fees or any direct ATM charges at NAB ATMs or rediATMs. They don’t charge for using other ATMs but independent operators may. There is no minimum deposit amount to receive these benefits.
ING DIRECT Orange Everyday Account: 5 per cent cash back on contactless purchases.For the first six months you will receive 5 per cent cash back on every contactless purchase you make under $100. You can also benefit from no monthly account keeping fees and no atm withdrawal fees if you withdraw over $200 at any ATM.
Bankwest Zero Transaction Account: No ATM withdrawal fees at any major bank ATM.If you hate ATM fees (who wouldn’t?) this product could be your saviour with no ATM charges at Bankwest, CBA, Westpac, NAB or ANZ-branded ATMs. You can also benefit from no monthly account keeping fees when you deposit $2000 per month. Another really cool thing with this product is now an option to get a Platinum Debit MasterCard. This option will give you a 24/7 Platinum Concierge Service, purchase protection, extended warranty and price guarantee cover. For all these perks you have to deposit a minimum of $4000 per month.
Free merchandise I almost forgot! We had 25 awesome Ratehacker T-Shirts printed up. If you’re keen on one send me an email (Jeremy) with your size and we’ll send one out to you. First in, best dressed!
Jeremy Cabral is the Personal Finance Publisher at Finder.com.au which includes popular comparison sites CreditCardFinder.com.au and SavingsAccountFinder.com.au, helping over 4.8 million Australians compare financial products every year. Connect with Jeremy on Google+, Twitter and LinkedIn.