Glossary

Glossary of terms and acronyms related to Australian banking, finance and investments.

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Annual fee

An annual fee is an ongoing fee charged to the borrower in a loan, as well as credit card holders, as payment for keeping their account active. Sometimes called administration or account keeping fees, they are charged every year throughout the duration of the loan. The fee is supposed to cover the cost of maintaining the borrower's account, and in the case of credit cards, the right to hold and use the card itself. Not all loans and credit cards have an annual fee; some banks will charge you separate annual fees for additional features.

Aussie MasterCard Credit Card

You don't need to be an Aussie customer

Citibank Clear Credit Card

Ongoing low interest rates

NAB Low Rate Visa Credit Card

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