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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%*)

Shad of the Day, 15 January 2023

Shah of the Day, 15th January 2023.

This ad comes from a lead generation group, so we can't expect compliance or quality.

What's the problem? There are many, including the erroneous 'You Qualify' message with the baiting quiz.

RG 234

Warnings, disclaimers and qualifications should have sufficient prominence to effectively convey key information to a reasonable member of the audience on first viewing the advertisement.

RG 234.37

An advertisement should not contain an open-ended promise about a benefit if it is likely that circumstances will change so that the promise will become misleading. It is important to remember that an advertisement may create a lasting impression in consumers' minds.

RG 234.47

The more that a qualification is required to balance the information contained in the headline claim, the more prominently placed the qualification should be. The headline claim must not itself be misleading.

RG 234.51

If a qualification is required, it must be published at the same time as the original message. Subsequent qualifying disclosures will not be effective as the misleading impression will already have been created.

RG 234.67

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 (s164, National Credit Code). One example provided: a comparison rate is smaller in size or faded in colour when compared to the interest rate.

RG 234.69

A comparison rate in an advertisement must be accompanied by a warning about the accuracy of the comparison rate and that the comparison rate is accurate only for the example given in the advertisement (s163, National Credit Code; reg 99, National Credit Regulations).

Substantiation notices refer to claims or representations made when promoting financial services, and any quantitative or definitive statement presented as a promise or fact must be qualified by way of basic qualifying criteria in the actual advert.

The quiz returns results in a manner consistent with false advertising. It is a baiting exercise.

The list goes on.

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