array(6) { [0]=> object(stdClass)#2552 (58) { ["id"]=> string(5) "14389" ["title"]=> string(32) "Major banks rush to bushfire aid" ["alias"]=> string(32) "major-banks-rush-to-bushfire-aid" ["introtext"]=> string(123) "

The big four banks have committed to donating a collective $8.5 million to bushfire recovery efforts.

" ["fulltext"]=> string(5710) "

Both CBA and ANZ have each pledged to give $1 million while Westpac, after being rocked with its recent anti-money laundering scandal, has committed to establishing a $1.5 million fund.

NAB was the last bank to announce its support on Tuesday, pledging to give $5 million to both bushfire recovery and grants for businesses and farmers. It had originally promised $1 million worth of $2,000 grants for customers who have lost their homes last week.

NAB

The National Australia Bank's contribution has included a further $3 million to its Disaster Relief fund (now at a total of $4 million), extending its $2,000 emergency relief and recovery grants for business owners and farmers. 

It has also committed to $750,000 in donations (now totaling $1 million) to the Australian Red Cross and other local organisations in impacted communities.

Consumers are also able to make donations across NAB banking branches and within the mobile banking app.

Further, NAB employees who have had to evacuate their homes can access a $1,000 grant. It is also granting staff who are also volunteering in emergency services "as much paid crisis leave as they require", as part of a "longstanding policy".

Westpac

Westpac’s Bushfire Fund includes a number of grants for rural fire services, customers and recovery work. 

It has promised $500,000 in total of grants to support customers and employees whose properties have been destroyed, with recipients being able to claim up to $2,000 for accommodation, food and clothing.

Westpac has also allocated $300,000 to volunteer firefighters and $100,000 to the Victoria Bushfire Appeal, along with $250,000 to the Foundation for Rural and Regional Renewal and $350,000 in funds for rebuilding and recovery support, and wildlife rescue and rehabilitation.

The bank has also donated a further $200,000 to the Salvation Army Emergency and Disaster Appeal, and it is accepting donation at its branches and through its mobile banking app. 

It has pledged to match any of its employees’ donations to charities providing disaster relief. 

ANZ

ANZ’s pledge has included $300,000 being given to volunteer fire services, with a further $100,000 set aside to match employee donations to volunteer fire services. 

Additionally, ANZ is matching employee donations to its key community partners Foodbank Australia, the Australian Red Cross and WWF.

It has committed to giving $500,000 to local community services along with home loan customers affected by the fires and a further contribution to Tennis Australia’s “Aces for Bushfire Relief” initiative running through the Australian Open. 

Other support form ANZ includes deployed mobile ATMs at certain local centres and extra cash provisions for communities bordering regions affected by fire, as well as extended special leave for employees who volunteer in emergency services.

CBA

On the other hand, CBA has committed to making $750,000 worth of grants to help replace community facilities lost in the fires, as well as giving a further $250,000 to the Australian Red Cross. 

The relief grants will each provide up to $20,000 to assist with the replacement and repair of lost or damaged facilities. Community organisations, schools and local fire brigades have been invited to register for support through CBA’s website from Friday, with registrations open until 14 February.

CBA has also extended its Emergency Assistance Package to all volunteer firefighters, previously offered to personal and business customers, which will see them receive benefits such as loan restructuring and waiving of selected fees and charges. 

The institution will also be accepting donations to the Red Cross in all branches, as well as in the CommBank app. 

‘Urgent assistance is needed’

All of the banks have established financial relief packages for customers – with CBA extending its scheme to all volunteer firefighters.

David Lindberg, chief executive, consumer division at Westpac said the bank’s $1.5 million fund will offer practical help on the ground. 

“Urgent assistance is what is needed as many of our customers and communities are facing unprecedented devastation, uncertain futures for their homes, families, businesses and for many, their livelihood,” Mr Lindberg said.

“We are also committed to helping communities recover over the longer term.”

Many to face financial hardship

Meanwhile the Australian Financial Complaints Authority (AFCA) has established an online bushfire support information hub – explaining the financial recovery support the agency can provide to families and small businesses that have been affected.

