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1 Qantas Points, offered by Macquarie, accrue and will be credited to your Qantas Frequent Flyer account in accordance with the ‘Macquarie Bank Flyer Home Loan Terms and Conditions ‘. You must be a member of the Qantas Frequent Flyer program to earn and redeem Qantas Points and to qualify for a Macquarie Bank Flyer Home Loan. A joining fee usually applies. However, Macquarie has arranged for this to be waived if you take out a Macquarie Bank Flyer Home Loan. Membership and the earning and redemption of Qantas Points are subject to the Qantas Frequent Flyer terms and conditions available at You will not receive any Qantas Points while you have defaulted on a loan repayment on your loan account and this amount remains outstanding for 60 days or more. Macquarie is not responsible for the administration of the Qantas Frequent Flyer program. Qantas Airways Limited remains at all times solely responsible for the administration of the Qantas Frequent Flyer program.

Qantas has made no enquiries as to the accuracy of the Macquarie products or services described, and is not responsible for errors or omissions. Macquarie Bank Flyer Home Loans are not Qantas products and are not offered or issued by Qantas but by Macquarie as Servicer.

2 Not available on loans to Self Managed Superannuation Funds or during the construction period of a loan. Terms, conditions and limitations apply. For more information, refer to the Macquarie Bank Flyer Home Loan Terms and Conditions.

Information and interest rates are current as at 6 October 2015 and are subject to change.

Fees Charges

  • At the end of the fixed rate period, the interest rate will revert to the current standard discounted rates. Our Standard Variable rate is currently 5.50% pa (variable and comparison* ) for owner occupied loans and our Investment Variable Rate is currently 5.77% pa (variable and comparison* ) for investment loans. You will be notified of the discount that applies to your rate prior to the end of your fixed rate period.
  • Fixed rate loans may be subject to significant break costs. Please refer to your loan contract and terms for details of break costs applicable
  • There are no account management fees or application fees but other fees and charges may apply. See the full schedule of fees and charges .

Today – s SBA Loan Rates: Commercial Real Estate Loans

#sba loan rates

Today’s SBA Loan Rates

Jan. 18, 2011

We are going to break down the current SBA loan rates. into two categories, 1. on SBA 7a loans and 2. on SBA 504 loans. Both are very different so we will describe what the current rates are separately, and give a brief description of the programs themselves.

SBA Loan Rates on 7a Loans

The vast majority of banks tie their 7a loans to Prime Rate, which is currently at 3.25%. The banks margin is normally 2.75%, so the Effective Rate for the borrower is currently at 6%. It is very uncommon in this market for a bank to offer an effective rate less than 6%. Most banks are reluctant to lend, so if they do they are currently maxing out their margin.

Also, the SBA 7a loan. is used for the purchase or refinance of commercial real estate, business goodwill, equipment, debt consolidation (limited) and working capital. The loan is almost always amortized over 25 years and the rate floats with Prime, adjusting quarterly. Prepayment penalty is 5% year one, 3% year 2, 1% year 3, gone thereafter. Loan amounts can go up to $5,000,000.

SBA Loan Rates on 504 Loans

The SBA 504 loan. has two different loans and therefore 2 different rates. The first lien position loan is a conventional bank loan, so its terms and rates vary from one lender to the next. By the most common loan would be a 5 year fixed on either a 20 or 25 year amortization schedule. For example, our 504 loans are tied to the LIBOR 5 Year Swap, which is currently at 2.15%. The margin depends on the financial strength of the borrower as well as the loan size, but the Effective Rate is currently between 5.8% and 6.2%, on a 25 year amortization schedule. Theses loan also come in a 1, 3 or 10 year fixed rates, on a 15, 20 or 25 year amortization schedules.

The second lien loan is the SBA loan also referred to as the CDC loan, it. s a 20 year fixed loan on a 20 year amortization schedule. The current debenture rate is 5.79%.

Go here to see the most updated commercial loan rates. including the 504 debenture rates, conventional commercial mortgage and SBA 7a loan rates.

