Beware of ANZ and High Interest Rate Loans!
It is not that long ago that were encouraged to SAVE … save for what we wanted.
That all changed and ANZ bank as one of the big 4 banks is a leader in encouraging debt. But so do CBC, AMEX, NAB, Virgin Credit, Westpac and many others. To understand the banking industry is something few busy people ever do. Even on the ANZ Home loans website they say “Comparing banking products can be confusing and time consuming.”
But isn’t this just great how the ANZ Homeloans page is simply covered in “zeros”, like:
- “$0 monthly account service fee …” and
- “$0 annual credit card account fee …”
Wouldn’t be any ‘trickery’ there would there? Surely not, not the ANZ bank now.
Zero’s are easy to understand … well, they used to be.
So even though we don’t understand banking products well … they ‘consume’ our lives.
Home loans, car loans, personal loans, credit cards and on and on … each with different interest rates, different terms and conditions and policies. Come on, be honest here.
Who actually reads all of the fine print? Does anyone?
You would assume the ANZ and other banks do, or is it only their solicitors who understand them?
One of the JP Morgan family said that if you want to make money and become rich you must make things complex and complicated.
Banks like ANZ have made an art form out of confusion and evidently they are all in bed with each other, as we saw at the height of the recent GFC (no that’s not the Geelong Football Club … it stands for Global Financial Crisis). Do you remember that only one bank was sacrificed … and it came as a shock to the others. They thought they were all safe … safety in numbers I suppose.
About five years ago I had taken out an ANZ loan … it was very easy to apply for, no hoops to go through, or ladders to climb. At the time I was heavily involved in creating a new movement called Your Healthy Planet.com, all about us working together for the benefit of everyone.
Is that the same philosophy of the banks … like ANZ? Don’t think so!
Banks play “win as much as we can … and screw you.”
If you haven’t personally seen or felt the ramifications of this philosophy I hope you never do, but many have and that may be losing your house, losing your business, declaring bankruptcy, having possessions repossessed and in some cases even worse.
ANZ bank still charges very high interest rates (my loan is 19.74%) at a time when the US Federal Reserve has continued its ZERO interest rate to encourage growth and spending. It seems like a very sick ‘puppy’ this whole banking system and so I am interested to find out if there are any financial organisations out there that do care for their clients, and will work with them rather than “screw them” like the ANZ bank.
In fairness to two other banks that I had dealings with … Westpac and AMEX both reduced the interest rates on my outstanding loans, assisting in their repayment.
If you do have personal experience with an organisation you would happily recommend to your friends or family please let me know.
I would not recommend the ANZ to anyone.
The project for completion of Your Healthy Planet.com took almost two years longer than our initial estimates. My wife often said “I can’t believe we are still working towards completing this, no one else would do this.”
She still loves me … and it has been very hard road, but one of our mentors is that amazing human being, the late R Buckminster Fuller and just one of the many things he said was:
“Don’t fight the existing reality, but rather create a new reality, one that makes the old one obsolete.”
Today, we have the resources and the know-how on our small planet to provide a high standard of living to every man, woman and child on earth, without disadvantaging anyone.
We have had this capacity now for over forty years, but few people know it is so.
The existing paradigm of having some people WIN at the expense of others does not work anymore … it is no longer the truth, and it is no longer integrity.
Buckminster Fuller also made it very clear, “If humanity does not opt for integrity we are through completely. It is absolutely touch and go. Each one of us could make the difference.”
If you have faith in human beings then I encourage you and invite you to join others taking responsibility … join us in a new movement and let’s create your healthy planet for your children and their children too.