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Example Interest Rates: Home Loan Variable: 5.20% (5.24%*) • Home Loan Fixed: 5.48% (6.24%*) • Fixed: 5.48% (6.24%*) • Variable: 5.20% (5.24%*) • Investment IO: 5.74% (6.40%*) • Investment PI: 5.49% (6.32%*)

Instagram Post, 31 January 2023, 3:40 am

Shad of the Day, 31st January 2023. When you advertise 3.5% and 5k cashback, you had better provide qualification details.

A recap on some very basic principles (virtually all text sourced from ASIC).


"An advertised comparison rate must be identified as a comparison rate and the comparison rate must not be less prominent in an advertisement than any interest rate or the amount of any repayment stated in the advertisement: s164, National Credit Code.

We consider that the following examples would result in the comparison rate being less prominent than the advertised interest rate:

(a) a comparison rate is smaller in size or faded in colour when compared to the interest rate; or

(b) an interest rate is published online and a consumer is required to click through or additionally do something (such as move their cursor over the interest rate) to view the comparison rate; or

(c) the displayed comparison rate is not in close proximity to the displayed interest rate."

RG178 5

"Information in advertisements should be current (changes should be made in a week - is this rate current?) . Advertisers should be vigilant to ensure that advertisements are withdrawn if they are no longer up -to -date. Particular care should be taken for advertisements using media that is likely to date quickly."


"It is not necessary to show that consumers have actually been misled - the law prohibits conduct that is *likely* to mislead.

Consumers cannot be expected to study or revisit an advertisement - the most important consideration is the overall impression created by the advertisement when viewed for the first time

Qualifications of a headline claim must be clear and prominent - some headline claims are so strong that any separate qualification will not correct any misleading impression

Silence can be misleading or deceptive when it is reasonable for a consumer to expect disclosure of important information - silence on important details can render a statement misleading, even though it is factually correct."

Seriously - it's not hard to be a compliant operation.

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