Tips on Finding the Best Auto Loan Rates

#best auto loan rates

Tips on Finding the Best Auto Loan Rates

Page 1 of 5

How to Find the Best Car Loan Rates

Finding the best auto loan rates hasn t been easier than it is today, especially if you have excellent credit. An October, 2012 report by Automotive News said that banks are charging U.S. buyers the lowest interest rates on new-car loans since the Federal Reserve began surveying them in 1971. Additionally, Comerica Bank s Q2 2012 Auto Affordability Index shows that new vehicles are more affordable for the average American household than they ve been since the early 1980s.

These trends, my friends, indicate a buyeR&Rsquo;s market. Quite literally, there hasn t been a better time to buy a new car. truck, or SUV since I was in junior high school.

As favorable as market conditions might be, getting the best car loan rates still requires some effort on the buyeR&Rsquo;s part, unless, of course, you re taking advantage of a 0% financing opportunity. Rates don t get any lower than that.

If your credit isn t perfect, or the vehicle you want to buy isn t available with zero-interest financing, you ll need to shop around for the best auto loan rates. On the pages that follow, we ll provide useful tips on finding the best auto loan rates.

Page 2 of 5

Know Your Credit Score

Tip #1: Know Your Credit Score

Before you shop for the best auto loan rates, it s helpful to know exactly what s on your credit report, and what your credit score is. There are three primary credit-reporting agencies in U.S. Experian, Equifax, and Trans Union and they are required by law to provide consumers with one free credit report each year.

To obtain your free credit reports, it isn t necessary to contact each credit-reporting agency individually. Simply visit and you can make a single request for all three reports.

When your credit reports arrive in the mail, be sure to review them closely. If you find errors, be sure to file an individual dispute for every error discovered, and do this as soon as is possible. According to federal law, the credit reporting agencies have 30 days to verify whether the information on your report is accurate, or they must remove it from your record.

Now that you know what your credit report contains, and what your credit score is, you re ready to try our tips for finding the best auto loan rates.

Page 3 of 5

Shopping Lenders for the Best Auto Loan Rates

Tip #2: Shop a Network of Lenders

Rather than approach financial institutions individually to discern the best car loan rates, try shopping for the best auto loan rates through a network of lenders, such as Lending Tree. With a company like Lending Tree, consumers can submit a request for a car loan and obtain the best car loan rates from several financial institutions.

Approaching the task in this fashion saves time, and can quickly help a consumer find a competitive rate that serves as a benchmark for further competitive shopping.

Tip #3: Shop Your Current Bank or Credit Union

Once you know what the best auto loan rates are through a lending network, its worthwhile to visit the local branch of your existing bank or credit union to see if they can offer you a better rate. Be sure to take the best existing offer you have along for the visit, and ask your financial institution if they can beat your best deal.

Oftentimes, because they re more familiar with your finances and bill-paying history, your existing bank can work with you to provide the best auto loan rates.

Page 4 of 5

Shopping Dealers for the Best Auto Loan Rates

Tip #4: Shop the Dealer

Car dealers have access to a wide variety of finance options, and can often provide you with the best auto loan rates. However, your chances of getting a great interest rate are improved if you walk through the door pre-approved with a loan because the dealer and its network of financial institutions will know that you re credit-worthy, and they ll know what rate they need to beat to win your business.

And if they can t, don t worry about it. If you ve followed our tips on finding the best auto loan rates, you ve arrived at the dealership with a pre-approved loan that already meets your requirements.

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Timeline: The History of Federal Student Loan Interest Rates

#student loan rates

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Timeline: The History of Federal Student Loan Interest Rates

Published on May 22, 2012

On July 1, 2012, subsidized Stafford loans are returning to their scheduled 6.8% rate after a temporary four-year cut. Doubling from 3.4%, the increase, though not unexpected, has student advocates up in arms. And although both Democrats and Republicans want to extend the 3.4% interest rate, the parties cannot agree on how to fund the $6 billion necessary.

History of student loan interest rates

The tumultuous history of student loan interest rates is characterized by bipartisan indecision, delayed legislation and temporary solutions. Understanding the events is key to analyzing interest rates  current trajectory. Here s a summary of the last 20 years in student loans.

The following information is from the New America Foundation .

1992-93: (6.94%) Variable interests rates are introduced for federal student loans. Rates are determined annually by short-term U.S. Treasury bills plus 3.1% (maximum of 9%).  Loans issued in the preceding 10 years retain an 8% to 10% fixed rate.