Rob Guest, executive general manager of customer service & resolution at AFCA has said the body will work with consumers to get insurance and financial claims processed. 

He expects many people will find themselves suddenly facing financial hardship.

“Many thousands of people have been affected – homes destroyed, people who can’t access their cash or who have lost their credit cards, or who can’t make loan repayments because they have no job to go to anymore,” Mr Guest said.

“Small businesses will have been lost or be currently inoperable.”

The bushfire support hub is online at AFCA’s website.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "275" ["created"]=> string(19) "2020-01-08 01:25:57" ["created_by"]=> string(2) "64" ["created_by_alias"]=> string(14) "Sarah Simpkins" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-08 01:39:27" ["modified_by"]=> string(4) "2384" ["modified_by_name"]=> string(16) "Cameron Micallef" ["publish_up"]=> string(19) "2020-01-08 01:25:53" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(237) "{"image_intro":"images\/article-826x550\/Big4-Banks-au-ne.jpg","float_intro":"","image_intro_alt":"NAB CBA ANZ Westpac","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(747) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"1","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(33) "major, banks, rush, bushfire, aid" ["metadesc"]=> string(200) "The big four banks have committed to donating a collective $8. 5 million to bushfire recovery efforts. Both CBA and ANZ have each pledged to give $1 million while Westpac, after being rocked with its " ["access"]=> string(1) "1" ["hits"]=> string(3) "327" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "5710" ["ordering"]=> string(1) "5" ["category_title"]=> string(7) "Banking" ["category_route"]=> string(20) "borrow-money/banking" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "banking" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "18" ["author"]=> string(14) "Sarah Simpkins" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2575 (3) { ["data":protected]=> object(stdClass)#2578 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-01-08 01:25:53" ["slug"]=> string(38) "14389:major-banks-rush-to-bushfire-aid" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#2682 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(123) "

The big four banks have committed to donating a collective $8.5 million to bushfire recovery efforts.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2710 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2656 (3) { ["data":protected]=> object(stdClass)#571 (1) { ["options"]=> object(stdClass)#2660 (2) { ["options0"]=> object(stdClass)#2661 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2657 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2658 (3) { ["data":protected]=> object(stdClass)#2664 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(54) "/borrow-money/banking/major-banks-rush-to-bushfire-aid" ["image"]=> string(43) "images/article-826x550/Big4-Banks-au-ne.jpg" ["image_alt"]=> string(19) "NAB CBA ANZ Westpac" } [1]=> object(stdClass)#2551 (58) { ["id"]=> string(5) "14386" ["title"]=> string(56) "Employment trend indicative of further cash rate decline" ["alias"]=> string(56) "employment-trend-indicative-of-further-cash-rate-decline" ["introtext"]=> string(194) "

Progress towards full employment has stalled in the last six months, according to an economist who expects a flow-on effect to be reflected in changes to the cash rate in coming months.

" ["fulltext"]=> string(877) "

Commenting on ABS Labour Force data at the end of last year, Dr Sarah Hunter, BIS Oxford Economics’ chief economist, said that looking at the labour market’s underlying trends, the workforce participation rate has fallen back as unemployment rates and underemployment rates both plateaued.

She forecast that wage growth is unlikely to reach 3 per cent year-on-year in the next 12 to 18 months, limiting the upward pressure on price inflation, and suggesting “a softer pace of growth in employment in the near term”.

As a result, Dr Hunter said she expects the Reserve Bank of Australia to cut the cash rate again early in 2020, taking it to 0.5 per cent.

