Savings Accounts

Is the brand new $100 observe, out October, the final replace to a banknote we’ll see?

The nation’s central financial institution has been busy designing and printing a brand new $100 invoice in anticipation of getting them into public wallets, bringing to a detailed a banknote redesign program a long time within the making.  However the rollout of a redesigned hundred greenback invoice — the final within the sequence of subsequent era notes — comes because…

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Federal Price range 2020: Making sense of the federal government’s tax revisions, offsets and cuts

Two huge rule adjustments will see thousands and thousands of Australians save $12.5 billion in taxes inside the subsequent yr, underneath federal price range bulletins designed to get folks spending and the nation out of a recession. The financial savings are being handed on despite the fact that the price range will blow out the deficit as measures are launched…

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The very best financial savings accounts for October 2020

With discuss amongst economist and consultants alike that the Reserve Financial institution of Australia could minimize the money fee near zero per cent subsequent Tuesday, it’s a difficult time to be a saver in Australia.  The truth is, financial savings accounts have just about plummeted off a cliff, leaving only a few accounts nonetheless providing rates of interest above 1…

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Australians placing monetary and life targets on maintain resulting from COVID-19

Australians are being compelled to push again their monetary targets and main life occasions, as COVID-19 impinges on client confidence and cash habits, new analysis confirmed. Nearly 1 / 4 of potential house patrons had no selection however to place their property buy plans on ice as a result of coronavirus-induced recession, an AMP-commissioned survey of greater than 1,000 adults…

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Afterpay to offer Westpac-powered financial savings accounts

Afterpay’s hundreds of thousands of consumers will likely be in a position to enroll in Westpac-powered financial savings and transactions accounts below a partnership between the 2 conventional rivals. The settlement will enable Afterpay, thought-about the biggest purchase now, pay later supplier with a market worth of $27.7 billion, the flexibility to supply new merchandise by utilizing Westpac’s deposit taking…

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Adjustments to JobSeeker and JobKeeper take impact

The primary lower within the authorities social safety cost retaining greater than 1,000,000 individuals financially afloat in the course of the COVID-19 pandemic drops by $300 as we speak, whereas the opposite retaining thousands and thousands extra in work tapers too. The welfare subsidies had been launched after 932,000 individuals misplaced their job within the March to June quarters, in…

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ANZ reduces financial savings and time period deposit rates of interest

ANZ has shaved charges on a few of its financial savings and time period deposit accounts, as savers proceed to really feel the pinch from low rates of interest. Time period deposit holders are more likely to be hit more durable, with larger rate of interest cuts made to the large 4 financial institution’s time period deposit accounts than its…

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What it’s essential to know concerning the new JobKeeper and JobSeeker

Main financial lifelines from the federal government, together with JobKeeper and the coronavirus-boosted JobSeeker, might be prolonged and revamped past September. The JobKeeper wage subsidy might be prolonged for an additional six months till March 28, whereas these on the COVID-19 complement profit could proceed to obtain it till the tip of the 12 months. JobKeeper and the elevated JobSeeker…

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Faculty banking failing our children: ASIC report

Client advocate, RateCity.com.au, believes state and territory governments ought to kick banks out of our main faculties, on the again of at this time’s damming faculty banking report from ASIC. Late final month, the Victorian authorities dumped the Dollarmites scheme in favour of curriculum-linked monetary classes. Bendigo Financial institution, IMB, Northern Inland and Southwest Credit score have or are within…

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Households getting ready to 'financial savings cliff', ME Financial institution warns

Authorities funds have cushioned the monetary blow wrought by the coronavirus, however survey findings point out about one in 5 of households face shedding their footing as stimulus funds recede. Out of 1500 surveyed households, 315 had about $300 in financial savings — notably lower than the present JobSeeker fortnightly fee. That is among the many headlining findings of ME…

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