1993-94: (6.22%) Congress creates the direct loan program to gradually eliminate the need for bank loans. Beginning in 1998, variable rates are tied to long-term U.S. Treasury bonds rather than short-term bills. Rates equal what it costs the Treasury to borrow, plus 1%.

1994-95: (7.43%) The variable rate maximum drops from 9% to 8.25%.

1998-99: (7.46%) The interest rate change set to begin in 1998  is postponed another five years. Congress had predicted the direct loan program would replace private lenders by 98, but private loans still account for 60% of all federal student loans. The interest rate change is declared untenable for private lenders and delayed until 2003.

2001-02: (5.99%) The scheduled 2003 alterations become a topic of debate. Student advocates defend the change, arguing it would provide lower interest rates for borrowers. Some loan industry representatives and lawmakers propose abandoning the plan and continuing with the current system.

2002-03: (4.06%) The 1993 rate change is canceled. The current variable rate remains in place. In 2006, loans will begin to carry a 6.8% fixed interest rate. The 6.8% rate is determined by predicting future rates using the 1993 structure.

2005-06:  (5.3%) Over the last few years, the variable rate structure has consistently yielded a lower rate than the fixed 6.8% scheduled for 2006. A House proposal cancels the change. A Senate proposal maintains the change. Because fixed interest rates mean larger savings for deficit reduction, the Senate proposal is enacted, and the 2006 fixed rate remains in place.

2006-07: (6.8%) With the 6.8% fixed rate in place, Democrats launch a campaign pledge to cut student loan interest rates in half.

2007-08: (6.8%) Making good on the Democrats pledge, Congress passes a bill for a temporary interest rate reduction. The cut, which only affects subsidized Stafford loan, will last four years before reverting to the normal fixed rate.

2008-09: (6% for Subsidized Stafford, 6.8% for other loans) The rate reduction for new subsidized Stafford loans begins. According to Jason Delisle of the New America Foundation, interest rates would only have been 2.5% had the variable rate structure remained intact.

2010-11: (4.5% for Subsidized Stafford, 6.8% of other loans) During the third phase of  rate cuts, Congress eliminates the bank-based federal student loan program. The direct loan program now issues all loans.

2011-12: (3.4% for subsidized Stafford, 6.8% for other loans) The fourth and final phase of the temporary rate cut further reduces rates. A budget bill makes graduate students ineligible for subsidized Stafford loans.

2012-13: (6.8%) The 2007 rate reduction expires on July 1, 2012. Rates revert to 6.8%.

  • April 27, 2012:  The House of Representatives passes a bill to extend the 3.4% interest rate by redirecting funds from the Prevention and Public Heath Fund created by the healthcare reform law championed by President Obama. The White House promptly responds with a veto threat.
  •  May 8, 2012. Senate Republicans block a Democratic bill that would have paid for the one-year extension by eliminating a tax break for S corporations (those that pass through profits and losses to shareholders, who number 100 or fewer). It would have forced high-earning stockholders to pay additional Social Security and Medicare payroll taxes.

Who is affected? And how much?

Because subsidized Stafford loans were the only ones to receive the 2007 interest rate reduction, they are the only loans affected. Unfortunately for students, they account for a huge portion of financial aid. Subsidized Stafford loans are need-based, granted to mid- to low-income students. The subsidized part means the government will pay the interest while the student is in school or if he or she requests deferment.

Depending on the political agenda, the numbers can be spun to seem either cruel or inconsequential. Some say the increase will cost students an average of $1,000 more per year of school. Others say the increase is equivalent to a mere $6 per month. The amount isn t huge (especially when compared with overall tuition costs), but it will certainly have some effect.

Is 6.8% interest fair?

If you re looking to confirm a pre-established stance, we suggest you cease reading. The issue is not black and white. Here are some facts:

  • This is not a new interest rate increase. It is a scheduled return to the fixed rate structure that was in place four short years ago.
  • The increase will cost students more money. The amount of money is substantial but not reason enough to reconsider your entire education.
  • Had we kept the variable rate structure in place, student loan interest rates would be far lower. But we didn t. Oops.
  • According to one expert. another year of 3.4% interest will cost taxpayers $6 billion.
  • High graduate unemployment/underemployment rates exaggerate the challenges of paying back ever-increasing loan debts.
  • Republicans and Democrats would both like to extend the 3.4% rate. They can t agree on how to fund the reduced rate, and thus 6.8% stands.