“And if there are signs that conditions are deteriorating, we would expect the RBA board to implement further loosening (possibly including quantitative easing),” she concluded.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "275" ["created"]=> string(19) "2020-01-07 01:20:59" ["created_by"]=> string(4) "2386" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-07 01:23:02" ["modified_by"]=> string(4) "2385" ["modified_by_name"]=> string(14) "Justine Nifras" ["publish_up"]=> string(19) "2020-01-07 01:20:53" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(228) "{"image_intro":"images\/article-826x550\/jobs-ad-ne.jpg","float_intro":"","image_intro_alt":"Employment trend","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(747) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"1","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(46) "cash rate, employment, figures, analysis, 2020" ["metadesc"]=> string(185) "Progress towards full employment has stalled in the last six months, according to an economist who expects a flow-on effect to be reflected in changes to the cash rate in coming months." ["access"]=> string(1) "1" ["hits"]=> string(3) "188" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(3) "877" ["ordering"]=> string(1) "6" ["category_title"]=> string(7) "Banking" ["category_route"]=> string(20) "borrow-money/banking" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "banking" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "18" ["author"]=> string(12) "Grace Ormsby" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2577 (3) { ["data":protected]=> object(stdClass)#2580 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-01-07 01:20:53" ["slug"]=> string(62) "14386:employment-trend-indicative-of-further-cash-rate-decline" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#2686 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(194) "

Progress towards full employment has stalled in the last six months, according to an economist who expects a flow-on effect to be reflected in changes to the cash rate in coming months.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2712 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2656 (3) { ["data":protected]=> object(stdClass)#571 (1) { ["options"]=> object(stdClass)#2660 (2) { ["options0"]=> object(stdClass)#2661 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2657 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2658 (3) { ["data":protected]=> object(stdClass)#2664 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(78) "/borrow-money/banking/employment-trend-indicative-of-further-cash-rate-decline" ["image"]=> string(37) "images/article-826x550/jobs-ad-ne.jpg" ["image_alt"]=> string(16) "Employment trend" } [2]=> object(stdClass)#2557 (58) { ["id"]=> string(5) "14379" ["title"]=> string(31) "Open banking launch pushed back" ["alias"]=> string(31) "open-banking-launch-pushed-back" ["introtext"]=> string(197) "

Testing for the new open banking regime will not be completed by its original planned date of February, with the ACCC delaying the deadline for the big four to share consumer data to July.

" ["fulltext"]=> string(2196) "

Banking is set to be the first sector to share information under the government’s recently introduced consumer data right (CDR) legislation. 

The Australian Consumer and Competition Commission (ACCC) released its first draft rules for the regime in September, detailing a phased rollout of customer data sharing and product reference data across all banks over a two-year period.

But the consumer watchdog has warned that it will not be able to complete “sufficient” testing for a February launch.

As a result, the implementation timeline has been adjusted, with the four major banks now being obligated to share consumer data from 1 July, including information relating to credit and debit cards, deposit accounts and transaction accounts.

The big four’s prior July deadline to share customer data relating to mortgage and personal loan accounts has also been pushed back, now taking place from 1 November.

However, conditions around sharing product data have remained unchanged. The major banks will be required to share product reference data for credit and debit cards, deposit accounts, transaction accounts, mortgage and personal loan accounts from February.

The major institutions will also be obliged to share more complex data sets around joint accounts, closed accounts, direct debits and scheduled payments from November.

The non-major banks on the other hand will still be required to share product data for credit and debit cards, deposit accounts and transaction accounts from July.

The ACCC said it will update the CDR rules to reflect the changes. It has also promised further consideration to the timing of implementation by the non-major banks and the onboarding of additional accredited data recipients in the first quarter of 2020.

