Banking: Cash Flow Problem

Not only can this potentially save you fees, you can avoid the whole issue of banks and other institutions engaging in dual pricing rolling your investments over to a lower rate term deposit when it expires. ASIC has found that institutions are read this advertising high rates on some of their term deposits and maintaining low rates on others. When term deposits mature, theyre automatically rolled into the same term unless you direct otherwise. The problem here is the rate will more than likely be very different to the one you locked in. Even if youre happy for it to be reinvested for the same term, its in your interest to shop around.

HomEquity Bank Helps Seniors Create Tax Efficient Cash Flow

SOURCE HomEquity Bank TORONTO, Feb. 10, 2014 /CNW/ - HomEquity Bank, announced the launch of its newest and most innovative product offering for senior homeowners, HomEquity Bank Income Advantage. With the Income Advantage, senior homeowners can access equity how much does the elevation group cost in their home through 2 separate accounts. The first account is set up for monthly advances and carries a low interest rate of Prime + 1.25%; the second account is set up for lump sum advances and carries a competitive 5 year rate. "This product was developed based on customer feedback and customer need for flexibility" said Steve Ranson, President & CEO, HomEquity Bank. Customers can start with initial advances as low as $500 per month and increase them over time. With the HomEquity Bank Income Advantage homeowners do not have to make any payments - interest or principal - for as long as they live in the home and they are not subject to credit checks and income verification.