With the 2012 election season in full swing, it will be a battle before Congress comes to an agreement. The two parties will continue to politicize, which unfortunately helps no one but their own party interests. Everyone can agree that education is good, but how can we empower and enable students to make the best decisions for their future? This is the first of many higher education issues that must soon be addressed. College tuition continues to increase, substantially outpacing inflation. Other federal programs, such as Pell grants, remain underfunded. A generation of Americans is starting adult life firmly entrenched in a debt cycle. And I am not even going to touch the quality of education; I ll leave that to another blog.

Three ways to get an interest-free loan – Mirror Online

#interest free loan

Three ways to get an interest-free loan

Here are three routes to interest-free money that won’t be found in the ‘loans’ section of your bank!

Here are three routes to interest-free money that won’t be found in the ‘loans’ section of your bank!

The words ‘interest-free credit’ usually put me on my guard immediately. Many of these deals come with enormous, scary hidden catches; and anyway, in a perfect world, we’d all live within our means and never spend money we didn’t have.

Unfortunately, that’s not always how it works. Genuinely interest-free loan deals do exist – and when you really need to access extra cash, they can be an economical and useful financial tool.

They can also help you get your finances back under control, by chopping the amount of interest you’re already paying on debts.

Here, I’m going to highlight three good ways of getting interest-free cash. I’m also going to outline the pitfalls you need to watch out for – so your ‘free’ money doesn’t drag you deeper into the financial mire.

By the way, if you’ve been hunting through the Mirror Money personal loans section. you won’t have found these options. In fact, providers don’t label them as ‘loans’ at all!

1.) An interest-free overdraft

Many current accounts now have a substantial 0% interest overdraft facility included in the package.

How much can I borrow? It depends on the account you go for, but at the moment (excluding student accounts) the largest interest-free overdraft on offer comes from Santander with its Preferred Current Account, which promises to match your previous overdraft up to a maximum of 5,000.

Sadly, the overdraft is only free for the first 12 months. But on the plus side, you will pocket 100 by opening the account as a welcoming present!

Remember that the size of the interest-free overdraft you’re offered will largely depend on yourcredit rating. So for example, this account is advertised as coming with a 0% overdraft of ‘up to 5,000’. This doesn’t necessary mean you will be offered 2,000 interest-free.

How long is the cash interest-free? Again, it depends on the account, but borrowing via a 0% overdraft is definitely not a long-term borrowing solution. Unless you are a student, the majority of current accounts will only let you have an interest-free overdraft for the first year.

After this, you’ll be charged substantial interest on your remaining negative balance (or in some cases a fixed daily fee) so you need to make sure you’ve paid off your debt within the 0% period.

What to watch out for: It’s very important you don’t exceed your 0% overdraft limit. Doing so will push you into an ‘unauthorised’ overdraft – on which you’ll be charged horrendous rates of interest (typically 20-30% APR).

2.) A 0% on purchases credit card

The other main way of getting a totally ‘free’ loan is to take out a credit card that offers 0% interest on all new purchases.

How much can I borrow? A credit card will normally indicate what its maximum credit limit is before you apply. However, the credit limit you’re offered might be much lower, and (like an overdraft) will depend on your personal financial circumstances.

How long is the cash interest-free? This depends on the credit card. At the moment, the market-leader is the Tesco Personal Finance Clubcard Mastercard. which offers 0% interest on new purchases for a whopping 15 months.

So again, as you can only borrow interest-free for 15 months, it’s not a long-term borrowing solution.

What to watch out for: When your 0% deal ends, you’ll be charged a very high level of interest on your remaining balance (typically 15-20+% APR) – so it’s crucial you clear your balance before this happens.

If you do still have a balance remaining when your 0% deal ends, you could try to take out 0% balance transfer card (see below) and shift their debts across to it.

However, this is a very risky strategy. We all know how much lenders have tightened up on giving credit, and there’s no guarantee you’ll be one of the lucky ones!

You also need to make absolutely sure you make the minimum repayments every month (more if you can afford it). If you’re late or default on a payment, you may well be fined, and your 0% deal is likely to be whipped away from you.

