The central benchmark interest rate in Australian financial
markets at which banks will lend to each other (via bank bills) for
periods of 6 months or less.
A process for individuals to be legally declared as being unable
to meet their debt obligations.
In investing, an index that can be used to evaluate the
performance of an investment.
Someone who will receive a benefit or asset in the event of the owner’s death.
Beneficiaries of a super fund
are the members, and their dependants (if the member dies).
Where the superannuation fund, in the event of
your death, must pay your superannuation benefit to your nominated
it would be unlawful to do so.
A share in a well-established company with a record of stable
earnings over a long period, typically a market leader or among the
top companies in its sector.
A medium to long-term investment issued by governments and
companies which pays a regular, fixed interest amount for the term
of the investment. The invested funds (the principal) are repaid at
the end of the term (maturity). See also fixed interest investments.
A person who arranges a contract between you and, for example,
an insurance or mortgage service provider. Brokers
usually receive a commission or fee for arranging a contract.
A fee charged by a broker for service.
A number that identifies a specific branch of a bank or other
financial institution within Australia. The BSB number plus an account number identifies a particular
Community-based financial institution usually owned by its
members that offers traditional banking services like savings
accounts and loans, listed on the APRA website as a building society.
Also called a mutual building society. See also credit union.
Last updated: 03 Jul 2015