Target Market Determinations
Who are our products made for?
As an Issuer and Distributor of financial products, we are required to comply with Design and Distribution Obligations. This means that we must identify an appropriate target market and take reasonable steps to ensure that our products meet the needs of this defined target market.
In the table below you will find our Target Market Determinations for each product, which outline:
- The class of customers who comprise the product’s target market
- Any conditions and restrictions on how the product can be distributed to customers
- Events or circumstances that will require Hume Bank to review the Target Market Determination for a financial product.
- Information that third party distributors must provide Hume Bank (for some products)
As always, we are committed to providing you with products or services tailored to suit your needs. Please note that a Target Market Determination does not replace the Terms and Conditions or Disclosures made in a Product Disclosure Statement (PDS). You should continue to refer to the PDS before deciding on what a financial product will best suit your needs.
Which products and services are covered by these obligations?
| Hume Bank products | Third-party products | ||
| Personal transactions and savings accounts | Personal credit cards and loans | Business accounts and credit | Travel and Insurance |
| All purpose account | Hume Clear Visa credit card | Business account | Cash Passport Platinum Mastercard |
| Clancy Koala account | Hume Value Visa credit card | Business iSave account | |
| Essential account | liteBlue Variable Rate home loan | Business Visa credit card | |
| Flexible loan offset account | myBlue Fixed Rate home loan | Business performance bank guarantees | |
| iSave account | myBlue Variable Rate home loan | Community Link account | |
| Retirement account | Personal line of credit | Farm Management Deposit account | |
| Reward Saver account | Secured personal loan account | Professional Cash Management account | |
| Term deposit | Standard Variable Rate home loan account | Self-managed super fund loan account | |
| Unsecured Personal Loan Account | Tax Manager account | ||
| Professional Trust account | |||
The following products are not subject to the Design and Distribution Obligations, however you can rest easy knowing that care and consideration is taken by the Hume Bank team when providing any financial advice.
- Compulsory Third Party Greenslip
- Foreign Currency
- Business finance products