3) A 0% on balance transfers credit card

If you’re already paying interest on a debt, you could turn it into an interest-free loan by shifting it onto a card offering 0% on balance transfers.

How much can I borrow? As with a 0% purchase card, a 0% balance transfer credit card will normally indicate what its maximum credit limit is before you apply. However, the credit limit you’re offered will depend largely on your credit rating and salary.

How long is the cash interest-free? Again, this depends on which card you choose. At the moment, the longest balance transfer deal is on offer from Barclaycard. It lasts for 22 months (with a 2.9% transfer fee).

What to watch out for: While you’ll temporarily eliminate interest payments on your debt, this is not totally free money: The vast majority of balance transfer credit cards charge transfer fees (typically 2-3% of the total debt) to move your money onto them.

If you don’t manage to clear your debt during the 0% period, you’ll be saddled with big interest charges. Rates will typically be between 15-20% APR – but there are plenty of horror stories about people being charged 30% APR or even more!

And again, make absolutely sure you make (at the very least) the minimum payments every single month. Otherwise, you could end up with a fine and a hefty rate of interest on that large balance!

A longer-term, low-rate solution

As you can see, all these are relatively short-term borrowing solutions. If you need a low-interest loan lasting much longer than a year, a long-term, low rate credit card might be a better solution for you.

For example, the Barclaycard Simplicity card offers a low rate of 7.9% APR (variable) on both purchases and balance transfers for the lifetime of your debt. And no transfer fees apply.

Use Mirror Money’s loans comparison service or our current accounts service to explore what’s on the market and see if there’s the right loan for you.

This article was written by our partners at

Tips for Getting a Loan With Bad Credit

#quick loans for bad credit

Getting a Loan With Bad Credit

By Justin Pritchard. Banking/Loans Expert

Justin Pritchard helps consumers navigate the world of banking.

It’s hard to get a loan with bad credit. Options are limited, and borrowing is more expensive. If your credit is less than perfect you re not completely out of luck – it s just that you ll have to work a little harder to get funded. But in your situation it s easy to fall into expensive traps, so let s review the things you can do to improve your chances.

What is Bad Credit?

If you’ve been told that your credit ruined your chances of getting a loan, make sure it’s true. There may be errors on your credit report. Once those errors are fixed, things may look very different to lenders.

The term bad credit means different things to different lenders. One lender might turn you away while others are willing to lend. Don t be afraid to shop around before deciding that your credit is a dealbreaker. That said, there are two things to be careful of in this process:

  • Submit all of your applications within a short period of time (two weeks or so) so that you don t ding up your credit with too many inquiries
  • Apply only to reputable lenders such as banks, credit unions, and P2P lenders described on this site; predatory lenders will almost always give you a loan, but you ll regret it later

If your credit is truly bad, here are a few ways to try getting a loan with bad credit.

Visit Credit Unions

Credit unions may be more willing to offer you a loan with bad credit. Because they tend to be smaller than large banks. there s a better chance that they ll look at you personally – as opposed to just looking at a credit score and the loan application.

Continue Reading Below

If you sit across the desk from a human being, you’re more likely to get a loan with bad credit .

Try Peer to Peer Lending

Peer to peer lending services are another good option for getting a loan with bad credit. Instead of borrowing from banks (with rigid rules and higher overhead costs), you can borrow from individuals. They may be more sympathetic, but they’re not looking to lose their money.

Tap Friends Family

Most peer to peer lending sites allow you to borrow from strangers. However, if your credit is really bad, your friends and family may be your only option. They know you, and may be willing to take a chance. If you borrow from friends and family, do it properly so everybody’s protected: document the loan terms on paper, and consider using a third party to process payments.

If friends and family won’t hand over their own money, they might still be able to help. If they have good credit. they can help you qualify for a loan as co-signers .

Use Collateral

If you’re having trouble getting a loan with bad credit, you may need to put up collateral. By pledging something of value, your lender knows you’re serious and has a better chance of collecting some money. If you have equity in your home, you can probably borrow against it – but there are significant risks.


Some lenders take advantage of folks looking for loans with bad credit. They charge astronomical fees and make it nearly impossible to dig yourself out of debt. Study up on the following types of loans and avoid anything that looks similar: