Depositors cash in
28 July 2008 |
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| Investors are cashing in on high rates of return from simple deposits in the bank, as market turmoil drives other investments down. Banks are desperate for funds to lend and are competing for the retail deposit dollar like never before. Savers are getting up to 9 per cent from their deposits and that compares very favourably to what else is on offer. However, some financial advisers warn against moving out of falling investments to cash, and even suggest buying assets when the market seems low. 'People are saying, 'Why should I take any risks with my money when I can put it in the bank and get a good rate?' ' says Steven Anderson from Infochoice. 'All of a sudden we are seeing very attractive term deposit rates for relatively small sums of cash.' Suncorp banking manager Terry Wasmund said there had been a shift towards cash investment: 'Property is beginning to plateau, the stockmarket is not returning what it was a few years back and the economy is changing. Higher interest rates have ensured that there are a number of competitive savings options available for consumers to profit from, including some of the best term deposit rates we've seen in a long time.' |
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| Source : Courier Mail |
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| 31 July 2008 | - NAB to replace CEO |
| | - NAB denies having more bad debts |
| | - Banks maintain credit ratings |
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| 30 July 2008 | - Troubled Virgin gets lifeline |
| | - Rocky times for whole financial group |
| | - NAB rejects interest rate plan |
| | - Credit Unions and Bendigo Bank are favourites |
| | - Business customers are happy with their banks |
| | - Best advice goes public |
| | - ANZ slow to see the economic signs |
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| 29 July 2008 | - Investment company pays out after collecting from |
| | - ING is a big banker |
| | - City Pacific investors must wait |
| | - ANZ hammered after bad news |
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| 28 July 2008 | - ANZ joins NAB with bad news |
| | - Depositors can get ten per cent |
| | - BankWest pulls Ratetracker from brokers |
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| 25 July 2008 | - Suncorp says no more equipment lending |
| | - CBA goes to China |
| | - CBA and ABN Amro a good fit |
| | - Banks may hold back rate cuts |
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| 24 July 2008 | - Queenslanders join Victoria's big credit union |
| | - Mortgage rates now set by markets |
| | - CBA eyes ABN Amro for CommSec |
| | - Low doc borrowers late with repayments |
| | - ACCC approves Westpac's takeover of St George |
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| 23 July 2008 | - Term deposits more attractive than savings account |
| | - Rams liquidating assets |
| | - NAB not buying |
| | - Australia needs more saving |
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| 22 July 2008 | - Rumours circle BankWest |
| | - No fees and no rate discounts on new NAB loan |
| | - New rules coming for banks |
| | - NAB panders to Wayne Swan |
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| 21 July 2008 | - Bopo card holders wait for funds |
| | - Depositors get nine per cent return |
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| 18 July 2008 | - Short selling OK by ASX |
| | - Bendigo and BOQ fall into line |
| | - Bank loans going bad |
| | - ANZ and NAB face most debt strife |
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| 17 July 2008 | - Next rates move could be down |
| | - CBA not a St George buyer |
| | - Banks may not pass on rate cuts |
| | - Aussies get richer despite share slide |
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| 16 July 2008 | - Westpac in step on rate rise |
| | - Over Fifty Group quit reverse mortgage market |
| | - House prices down in Queensland |
| | - GMAC exit underway, Capital First |
| | - Aussie prods apathetic borrowers |
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| 15 July 2008 | - Global banks target affluent travelers |
| | - NAB, AMP and Suncorp raise rates |
| | - Credit unions offer green loans |
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| 14 July 2008 | - NAB shareholders cool on reinvesting dividends |
| | - Harassed GE borrowers still waiting for compo |
| | - Government is propping up the banks |
| | - Credit Union introduces Visa debit fee |
| | - Commonwealth, ANZ raise rates |
| | - China's biggest bank now in Australia |
| | - Bank of Queensland branch owners walk away |
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| 11 July 2008 | - Government debt agency needed |
| | - Banks circle Wizard |
| | - ANZ pays premium prices for debt |
| | - AMP Bank channels more mortgages |
| | - Bank businesses in trouble |
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| 10 July 2008 | - Credit crisis not over yet |
| | - Court rules against Westpoint investors |
| | - Interest rates may turn down |
| | - BankWest raises rates, others to follow |
| | - Banks grab more mortgage market share |
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| 09 July 2008 | - Debt trouble and bankruptcies go up again |
| | - Banks fight over Bill Express network |
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| 08 July 2008 | - Small broker plus small broker makes big broker |
| | - Elderslie investors lose out |
| | - Challenger wants its' shares back |
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| 07 July 2008 | - Surge in margin calls as All Ords falls |
| | - ANZ's Chimaera troubles get messy |
| | - St George raises mortgage interest rates |
| | - St George customers pay more |
| | - SMS banking can be expensive |
| | - RateTracker wins market share for BankWest |
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| 04 July 2008 | - Swan says no to Aussie Mac |
| | - Small business borrowing down |
| | - Pepper reports loss |
| | - eBay backs down over PayPal |
| | - House price boom predicted |
| | - Advisors charge fees for opening bank accounts |
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| 03 July 2008 | - Super contributions rise for some |
| | - Protected equity lending an endangered species |
| | - Elderslie moreso private equity investor |
| | - CommSec margin lending near record |
| | - 3000 investors stranded by failure of Elderslie |
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| 02 July 2008 | - Rising margins erode satisfaction |
| | - Mortgage margins may rise again |
| | - Frequent Flyer float likely |
| | - Elderslie seeks six month freeze on payments |
| | - Bank of Queensland fiddles with franchise margins |
| | - APRA seeks same-day data on liquidity |
| | - Credit Card Balance Transfer Offers Grow
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| 01 July 2008 | - Private equity eyes off B&B |
| | - Commonwealth leading from Westpac |
| | - ANZ withdraws from stock lenders |
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