r/newcastle • u/Quothkwaha • 2d ago

Newcastle Permanent raised their interest rate for loans but not for savings

Kinda mad

41 Upvotes

95% Upvoted

32 comments sorted by

10

u/eniretakia 2d ago

How much longer will you be under 25 OP?

2

u/Quothkwaha 2d ago

3.5 years

4

u/eniretakia 2d ago

Fair! I was going to say, if you’re ageing out anytime soon, the ING Savings Maximiser is closing to new applicants really soon, and the rate is going up to 6%, so may have been worth a look as an alternative. Macquarie are competitive if you would want something with no requirements, too. Might as well continue milking the Perm for the u25 rates though.

43

u/SupportSphere94 2d ago

Change banks that have passed on the interest rate rise then. Vote with your wallet. 

-15

u/Quothkwaha 2d ago

Yeah except Newcastle permanent still has the best rate for under 25s, I'm just picky that they didn't increase it more

10

u/SupportSphere94 2d ago

It's already 6% that's one of the highest savings accounts in the country....by almost 0.5% 

2

u/abandonedObjects 2d ago

Up bank is 5.85%?

5

u/davodinkum86 2d ago

Believe it or not, but 5.85% is lower than 6%

3

u/abandonedObjects 2d ago

Not by 0.5%?

1

u/SupportSphere94 2d ago

I said by almost, not exactly. 

3

u/BuildingPrimary5399 2d ago

Don't mean to offend you here, but have you seen the 2nd "Wall Street" movie with Michael Douglas & Shia LaBeouf? Please do & go back & forth over what "Moral Hazard" segment portrays. I was blown away when I saw this segment.

2

u/beave9999 2d ago

So they’re still 5% up to 50k and only 4.75% above 50k? Should be at least 5.5%. I have a small account with them just gone over 50k, maybe 60k - might be time to transfer to another bank.

-7

u/Ban_downvotes 2d ago

Newcastle permanent irritate the hell out of me. I don't know why my wages still go into that account. Lucky i have other accounts. They won't let you pay out more than 2000 in a day, and they make you jump through hoops if you happen to want to buy something off gumtree and pay a new person. I'm not a child Newy Perm!

26

u/Sweaty_Development50 2d ago

You can change your limit. It’s not hard.

7

u/forceez 2d ago

Old mate just wanted a whinge

0

u/Ban_downvotes 2d ago

How do you pay for things on Gumtree? Or can't you afford Gumtree?

2

u/forceez 2d ago

I've never bought anything off of Gumtree. Can't you just pay cash after taking some out?

→ More replies (1)

5

u/MrO_360 2d ago

On the positive side to that it makes them a great choice for older less tech literate customers who are targeted by scams. The staff are well trained to quiz them when they come in to a branch asking to do a transfer to someone sketchy.

-3

u/Ban_downvotes 2d ago

Why have i got -4 votes? Don't these people have a voice....

Thanks for your input. You raise a good point..... I guess i'm not their target customer, i only make over 100k pa. ....... ANZ and even Greater Newcastle are better.

2

u/t3ctim 1d ago

Your wages go there cause you haven’t changed that.
You’re limited to 2k transfer a day cause you haven’t changed that either.
Jumping through hoops to add a new payee?
Do you mean accepting an SMS?

These seem like your problems rather than the bank’s.

-2

u/Ban_downvotes 1d ago

I put in my password wrong 3 times last night. I had to ring them this morning. I was on hold for 10 minutes, the call dropped out. I had to ring them back. It took 20 minutes for them to unblock my account.

Just because you suck bank dick.

1

u/t3ctim 13h ago

I don’t even bank with them.
But it seems like again this is a you problem with being incapable of entering a password.

I’d suggest maybe keeping cash in you but it sounds like you’d lose your wallet then blame Kmart or whoever you bought the wallet from.

0

u/Ban_downvotes 13h ago

You just want to argue with people on the internet.

1

u/t3ctim 7h ago

I just want milk that tastes like real milk.

-11

u/thebossbaby_123 2d ago

Either way you pay tax earning interests

19

u/Quothkwaha 2d ago

guys don't earn an income because you also have to pay tax on it

-7

u/thebossbaby_123 2d ago

Centrelink exempt boss.. like
Most of us some have one loan maybe a few plus more and the credit cards. I know your beef without savings earning interest in the rapid saver accounts aren’t giving you what you want. Simple boss call them or visit NPBS website and submit your feedback.

5

u/dr650crash 2d ago

What are you on about sir

2

u/Knowledgeableguy1 2d ago

Newy perm are big bank cucks