Ratehacker: August'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

Even though the new financial year as well and truly started, it's not too late to give your finances a reboot. It's worth considering your options now in the lead up to Christmas to make sure you make the right selection when it comes to choosing a loan for a holiday, buying a new car or other major purchases. There are also plenty of benefits if you spend the time to properly configure your bank accounts to make the most of reduced fees and higher interest rates on your savings.

Credit Cards

Feature: 0 per cent balance transfer

Citibank Rewards Credit Card - Classic Card: 0 per cent per annum for 18 months on balance transfers. Earn 1 Citibank Rewards Point per dollar spent. This card comes with complimentary purchase cover and price guarantee insurances and an $89 annual fee.

Feature: 0 per cent purchases

Westpac Low Rate Credit Card: 0 per cent per annum for 12 months on purchases.

Enjoy 0 per cent for 12 months on purchases, without additional cardholder fees for a secondary card. It combines savings on your purchases with a competitive annual fee of $45.

Feature: No annual fee platinum card

Westpac 55 Day Platinum Card: $0 annual fee (normally $90 per annum).

This card features an exclusive 0 per cent per annum for 12 months purchase rate if you apply via creditcardfinder.com.au. Receive platinum benefits without an annual fee including complimentary overseas travel insurance, extended warranty insurance cover and purchase security insurance cover.

Home Loans

Feature: Variable rate

Loans.com.au Dream Home Loan - <80% LVR: 4.56 per cent comparison rate. This loan offers a 100 per cent offset account and a split rate feature. You also get a lower interest rate for keeping your LVR under 80 per cent.

Feature: Discounted interest rate

RAMS Discount Home Loan: 4.65 per cent for 12 months. For the first year you have this loan you'll get a discounted rate 1.2 per cent lower than the RAMS Standard Variable Rate. You can also take advantage of interest only repayments, two loan splits and a high maximum LVR of 95 per cent.

Feature: Fixed rate home loan

Newcastle Permanent Fixed Rate Home Loan: 4.59 per cent fixed for two years. A flexible fixed rate home loan which allows you to make up to $25,000 in additional repayments during the fixed period and comes with interest only options. You can also benefit from no establishment fees for a limited time, saving you $550.

Savings Accounts

Feature: High rate with linked transaction account

UBank USaver Ultra: 4.17 per cent per annum. Deposit at least $2,000 per month into the Ultra or USaver account from an external source and earn the higher interest rate. You can also make use of the sweep function, which automatically replenishes your Ultra account using your savings if your balance is low, and vice versa. All you have to do is link your Ultra account to a USaver account.

Feature: High rate without linked transaction account

RAMS Saver: 4.11 per cent per annum. The RAMS Saver has an ongoing high interest rate as long as you deposit $200 into the account per month, make no withdrawals and keep your balance under $500,000. There are no fees and the account is covered by the Financial Claims Scheme.

Feature: Bonus/incentive savings account

St.George Incentive Saver Account: 3.90 per cent per annum. Make at least one deposit and no withdrawals each month and you'll earn this competitive rate. There are also no account fees or monthly balance requirements.

Transaction Accounts

Feature: Cashback on Purchases

ME Bank Everyday Transaction Account: Receive up to 5% cashback on contactless payments. Apply before 31 August 2014 and you will get 5 % cashback on all PayPass purchases under $100 for the first six months. The account also gives you free ATM access to Westpac, St.George, BankSA and Bank of Melbourne ATMs and has no monthly account keeping fees.

Feature: Fee free account

Citibank Plus Transaction Account: Fee free bank account, no foreign transaction fees. This account from Citibank doesn't charge foreign transaction fees, and also allows you to transfer money at no charge through the Citibank money transfer service. This account gives you free ATM access in Australia when using Citibank, Westpac, St George, BankSA and Bank of Melbourne ATMs.

Feature: Rewards Transaction Account

Bankwest Qantas Transaction Account: Earn Qantas Points. This account earns you five Qantas Points for each eligible purchase, plus you'll also earn Qantas Points on your account balance throughout the year. You also won't pay monthly fees if you deposit at least $2,000 into the account each month.

Personal Loans

Feature: Low interest debt consolidation

MyState Special Rate - Personal Loan: 9.92 per cent per annum comparison rate. A low interest loan to consider if you are planning to consolidate your debts. Comes with a useful redraw feature and no penalties for paying out your loan early.

Feature: New Car Loan

Heritage Bank Low Rate Secured Loan: 6.35 per cent comparison rate. This loan must be secured against a Heritage Bank term deposit. You can still keep your money invested, and still buy the things you need.

Feature: Unsecured Personal Loan

Society One Unsecured Personal Loan: 9.80 per cent comparison rate. This loan features a low rate from Society One - Australia's first Peer2Peer lender. There is a $0 application fee if you apply for the current offer.

Life Insurance

Feature: Discounted Premium

NobleOak Life Limited: 25 per cent discount on your premiums and first month free. Exclusive offer for Life Insurance Finder customers - receive savings on your premium (up to 25 per cent) and you will get one month of cover at no charge.

Jeremy Cabral is the 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.


Comments

    Banks will sometimes give you a better rate on your home loan if you ask. Rejecting their offer and asking for a better one sometimes works too!

Join the discussion!