Savers — still the big winners for 2009!
Did you know, during the last quarter Australian households saved 2.5 times more than any quarter on record? As I’ve said before, savers are winners! I’m just glad our high interest savings products can help increase your financial buffer.
Throughout 2009 we’ll continue delivering better offers in banking, whether it’s a new savings solution or home loan. The fact we’re still the largest retail bank after the big 4, in household deposits in Australia means we must be offering you the choices you want.
But, let’s get to this issue of The Juice!
Glenn Baker, our Head of Treasury explains why interest rates have
rollercoasted so dramatically over the last year… Find out why
there’s never been a better time to consider a home loan… Meet
our happy (and inspirational) winners of our savings promotions…
Get some great tips on how to style your property for sale… Our
customers continue to give us great savings tips…
Plus, a whole lot more.
Enjoy The Juice, keep saving and winning!
Eric Drok
Chief Executive Officer
Making sense of the interest rates
Glenn Baker, our Head of Treasury, explains the rollercoaster ride
Glenn Baker,
Head of Treasury
Glenn, one minute the rates are high, the next minute they're low, what's happening?
“Yes, the cash rate peaked at 7.25% in March last year. Rates started coming down in September 2008 when the cash rate was lowered to 7.00%. And now they're the lowest since the 1970's.”
Why have they moved so much?
“The Reserve Bank of Australia reduced rates dramatically once they realised the global recession would be much deeper and more severe than originally thought.
Lower interest rates make it easier for borrowers to service their commitments. They also have more money to spend on goods and services, which in turn creates higher economic activity and employment.”
What does this mean for ING DIRECT mortgage customers?
“Here's a good case study. For borrowers with a Mortgage Simplifier, rates have tumbled from 8.99% p.a. in August 2008 to 5.19% p.a. in February 2009. The savings for customers with an average mortgage of $300,000 paying off principal and interest over 25 years is $740 a month. On an interest only mortgage of the same amount the savings are $940 a month.”
So, how low could the cash rate go?
“... Over the course of the next few months the official cash rate is likely to fall by as much as another 1% (to 2.25%)...”
If you’re considering a home loan (or looking to save on your existing loan),
now’s the perfect time to make it happen. Check out our great home loan rates now.
DIY Super - at call
Want to invest the cash component of your DIY Super Fund in an at call account that offers a competitive variable interest rate? Consider our Business Optimiser:
- No minimum deposit
- No fixed term
- No ING DIRECT fees
- Simple and easy to operate
- Link to an external bank account.
DIY Super - Term Deposits
Looking for an investment that’s not exposed to market fluctuations? Consider our new Business Term Deposit:
- Terms available – 30 day, 90 day, 180 day, 1 year and 2 years (fixed rate for length of term)
- Minimum deposit $10,000
- No ING DIRECT fees
- Link to an eligible Business Optimiser or external bank account.
Remember, combined balances up to $1 million per customer are guaranteed by the Australian Government until 12 October 2011. To decide which option works best for your DIY Super Fund click here.
The winning dream is...
Last year we asked you to share your savings dream for the chance to win up to $10,000 in a Savings Maximiser account. Thanks to over 4,500 of you who snapped up such an inspirational storm.
Now, drum roll please!
Congratulations to all the prize winners – Caroline Pemberton, Andrew Kee, Lauren Baird and to Karen Lambert, our main prize winner. Karen plans to use her prize to help build a school for disadvantaged children in Taiwan. We wish
her and her dream every success.
How online statements can help you
- Switching to online statements could be a basic way to protect you from identity fraud. You don’t have to lock your mailbox or go to the Post Office. Instead, we’ll email you when you statement is ready for you to view online.
- It’s more convenient with no piles of paper and archived online statements going back two years!
- We’ll also donate $2 to WWF for every customer who switches to help the Snubfin Dolphin.
To switch today,
click here!
Strike while the home loan iron is hot
Right now is a good time to consider a
home loan:
- Interest rates are the lowest since the 1970’s
- The boost in the First Home Buyers Grant
is still available (but only until
30 June 2009, so hurry) - And we’ve made the home loan process
even easier. Here’s how:
Our new 2 minute online indicative pre-approval
Now it only takes 2 minutes to get an indicative pre-approval for an ING DIRECT home loan. Simply go online and use our calculators with the pre-approval form to check out your borrowing power. Once you’ve completed and submitted your form, we’ll let you know on the spot if you have indicative pre-approval. Check it out now!
Your own Home Loan Specialist
For your very own dedicated Home Loan Specialist, apply for your home loan directly through ING DIRECT.