Entities other than the major banks, who choose to enter the scheme early by becoming an accredited data recipient, will not be obliged to commence sharing consumer data prior to November. But the regulator has suggested the deadline could change.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "275" ["created"]=> string(19) "2020-01-07 01:20:45" ["created_by"]=> string(4) "2386" ["created_by_alias"]=> string(14) "Sarah Simpkins" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-15 01:41:17" ["modified_by"]=> string(4) "2387" ["modified_by_name"]=> string(14) "Jemelle Blanco" ["publish_up"]=> string(19) "2020-01-07 01:20:39" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(250) "{"image_intro":"images\/article-826x550\/network-people-ne.jpg","float_intro":"","image_intro_alt":"Open banking launch pushed back","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(851) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"1","canonical_link":"https:\/\/www.fintechbusiness.com\/data\/1621-open-banking-launch-pushed-to-july"}" ["metadata"]=> string(83) "{"robots":"noindex, follow","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(45) "ACCC, open banking, government, data, fintech" ["metadesc"]=> string(188) "Testing for the new open banking regime will not be completed by its original planned date of February, with the ACCC delaying the deadline for the big four to share consumer data to July." ["access"]=> string(1) "1" ["hits"]=> string(3) "230" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "2196" ["ordering"]=> string(1) "7" ["category_title"]=> string(7) "Banking" ["category_route"]=> string(20) "borrow-money/banking" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "banking" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "18" ["author"]=> string(14) "Sarah Simpkins" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2579 (3) { ["data":protected]=> object(stdClass)#2582 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2020-01-07 01:20:39" ["slug"]=> string(37) "14379:open-banking-launch-pushed-back" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(11) "275:banking" ["event"]=> object(stdClass)#2668 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(197) "

Testing for the new open banking regime will not be completed by its original planned date of February, with the ACCC delaying the deadline for the big four to share consumer data to July.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2714 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2656 (3) { ["data":protected]=> object(stdClass)#571 (1) { ["options"]=> object(stdClass)#2660 (2) { ["options0"]=> object(stdClass)#2661 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2657 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2658 (3) { ["data":protected]=> object(stdClass)#2664 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(53) "/borrow-money/banking/open-banking-launch-pushed-back" ["image"]=> string(44) "images/article-826x550/network-people-ne.jpg" ["image_alt"]=> string(31) "Open banking launch pushed back" } [3]=> object(stdClass)#2558 (58) { ["id"]=> string(5) "14028" ["title"]=> string(52) "Top 10 Australian suburbs with the highest mortgages" ["alias"]=> string(52) "top-10-australian-suburbs-with-the-highest-mortgages" ["introtext"]=> string(231) "

INFOGRAPHIC: Australia’s property boom prompted many people to take out home loans and buy residential or investment properties in spite of high property prices – only to be followed by a market downturn.

" ["fulltext"]=> string(3211) "

The highest losses were recorded in Perth, Western Australia, where the suburbs of Tapping and Merriwa have already seen $3.1 million and $3.7 million loss, respectively.

Tapping reported 313 households risking default among its 6,793 households in stress, while 216 households risk defaulting among Merriwa’s 5,218 financially stressed households.

Tapping takes the third spot for the suburbs with highest mortgages, while Merriwa places seventh.

Only one Queensland suburb made it to the list, but Harrisstown in Toowoomba takes the fourth spot with $2.9 million in losses.

The ABS recorded 6,534 stressed households in Harristown, among which 277 already risk defaulting. 

The remaining five suburbs are all located in Victoria and have a combined loss of $13.4 million.

The Melbourne suburbs of Berwick and Narre Warren South take the fifth and sixth spots in the list with 156 and 188 households at risk of defaulting, respectively. The number of households in stress are high in both suburbs, with 5,959 in Berwick and 5,954 in Narre Warren South.

Sydenham and Pakenham, on the other hand, take the bottom two spots with 5,066 and 4,915 households in stress, respectively. Among them, Sydenham recorded 173 households risking default and Pakenham reported 189.

