New Mastercard BNPL program, Newcastle Permanent supports Aussie Music Industry & car loan pre-approval: This week’s best banking news

New Mastercard BNPL program, Newcastle Permanent supports Aussie Music Industry & car loan pre-approval: This week’s best banking news
  • Homeloans.com.au launches new Green Loan
  • New ‘Mastercard Instalments’ program to shake up BNPL market
  • Regulators to reform home lending as property prices continue to rise
  • Suncorp offers solar cashback for home loan customers
  • Newcastle Permanent supports Australian Music Industry
  • Funding your post-lockdown car purchase with a pre-approved car loan

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

Homeloans.com.au launches new Green Loan

With increased concerns about the planet, we’re seeing more and more lenders come out with green financial products, giving Aussies greater choice when it comes to making more energy-efficient and environmentally conscious purchases.

Next to join the bandwagon is online lender homeloans.com.au, who’ve just launched a new Green Loan. Available to existing customers, this new loan can be used to fund a range of eligible green purchases, like installing solar panels or electrical energy storage.

The new Green Loan must be used as a top-up to an existing home loan with homeloans.com.au.

Read full article: homeloans.com.au launches a new Green Loan to learn more about this new green product.

New ‘Mastercard Instalments’ program set to shake up the BNPL market

Lots has been happening on the Buy Now Pay Later (BNPL) front as of late, folks! The latest news is that credit card king Mastercard has just announced its very own Buy Now Pay Later program.

According to Mastercard, its new ‘Mastercard Instalments’ program is set to shake things up in the BNPL later sphere.

“At the heart of it, payments come down to choice – and people want more from their money with greater flexibility and control in how they pay and where they shop,” said Mastercard’s chief product officer, Craig Vosburg. 

Read the full article: New ‘Mastercard Instalments’ takes on BNPL’s big players to get the full scoop!

Regulators to reform home lending as property prices continue to rise

According to Treasurer Josh Frydenberg, high debt-to-income ratios are the main focal point of the week for home loan reforms.

“While no definitive plans have been laid, regulators are faced with the task of curbing risks associated with high-debt home loans that have risen in a property market with record-low interest rates and surging housing prices,” said Mozo Money Writer Olivia Gee.

Read the full article: Regulators to reform home lending as property prices continue to rise to hear more.

Suncorp offers solar cashback for home loan customers

This just in: Suncorp has just announced a hot new solar cashback offer for home loan customers.

According to Suncorp, both new and existing home loan customers who have a solar power system (or will have one installed before 31 December 2021) could be eligible to receive a cashback bonus.

This means that new eligible home loan customers can score up to $3,000 cashback! Eligible existing customers who have an eligible solar power system installed, on the other hand, can apply for a $500 cash back reward.

Read the full article: Suncorp offers solar cashback for home loan customers to learn more.

Newcastle Permanent supports Australian Music Industry

Newcastle Permanent supports Australian Music Industry

Now here’s a fun story to end your week: Customer-owned bank Newcastle Permanent have teamed up with Charitable Foundation partner, Musicians Making A Difference (MMAD), on an innovative solution to help support the Australian music industry.

Newcastle Permanent have replaced its old customer service hold music with 'For The First Time', a song performed by MMAD Ambassador and 2016 Australia’s Got Talent winner Fletcher Pilon.

Newcastle Permanent have also agreed to cover the associated music licensing fees - meaning that any revenue generated from its use of the song will go straight back into funding MMAD’s charitable programs and services for young Australians.

Read the full article: Newcastle Permanent supports Australian Music Industry to get the full story.

Funding your post-lockdown car purchase with a pre-approved car loan

Patiently waiting for lockdown to end so you can go out and treat yourself to a new set of wheels?

Well, if you plan on taking out finance to fund the purchase, then you might want to consider getting pre-approved for a car loan. That way, when you find the car you want, you can get the ball rolling with the peace of mind that you’ll be ready with the money to seal the deal.

Read the full article: How a pre-approved car loan could fund your post lockdown vehicle purchase to learn more about the pros and cons of car loan pre-approvals.

Revving up to get yourself a ride? Then be sure to take a look at our car loan comparison tool below so you can compare car loan options today:

Compare Car Loans today - last updated 24 May 2024

Search promoted car loans below or do a full Mozo database search. Advertiser disclosure
  • Used Car Loan

    Fixed, Secured, No vehicle age limit

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Get a competitive fixed interest rate on a secured used car loan of up to $75,000 depending on your credit score. No vehicle age limits. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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    Details
  • Car Loan

    Up to 7 years old, Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.49% p.a.
    6.84% p.a.based on $30,000
    over 5 years

    Purchase or refinance a new or used car, caravan or motorbike, up to 7 years old. Fixed rate with terms from 1 to 7 years. Make additional payments and free redraw. No early payout penalties. No monthly fees. Quick start application in less than 5 minutes online.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.49% would cost $35,460.64 including fees.

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    Details
  • New Car Loan

    Fixed, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 21.78% p.a.based on $30,000
    over 5 years

    Get a competitive fixed interest rate on a secured new car loan of up to $75,000 depending on your credit score. Easy online application. Fast pre-approval. Pre-approved funds held for up to 3 months. No monthly account keeping fees, no exit fees and no early repayment fees. Flexible weekly, fortnightly or monthly repayments on terms from 1 to 7 years.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

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    Details
  • New Car Loan - Special

    Home Owner Discount, Including Demo, Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    6.24% p.a.
    7.36% p.a.based on $30,000
    over 5 years

    Low variable car loan rate for purchasing new and demo vehicles from dealers. Personalised loan amounts between $5,000 and $150,000. Flexible repayment options. Choose between the 3 to 7 year loan terms. Good credit history. Stable employment history and Australian citizenship or PR required.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 6.24% would cost $35,880.27 including fees.

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    Details
  • Any Age Car Loan

    Variable, Secured

    Interest rate
    comparison rate
    Monthly repayment
    10.69% p.a.
    10.97% p.a.based on $30,000
    over 5 years

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 10.69% would cost $39,053.66 including fees.

    Compare
    Details

* WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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