Discounted Home Show tickets
Meet our Home Loan Specialists face-to-face at the Home Buyers Home Show in Brisbane on 13 and 14 June. Tickets for ING DIRECT customers are half price at only $7.50 each. For more information, email us at homeshow@ingdirect.com.au
Wishing you could professionally style your property for sale?
The aesthetics of your property can have a huge impact on the sale price. Gail Dempsey, Interior Property Stylist and Director of Instant Interiors, shares some clever tips and tricks to make the most of your property before you go to market.
Gail Dempsey, Director Instant Interiors
- CLEAN:
- Paths, windows, soft furnishings, carpets.
- STORE:
- Excess furniture, ornaments, linen, clothes. Less is more!
- ORGANISE:
- All cupboards and wardrobes.
- PAINT:
- Tired flaky areas. Lighten up paintwork, feature walls.
- FURNITURE:
- Position to maximise room size….don’t block walkways.
Remove the feeling of overcrowding and cluttering. - LIGHT:
- Window coverage fully open, high wattage globes.
- REPAIR:
- Complete all essential repairs, squeaky doors, dripping taps and broken tiles.
- AMBIENCE:
- Create with music, fresh air, positive smells,
perfect temperature.
What else is new?
Here’s a quick snapshot of upcoming events, recent awards and what’s happening at ING DIRECT.
Supporting out bushfire customers
- Like everyone, we were shocked to read about the devestation caused by the Victorian bushfires.
- Our staff were quick to volunteer their time to help raise money by taking calls at the Red Cross call centre. And for affected customers, we offered quick access to savings funds, no penalties on early withdrawal for Term Deposits and assistance with mortgages.
- If you need further help, please call us on 133 464 at any time.
Update on Snubby
-
Great news - thanks to
ING DIRECT support,
research has expanded
from just one harbour
in Darwin, to the Kimberley
and Broome Harbours. More
updates in our next issue.
ING DIRECT - Lender of the year
- In January we received the Mortgage Choice Lender of the Year award for 2008. If you’re happy, we’re happy!
Coming soon – New iPhone Application
If you’re out and about looking at property, you’ll soon be able to use our exciting new iPhone application, to instantly:
- Work out how much you may be able to borrow from us and what your repayments would be;
- Check out the average house prices in different suburbs; and
- Search for information about our ING DIRECT Mortgage Simplifier.
Coming soon – National Savings Week – 4-7 May 2009
- A week of fun events celebrating the importance of saving in Australian capital cities.
- Find out easy ways to kick start your savings just by making
small changes. - Enjoy freebies! And
experience random
acts of saving,
brought to you by
ING DIRECT – the
true savers bank!
Check in at our website
closer to the date for
more information.
Here's another juicy savings tip
Congratulations to Bethanie Brown
in QLD. You’ve won $100 in bonus interest for cooking up a great savings tip. Thanks to all the other tipsters too.
“One way my husband and I save money each week is to have a “Budget Meal” night once a week. A Budget Meal must be no more than $5 for 2 people. It’s a simple way that we can reduce our weekly grocery bill and it’s also a bit of fun trying to figure out what I can cook each week for that amount.”
Care to Share
If you have something you’d like to share with us and other ING DIRECT customers like savings tips, email us at juice@ingdirect.com.au.
We’ll do our best to publish your thoughts in future editions of The Juice.
IMPORTANT INFORMATION
Information is current as at 25/03/09 and is subject to change. The Case Study in the article titled “Making sense of the interest rates” assumes the interest rate does not change over the relevant period and the repayment amount and frequency remain constant. Actual savings may vary considerably. If your savings tip is selected a tax liability may exist in conjunction with prize winning. Your Savings Tip and name will be published in the next issue of the newsletter. The judge’s decision is final and no correspondence will be entered into. All applications for credit are subject to ING DIRECT’s credit approval criteria. Fees and charges apply. Details of these and the terms and conditions are available on request. Combined balances up to $1 million per customer will be guaranteed by the Australian Government for free until 12 October 2011. ING DIRECT will not offer access to the Government Deposit Guarantee to a customer on the portion of their combined balance over the $1 million threshold. The interest rates that apply to ING DIRECT Term Deposits are the interest rates that are current on the date the Term Deposit is opened. Any advice in this newsletter does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to the Savings Products, you should read the relevant terms and conditions available at our website or by calling 133 464. If you have a complaint, please call us at any time, as we have procedures in place to help resolve any issues you may have. If you do not wish to receive future mailings from ING DIRECT at this address, please call us on 133 464. Products are issued by ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292.