The final VIC suburb is Ballarat East in Ballarat, where there are more households at risk of defaulting than stressed ones. Ballarat East revealed a staggering 5,147 households at risk of default and 5,073 households in stress.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "277" ["created"]=> string(19) "2019-12-29 21:25:30" ["created_by"]=> string(4) "2338" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-15 06:44:19" ["modified_by"]=> string(4) "2387" ["modified_by_name"]=> string(14) "Jemelle Blanco" ["publish_up"]=> string(19) "2019-12-30 00:17:25" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(278) "{"image_intro":"images\/article-826x550\/sydney-australia-suburbs.jpg","float_intro":"","image_intro_alt":"Top 10 Australian suburbs with the highest mortgages","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(793) "{"article_layout":"momentum:neinfographic","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"3","canonical_link":""}" ["metadata"]=> string(120) "{"robots":"","author":"","rights":"","xreference":"","metatitle":"Top 10 Australian suburbs with the highest mortgages"}" ["metakey"]=> string(44) "top, australian, suburbs, highest, mortgages" ["metadesc"]=> string(164) "The property market downturn since 2017 has led to increased financial stress for households with high mortgages. Find out which suburbs have the highest mortgages." ["access"]=> string(1) "1" ["hits"]=> string(3) "466" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "3211" ["ordering"]=> string(2) "29" ["category_title"]=> string(5) "Loans" ["category_route"]=> string(18) "borrow-money/loans" ["category_access"]=> string(1) "1" ["category_alias"]=> string(5) "loans" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "22" ["author"]=> string(11) "Louise Chan" ["author_email"]=> string(31) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2581 (3) { ["data":protected]=> object(stdClass)#2584 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2019-12-30 00:17:25" ["slug"]=> string(58) "14028:top-10-australian-suburbs-with-the-highest-mortgages" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(9) "277:loans" ["event"]=> object(stdClass)#2705 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(231) "

INFOGRAPHIC: Australia’s property boom prompted many people to take out home loans and buy residential or investment properties in spite of high property prices – only to be followed by a market downturn.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2716 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2699 (3) { ["data":protected]=> object(stdClass)#2667 (1) { ["options"]=> object(stdClass)#2703 (2) { ["options0"]=> object(stdClass)#2704 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2700 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2701 (3) { ["data":protected]=> object(stdClass)#2687 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(72) "/borrow-money/loans/top-10-australian-suburbs-with-the-highest-mortgages" ["image"]=> string(51) "images/article-826x550/sydney-australia-suburbs.jpg" ["image_alt"]=> string(52) "Top 10 Australian suburbs with the highest mortgages" } [4]=> object(stdClass)#2559 (58) { ["id"]=> string(5) "14340" ["title"]=> string(47) "What to consider when evaluating a payday loan?" ["alias"]=> string(46) "what-to-consider-when-evaluating-a-payday-loan" ["introtext"]=> string(313) "

Payday loans are easy-to-access short-term loans that even people with bad credit scores may get approved for – but this convenience comes at a high cost.

" ["fulltext"]=> string(4926) "

Before applying for one, you need to consider if you can afford the repayments given your financial circumstances and whether there are better options available.

Are payday loans bad for your credit?

When it comes to your credit score, a payday loan is just like any consumer debt – it’s harmless if you pay your balance on time, but it’s damaging if you miss repayments or default on the loan.

Can I get a payday loan with bad credit?
You may get approved for a payday loan despite a bad credit score – some lenders offer their loans specifically for this market.

However, getting a payday loan isn’t advisable because this may make your financial circumstances worse in the long run, especially if your income isn’t stable enough to consistently meet repayments.

When should you get a payday loan?

Payday loans have high fees and interest rates despite the government-enforced caps. If you’re experiencing financial constraints before the loan, you may end up financially distressed when you apply for one.

However, you may get a loan if the terms are fair and you can afford to pay it back in full and on time. Just make sure that the loan you’re applying for exhibits the following:

• Lender is licensed and easy to contact
  The government requires entities that deal with debt products to secure a licence, so make sure that the lender is licensed to offer a payday loan. Likewise, they should be easy to contact should you need to complain or request a change in your loan terms.
  
  
• Information materials (i.e. website, brochures) provide clear information
  Many Aussies have become financially distressed due to shady lenders who hide crucial information about the payday loan they offer. Some have even ended up having to pay three to four times the loan amount.
  
  Make sure all the information you need to make an informed decision are stated clearly and the lender is willing to answer any question you may have about the loan.
  
  
• Loan terms and amount are appropriate to your circumstances
  The law requires lenders to ensure that borrowers are only approved for loans that are appropriate to their financial circumstances. Make sure that the terms of the loan are proportional to the amount you’re borrowing.
  
