|
Crown will find YOU the Home Loan that will save you the most amount of TIME and MONEY in 4 Very Simple Steps...
...and You will Receive Our eBook:
"How To Get Out Of Debt In Half The Time & Pay LESS per Month!" FREE!
|
Adelaide Bank
Make One More Adelaide Bank Repayment Per Year Without Trying
Adelaide BankYou probably pay your mobile phone bill, car repayment and credit card bill once every month, so it makes sense to make your Adelaide Bank home loan repayment monthly too, right? Think again. By making the switch from monthly to fortnightly repayments, you could save thousands of dollars and years from your home loan term.
Many Adelaide Bank customers, and home owners who have home loans through other lenders, opt for the convenience of making monthly repayments without giving much thought to it, as most people get paid on a monthly basis. So heres something to think about.
Adelaide Bank: Mow Down Your Credit Card Debt
Adelaide BankCredit card debt can be likened to the lawn in your back yard. The longer you leave it before it is mowed, the more wildly it will grow, and the harder it is to get rid of. You can pretend its not there for a while, but one day you see it has grown so much that it is likely to swallow you.
If your credit card debt is getting out of hand, its time to take steps to mow it down. Whether your credit card is with Adelaide Bank or another lender, there are some simple ways you can win back control of your finances.
The first step is to stop using your Adelaide Bank credit card. Many people rely on credit to cover the gap between pay days, but this is a dangerous habit to have. Unless you can afford to make the repayment in full at the end of each month, you should avoid using your credit card for anything except emergencies.
Adelaide Bank: Visa Debit Card Paves Path To Financial Freedom
Adelaide BankIn addition to our love of cold beer, lamingtons and public holidays, we are a plastic-loving nation. Unfortunately, current figures suggest credit card debt is becoming an increasing problem across the country, as Australians continue to out-spend their income and rely on the help of credit cards.
If you have been burning the plastic lately, it's important to take steps to master your spending before your debt gets out of control. Banks and lenders make a lot of money from credit card interest charges and fees, but they are also finally seeing a need to provide customers with an alternative way to spend hard-earned cash.
Adelaide Bank: The Temptation of Discounted Rate
Adelaide BankRemember the Sirens of Greek mythology? They sang so beautifully that passing sailors couldn't resist getting closer to them. The sailors would follow the sound of the music by steering their boats towards the Sirens or by jumping in the water to get closer and let's just say it didn't end well.
When looking for a home loan, don't be caught up in what sounds likes a good deal without looking for the hidden dangers, especially when it comes to discounted introductory rates.
An introductory rate home loan, such as the Adelaide Bank Discounted Rate loan aims to lure new homebuyers into the mortgage market with an attractive discount on the interest rate (either fixed or variable) for the first few months or even year of the loan term.
Also known as a honeymoon rate, after the introductory period the interest rate on your loan will revert to Adelaide Bank's standard variable rate, or you can choose to fix your rate for one to five years.
An easier start with lower monthly repayments is obviously helpful, but be sure to consider the consequences for the remainder of the term of your loan. With a Discounted Rate loan, the interest rate you pay after the introductory period may be higher than some of the lower standard loans on the market, which means you could end up paying more overall. This works to Adelaide Bank's advantage, but you should beware of jumping into too deep for a discounted rate, as it means you could get stuck paying more than you would like to in the long term.
A Discounted Rate loan such as the options offered by Adelaide Bank could suit new home buyers who may need to pay for landscaping, furniture and bits and pieces for their new home, and so would like to avoid making large monthly repayment in the first year. However, remember that introductory loans such as these can lack the features and flexibility of other loan types.
For example, a redraw facility is available, but a minimum amount of $500 applies for each withdrawal. The application fee is $350, with an $8 ongoing service fee. The minimum loan term for both the fixed and variable discounted rate loans is five years, and an exit fee of $275 applies whenever the loan is fully repaid.
The moral of the story? Do your homework and find out the features that you need from your home loan before getting caught up by the Siren song of introductory rates.
