If you’re asking what the current official cash rate is by the Reserve Bank of Australia (RBA) which influences the interest rates borrowers may be offered, we’ll answer it here.
Cash Rate: 4.35%
This number is accurate until the 18th of February 2025, on which date will be the next RBA Board Meeting and anticipated Official Cash Rate announcement.
Personal loans have become an increasingly popular financial tool for Australians, offering flexibility and quick access to funds for various needs, from consolidating debt to funding home renovations.
Yet, like all financial products, personal loans come with benefits and potential drawbacks.
Before deciding whether a personal loan is right for you, it's crucial to weigh these pros and cons to ensure you're making an informed choice.
In the financial landscape of Australia, your credit rating is more than just a number—it's a key indicator of your financial health and a critical factor in determining your eligibility for loans, credit cards, and other financial products.
Here we’ll be answering all your questions on this term like: “what’s the definition of a balloon payment? What is it for?” We’ll also give you everything else you need to know. You can even use our auto loan balloon payment calculator powered by AILO for your loan search.
You will no longer be able to claim deductions on your income tax return for ATO interest charges (GIC and SIC) incurred on or after July 1, 2025.
If you owe any of these interest charges to the ATO, or if you incur any during this 2024-25 tax time—this is relevant to you. Below we’ll explain everything you need to know about these latest changes.
