Lenders sweeten deals to win mar­ket share

Port Douglas & Mossman Gazette - - FRONT PAGE -

CASH­BACK deals, dis­counted rates, the waiv­ing of fees and gift cards are among the many sweet­en­ers fi­nan­cial in­sti­tu­tions are us­ing to lure cus­tomers. As com­pe­ti­tion gets fiercer among in­sti­tu­tions, they are turn­ing to bonus in­cen- tives to at­tract cus­tomers. Re­search by web­site Mozo shows the home loan mar­ket is where most banks are try­ing to en­tice new cus­tomers with bonuses. Dis­counted rates of up to 1 per cent, the waiv­ing of hun­dreds of dollars in ap­pli­ca­tion fees, cash-back of­fers and even store gift cards are among the deals be­ing of­fered to cus­tomers. Mozo spokes­woman Kirsty La­mont says the plethora of in­cen­tives shows lenders are lur­ing trade amid the spring sell­ing sea­son. At the mo­ment there are 11 lenders of­fer­ing limited-time in­cen­tives for new cus­tomers and that’s in­clud­ing the ma­jor banks and smaller lenders,’’ she says. ‘‘It’s very un­usual.’’

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.