Aussies get financial advice from social media, $1.1 billion in unclaimed money & IPCC report findings: This week’s best banking news

By Rhianna Dews · · 3 min read
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Aussies get financial advice from social media, $1.1 billion in unclaimed money & IPCC report findings: This week’s best banking news
  • 86 400 takes the heat off taking out a mortgage
  • Digital lender Nano hits $100 million home loan milestone
  • Aussies turn to social media for financial advice
  • The federal government reports $1.1 billion of unclaimed money in Australia
  • Optus vs. Telstra NBN plans
  • IPCC report shows Australian energy lags on emissions

All in this week’s best banking news recap: editor’s pick.

86 400 takes the heat off taking out a mortgage

Aussie digital bank 86 400 has just launched its new 85% LVR tier on its home loans. On top of this, the neobank has also ditched Lender’s Mortgage Insurance (LMI) payments for customers who have a 15% deposit or equity.

This is especially great for people looking to borrow with a smaller deposit up their sleeves. The lender has also dropped a number of their other variable and fixed home loan interest rates.

Read full article: 86 400 makes buying or refinancing a property easier for Aussies for the full story.

Digital lender Nano hits $100 million home loan milestone

Speaking of online lenders, just one month after it entered the market, digital home loan lender Nano has just reached $100 million of unconditionally approved loans.

Since its initial launch, Nano has been on a mission to kick outdated lending processes to the curb and give lending as a whole a new look.

With the lender recently revealing that a whopping 80% of its applicants come from ‘traditional’ banks - it’s safe to say Nano’s well on its way to achieving this goal.

Read the full article: Digital disruption paves the way for Nano’s $100m home loan milestone to get the full scoop.

Aussies turn to social media for financial advice

Aussies turn to social media for financial advice

A new UBank study has revealed that Aussies spend nearly $500 each month on discretionary purchases via social media and apps. This equates to an average spend of roughly $6,000 per year.

And if you’d assumed Gen Z’ers were the biggest social media shoppers, guess again.

Interestingly, the study found that the biggest culprits were millennials (aged 25-40), followed by Gen X (aged 40 to early 50s), Gen Z (under 25s), and finally baby boomers (over 50s).

Read the full article: Australians are turning to social media for financial advice and discretionary spending to find out all the nitty-gritty details.

Federal government reports $1.1 billion of unclaimed money in Australia

There’s no better feeling than finding a fiver or a tenner stuffed in the pocket of a jacket you haven’t worn in a while. Now, what if you turned that tenner into $1.1 billion?

According to the federal government, there’s about $1.1 billion in unclaimed shares, investments, bank accounts and life insurance in Australia right now. 

Think there’s some unclaimed money out there that belongs to you? Then check out the article below to find out how you might be able to get it back.

Read the full article: Where is my unclaimed money and how do I retrieve it?

Optus vs. Telstra NBN plans

Optus vs. Telstra NBN plans

The Aussie broadband market can be hard to navigate with so many different options available.

And whether you’re keen on getting an NBN plan with one of the bigger players or a smaller provider - you might find yourself wondering … 

Optus vs. Telstra NBN - which is better?

Read the full article: Optus vs. Telstra NBN plans to compare the two and come to a conclusion yourself.

IPCC report shows Australian energy lags on emissions

If you hadn’t already heard, the Intergovernmental Panel on Climate Change (IPCC) released a report this week that revealed some alarming news regarding global warming, with findings showing a 1.4°C rise in average temperatures in Australia.

The report, which was created by some of the world’s leading climate scientists, found that Australia’s domestic emissions continue to stay high despite an increased uptake in renewable energy sources.

Read the full article: Climate report shows Australian energy lags on emissions and is hurting the planet for a full breakdown.

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