  
• Loan transfer has an acceptable turnaround time
  Payday loans usually have a quick turnaround, but it still pays to make sure that you’ll get the money you borrowed when you need it.

How do I pay back a payday loan?

Payday loans are paid through direct debit from the transaction account you provide the lender. This process is automatic, so you only need to ensure that you have enough money in your account.

If your financial circumstances change for the better and you want to make extra repayments, you may contact the lender to arrange the new debit amount – provided that this is allowed.

Likewise, you need to contact the lender if you have difficulty with repayments so that you can agree on a lower repayment amount. But if the lender refuses or you can’t agree on a lower amount, consider seeking advice from your state or territory’s external dispute resolution.

Payday loans v other forms of debt

If you really need to borrow money, consider other forms of debt first before applying for a payday loan.

Payday loan v other loans
There are a variety of other loans you may choose from depending on your needs.

You may be better off with a personal loan for specific or multi-use if your credit score is satisfactory because these usually offer lower rates compared with payday loans.

Payday loans v credit card
Both payday loans and credit cards are forms of high-interest debt. The main difference is that payday loans are one-time debt while credit cards offer a line of credit that you may use repeatedly.

Payday loan interest rates can put you at a greater financial disadvantage compared with credit card interest rates, but both can put you in deep financial stress if you’re unable to make repayments.

Payday loans v cash advance 
A cash advance is a cash loan you get by withdrawing money from an ATM using your credit card and the amount you withdraw typically attracts a cash advance fee and higher interest rate.

Cash advances usually have a lower credit limit compared with payday loans, but the repayment term isn’t as strict as payday loans. That is, you’re required to start paying as soon as your next payday with payday loans, but cash advances may allow you to carry the debt longer even with minimum repayments.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "273" ["created"]=> string(19) "2019-12-27 23:28:03" ["created_by"]=> string(4) "2338" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-15 05:13:06" ["modified_by"]=> string(4) "2387" ["modified_by_name"]=> string(14) "Jemelle Blanco" ["publish_up"]=> string(19) "2019-12-27 23:28:00" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(189) "{"image_intro":"images\/debt.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(771) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"1","canonical_link":""}" ["metadata"]=> string(115) "{"robots":"","author":"","rights":"","xreference":"","metatitle":"What to consider when evaluating a payday loan?"}" ["metakey"]=> string(24) "evaluating, payday, loan" ["metadesc"]=> string(165) "Taking out a payday loan is fast and easy, but this convenience can be more costly if you don’t evaluate your options properly. Here’s what you need to consider." ["access"]=> string(1) "1" ["hits"]=> string(3) "299" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "4926" ["ordering"]=> string(1) "0" ["category_title"]=> string(12) "Payday loans" ["category_route"]=> string(25) "borrow-money/payday-loans" ["category_access"]=> string(1) "1" ["category_alias"]=> string(12) "payday-loans" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "14" ["author"]=> string(11) "Louise Chan" ["author_email"]=> string(31) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2583 (3) { ["data":protected]=> object(stdClass)#2586 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2019-12-27 23:28:00" ["slug"]=> string(52) "14340:what-to-consider-when-evaluating-a-payday-loan" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(16) "273:payday-loans" ["event"]=> object(stdClass)#2707 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(313) "

Payday loans are easy-to-access short-term loans that even people with bad credit scores may get approved for – but this convenience comes at a high cost.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2694 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2726 (3) { ["data":protected]=> object(stdClass)#2648 (1) { ["options"]=> object(stdClass)#2730 (2) { ["options0"]=> object(stdClass)#2731 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2727 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2728 (3) { ["data":protected]=> object(stdClass)#2698 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(73) "/borrow-money/payday-loans/what-to-consider-when-evaluating-a-payday-loan" ["image"]=> string(15) "images/debt.jpg" ["image_alt"]=> string(0) "" } [5]=> object(stdClass)#2560 (58) { ["id"]=> string(5) "14129" ["title"]=> string(77) "Personal loans - the difference in borrowing from banks v alternative lenders" ["alias"]=> string(75) "personal-loans-the-difference-in-borrowing-from-banks-v-alternative-lenders" ["introtext"]=> string(172) "

There used to be a time when people who needed to secure funding through a loan are limited to traditional financial institutions like banks and family or friends.

