Banking Packages Acticle in AFR

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From: Keith J


This article from Saturdays Financial Review may be of interest

Banking Packages

If you're wealthy, the banks want your business - and they're prepared to offer attractive deals to get it. But not all packages are created equal, and it still pays to shop around and watch the fine print.

Read the entire story at:
http://afr.com/personalfinance/2001/05/19/FFXTQP1UUMC.html
 
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Reply: 1
From: Ian Findlay


Hi all,

Does anyone have any of these "professional packages".

The AFR article is very useful but in real liife how do the banks compare
etc, which is best?
Any downsides?

Ian

----- Original Message -----
From: "propertyforum Listmanager" <[email protected]>
To: <Recipients of 'propertyforum' suppressed>
Sent: Saturday, May 19, 2001 10:27 AM
Subject: Banking Packages Acticle in AFR


> From: "Keith J" <[email protected]>
>
> This article from Saturdays Financial Review may be of interest
>
> Banking Packages
>
> If you're wealthy, the banks want your business - and they're prepared to
offer attractive deals to get it. But not all packages are created equal,
and it still pays to shop around and watch the fine print.
>
> Read the entire story at:
> http://afr.com/personalfinance/2001/05/19/FFXTQP1UUMC.html
>
>
>
> To reply: mailto:p[email protected]
> To start a new topic: mailto:p[email protected]
> To login: http://bne003w.webcentral.com.au:80/~wb013
>
>
 
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Reply: 1.1
From: Dale Gatherum-Goss


Hi

Yes, I am a CPA and I have had a package for about 7 years now. They do save money and yes, the banks try that little bit harder for anyone that they consider "could" become wealthier.

A number of my clients have packages. Often it's just a matter of asking the right people.

Cheers

Dale
 
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Reply: 1.2
From: Keith J


My CBA package costs me nothing & gives me 0.5% discount off variable & 0.25% discount off fixed rates. So I'm happy.
 
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Reply: 1.2.1
From: Donna Larcos


I have the NAB Professionals package. It
does cost me $375 p year but the biggest
advantage for me is no loan application
fees and as I make two or three of these
a year, and at a cost otherwise of $250 to
$600 per loan, it saves me heaps. Also I
get 0.5% of variable home loans, some
loading for term deposits (never had any)
and also useful is I pay no other bank
account or transaction fees including use
of other bank ATMs etc.

They have just approved my next round of
loans based on increased equity growth
with an LVR of 70% and 45% DSR. I do
have direct access to a personal banker. I
have home loans, LOC loans, and credit
cards with them.

Has anyone got a better DSR than this
without resorting to no doc loans?

Donna
 
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Reply: 1.2.1.1
From: Rixter ®


I have Challenge/Westpac Premier Advantage package that entitles me to no currrent or future loan application fees, no credit card fees, no savings account fees, no ongoing monthly maintenance fees on any of my accounts and best of all I get .7% interest rate discount off all my variable personal & investment loans..

This package does have a annual fee of $300 each year but over all it saves me a whopping $1700 per year on current interest rates..Better off in my pocket than theirs, HAY!!!!!!!Thats enough to fund another Ip...AH Lifes Grand!

Happy Investing,
Rixter :)
 
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Reply: 1.2.1.1.1
From: Paul Zagoridis


Like Donna I have the NAB pro package. I like the account and application fee savings.

However be careful about the so called "discount" on their products. In the NAB's case this is 0.5% discount on the Flexiplus Mortgage, which is a LOC-style product normally priced 1.0% ABOVE the no-frills var loan. So I pay 0.5% premium to have an LOC.

Dreamspinner
 
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Reply: 2
From: Victor Mann


Not all banks require professional association for professional packs
Suncorp have a pack which is also a line of credit (currently6.6%) 250 a year fee no on going fees and all the usual bells and whistles inc no app for original pur or future purch. Only criteria is min loan amount of 150K for first property

Just in case i am not an agent for suncorp but i am a broker and am happy to answer any queries the forum members may have. Good luck with all your investments. Great forum and thanks for all the posts cause i am still learning new things all the time

Eli


On 5/19/01 10:22:00 AM, Keith J wrote:
>This article from Saturdays
>Financial Review may be of
>interest
>
>Banking Packages
>
>If you're wealthy, the banks
>want your business - and
>they're prepared to offer
>attractive deals to get it.
>But not all packages are
>created equal, and it still
>pays to shop around and watch
>the fine print.
>
>Read the entire story at:
>http://afr.com/personalfinance
>/2001/05/19/FFXTQP1UUMC.html
 
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