Ratehacker: May's Best Credit Card, Bank And Home Loan Deals

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.

Money picture from Shutterstock

After two long weekends in a row if you've done some damage on your credit card, it's time to consider your options. The banks have really competitive balance transfer offers right now with some 0 per cent balance transfer deals for up to 15 months and if used correctly (don't spend on your card, pay your card on time and in full each month and before the balance transfer period ends) they could help you reduce your interest charges.

Credit Cards

Feature: 0 per cent balance transfer

NAB Low Rate Credit Card: 0 per cent per annum for 15 months on balance transfers. NAB has one of the most competitive offers we've seen with its 0 per cent balance transfer that reverts to a variable rate of 13.99 per cent per annum at the end of the balance transfer period.

Feature: Bonus Frequent Flyer Points

Citibank Rewards Signature Credit Card: Receive 80,000 bonus Qantas Points. New card holders who apply by 31 May 2014 will be eligible for the bonus points offer.

Feature: 0 per cent balance transfers and purchases

Citibank Clear Platinum Card: 0 per cent balance transfers and purchases for 6 months. With most cards pulling back on their 0 per cent purchase offers post Christmas, this offer is unique. Currently offering a $49 annual fee for the first year ($99 thereafter). Exclusive deal to CreditCardFinder.com.au.

Home Loans

Feature: Variable rate

Loans.com.au Dream Home Loan - <80 per cent LVR: 4.56 per cent comparison rate. Borrow up to 90 per cent of the property value. Offer available for a new purchase or refinancing.

Feature: Discounted interest rate

Newcastle Permanent Discounted Real Deal Home Loan: 5.12 per cent comparison rate. Receive a discounted interest rate for the first three years. Benefit from no account keeping fees and the option to borrow up to 95 per cent of the property value.

Feature: Fixed rate home loan

ME Bank Home Loan - 3 Year Fixed Rate: 5.21 per cent comparison rate. No application fee. Borrow up to 95 per cent of the property value.

Savings Accounts

Feature: Introductory variable rate

ME Bank Online Savings Account: 4.60 per cent per annum for 5 months. Receive a bonus interest rate of 1.70 per cent per annum above the standard variable rate of 2.90 per cent per annum if you link it to an ME Bank EveryDay Transaction Account by 16 May 2014.

Feature: High Base Interest Rate

RaboDirect Notice Saver 90: 4.05 per cent per annum. If you provide 90 days notice to withdraw your funds you will receive the interest rate of 4.05 per cent per annum for amounts up to $250,000.

Feature: Bonus/Incentive Savings Account

St.George Incentive Saver Account: 4.00 per cent per annum. Earn up to 4.00 per cent per annum when you make at least one deposit and no withdrawals during a calendar month. Also has the benefit of no account service fees.

Transaction Accounts

Feature: No foreign transaction fees

Citibank Plus Transaction Account: Fee free bank account, no foreign transaction fees. Free ATM access at 3000 Citibank, Westpac, St.George, BankSA or Bank of Melbourne ATMs. Also features free international money transfers from your Australian account to any other country. Receive a free bottle of wine at participating Citibank Dining Program restaurants.

Feature: Rewards transaction account

Bankwest Qantas Transaction Account: Receive 10,000 Bonus Qantas Points. Earn 5 Qantas Points on every eligible purchase. In order to receive the bonus points you must open an account by 31 May and deposit at least $2000 per month for the first three months.

Feature: No ATM Fees

Bankwest Zero Transaction Account:No ATM Fees at Bankwest, CBA, Westpac, NAB and ANZ branded ATMs. Benefit from no monthly account fees when you deposit at least $2000 per month. Free ATM Access to over 10,000 ATMs in Australia.

Personal Loans

Feature: Low interest debt consolidation

Society One Low Interest Personal Loan: 9.80 per cent comparison rate. No application fee or on-going fees if you apply before 31 May 2014. Borrow between $5000 and $30,000.

Feature: Line of credit

Westpac Flexi Loan: 10.99 per cent ongoing. Apply for a credit limit between $4000 and $75,000. This interest rate is available via select comparison websites only.

Feature: New car loan

FCCS Rewards Car Loan: 9.26 per cent comparison rate. $50 cashback available for approved applicants. Borrow a minimum of $5000 for up to 7 years with monthly, fortnightly or weekly repayments. No penalty fee for early repayment.

Life Insurance

Feature: Low interest debt consolidation

NobleOak Life Limited: 25 per cent discount on your premiums and first month free. Exclusive offer for Life Insurance Finder customers - receive premium savings of up to 25 per cent and you will get one month cover for free.

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.


    Wow Ubank has really gone downhill, it's savings account is 4.01% used to be 4.26%. I was about to sign up with them till I noticed the difference.

      by comparison, isn't UBank still better than the St. George account recommended above?

    I fail to see how FCCS is better than IMB 7.33%/7.53%comp with no EPF and fixed rate.

    NAB's Ubank still offers more interest on your savings. 4.37% ongoing with a minimum $2,000 monthly deposit (can be bypassed by 'shuffling' money in and out from another account).

    This remains the HIGHEST non-promotional interest rate currently available on at-call savings in Australia.

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