" ["fulltext"]=> string(4037) "

But the rise of technology has opened up more ways for borrowers to secure the money they need outside of traditional institutions.

Here’s a quick round-up of the difference between banks and alternative lenders.

Eligibility requirements

• Borrowing from banks requires a borrower to satisfy all the criteria in order to secure their loan – any unsatisfied criterion may affect the loan terms or lead to rejection.
  
  One such requirement is a good credit score, which may determine whether a personal loan from a bank will get approved. A low credit score, on the other hand, may result in less favourable loan terms or outright rejection.
  
  
• Borrowing from alternative lenders gives borrowers a higher probability of getting approved for their loan. Non-bank and institutional lenders typically have similar eligibility requirements, but what differentiates the two is that alternative lenders are more lenient.
  
  That is, even borrowers with a bad credit score are given the opportunity to borrow money under certain conditions instead of simply being rejected.

Processing time

• Banks usually have a lengthy loan application process and may take any time from two weeks to a month to process the application. This will involve providing additional documents and an interview with the borrower or their guarantor.
  
  If the loan is approved, it will take another few days to two weeks before the money is released.
  
  
• Alternative lenders usually have a streamlined application process and can be accessed anywhere through the internet. Borrowers simply need to upload or email the requirements the lender needs in order to analyse their qualification.
  
  If the loan is approved, borrowers can receive the funds within three to five days – with some even offering a same-day release.

Interest rates

• Banks offer some of the lowest published interest rates, but the interest rate a borrower is given depends on their qualifications – and their credit score is a big influence.
  
  Borrowers with bad credit scores may have their loan application rejected outright.
  
  
• Alternative lenders charge lower rates to those with good, established credit records. Advertised rates are likely to be available to those with good credit scores, reliable incomes and steady jobs.
  
  However, borrowers with bad credit scores are also allowed to apply for a loan – only that they may have to accept higher interest rates.

Fees

Both institutional and non-bank lenders charge fees for loans, but most of the fees, such as origination and management fees, are common.

What makes the two different is that banks typically charge upfront fees even without any guarantee of being approved for the loan. Borrowers have a higher chance of getting approved with alternative lenders, and loans with high interest rates tend to have inexpensive upfront fees.

Alternative lenders now compete with traditional banks because of the growing number of borrowers that seek funding from non-banks. These types of lenders offer convenience and easier access to funding because of fewer eligibility requirements.

But just because many borrowers access funding outside of traditional institutions doesn’t mean it’s the better option. Both lenders have an advantage over the other in some aspects, so it’s important to identify their differences to understand when to approach one over the other.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "277" ["created"]=> string(19) "2019-12-23 00:51:36" ["created_by"]=> string(4) "2338" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2020-01-15 07:36:01" ["modified_by"]=> string(4) "2387" ["modified_by_name"]=> string(14) "Jemelle Blanco" ["publish_up"]=> string(19) "2019-12-23 00:51:31" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(249) "{"image_intro":"images\/article-826x550\/australian-cash-wallet-holding-ne.jpg","float_intro":"","image_intro_alt":"Personal loans","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(771) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","show_publishing_options":"","show_article_options":"","show_urls_images_backend":"","show_urls_images_frontend":"","sent":"0","readingDiff":"2","canonical_link":""}" ["metadata"]=> string(145) "{"robots":"","author":"","rights":"","xreference":"","metatitle":"Personal loans - the difference in borrowing from banks v alternative lenders"}" ["metakey"]=> string(67) "personal, loans, difference, borrowing, banks, alternative, lenders" ["metadesc"]=> string(174) "There are now more options for borrowers to secure personal loans, but what’s the difference between borrowing from banks and alternative lenders? Here’s how they differ." ["access"]=> string(1) "1" ["hits"]=> string(3) "453" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "4037" ["ordering"]=> string(2) "16" ["category_title"]=> string(5) "Loans" ["category_route"]=> string(18) "borrow-money/loans" ["category_access"]=> string(1) "1" ["category_alias"]=> string(5) "loans" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "22" ["author"]=> string(11) "Louise Chan" ["author_email"]=> string(31) "[email protected]" ["parent_title"]=> string(6) "Borrow" ["parent_id"]=> string(3) "271" ["parent_route"]=> string(12) "borrow-money" ["parent_alias"]=> string(12) "borrow-money" ["rating"]=> string(1) "0" ["rating_count"]=> string(1) "0" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#2585 (3) { ["data":protected]=> object(stdClass)#2588 (96) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["list_show_votes"]=> string(1) "0" ["list_show_ratings"]=> string(1) "0" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(66) "Borrow Money - Your Guide to Loans and Credit Management | nestegg" ["menu-meta_description"]=> string(138) "Finance, credit and debt feel like a minefield? From financing a credit card debt to deciding on a home loan, Nest Egg’s got your back! " ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2019-12-23 00:51:31" ["slug"]=> string(81) "14129:personal-loans-the-difference-in-borrowing-from-banks-v-alternative-lenders" ["parent_slug"]=> string(16) "271:borrow-money" ["catslug"]=> string(9) "277:loans" ["event"]=> object(stdClass)#2695 (3) { ["afterDisplayTitle"]=> string(0) "" ["beforeDisplayContent"]=> string(417) "" ["afterDisplayContent"]=> string(0) "" } ["text"]=> string(172) "

There used to be a time when people who needed to secure funding through a loan are limited to traditional financial institutions like banks and family or friends.

" ["jcfields"]=> array(1) { [1]=> object(stdClass)#2696 (32) { ["id"]=> string(1) "1" ["title"]=> string(17) "Automatic tagging" ["name"]=> string(17) "automatic-tagging" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["note"]=> string(0) "" ["state"]=> string(1) "1" ["access"]=> string(1) "1" ["created_time"]=> string(19) "2018-08-29 05:26:30" ["created_user_id"]=> string(4) "2355" ["ordering"]=> string(1) "0" ["language"]=> string(1) "*" ["fieldparams"]=> object(Joomla\Registry\Registry)#2699 (3) { ["data":protected]=> object(stdClass)#2667 (1) { ["options"]=> object(stdClass)#2703 (2) { ["options0"]=> object(stdClass)#2704 (2) { ["name"]=> string(3) "Yes" ["value"]=> string(1) "1" } ["options1"]=> object(stdClass)#2700 (2) { ["name"]=> string(2) "No" ["value"]=> string(1) "0" } } } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["params"]=> object(Joomla\Registry\Registry)#2701 (3) { ["data":protected]=> object(stdClass)#2687 (6) { ["hint"]=> string(0) "" ["render_class"]=> string(7) "autotag" ["class"]=> string(9) "btn-group" ["showlabel"]=> string(1) "0" ["show_on"]=> string(1) "2" ["display"]=> string(1) "2" } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["type"]=> string(5) "radio" ["default_value"]=> string(1) "1" ["context"]=> string(19) "com_content.article" ["group_id"]=> string(1) "1" ["label"]=> string(17) "Automatic tagging" ["description"]=> string(51) "Automatic tagging of article base on title keywords" ["required"]=> string(1) "0" ["language_title"]=> NULL ["language_image"]=> NULL ["editor"]=> NULL ["access_level"]=> string(6) "Public" ["author_name"]=> string(17) "Celeste Fernandez" ["group_title"]=> string(4) "Tags" ["group_access"]=> string(1) "1" ["group_state"]=> string(1) "1" ["group_note"]=> string(0) "" ["value"]=> string(0) "" ["rawvalue"]=> string(1) "1" } } ["link"]=> string(95) "/borrow-money/loans/personal-loans-the-difference-in-borrowing-from-banks-v-alternative-lenders" ["image"]=> string(60) "images/article-826x550/australian-cash-wallet-holding-ne.jpg" ["image_alt"]=> string(14) "Personal loans" } }