Gateway Bank wins Australia’s Best Small Mutual Bank award
Over the years, we’ve seen a rise in mutual banks as an alternative to big banks. And now Gateway Bank has been recognised as one of the best choices, winning the Best Small Mutual Bank award.
This year, our panel of expert judges assessed and analysed 90 banking providers to determine who is the cream of the crop, offering the most outstanding value across a wide range of products. The best were crowned the 2022 Mozo Experts Choice Best Banking Award winners.
“Gateway Bank was outstanding over the last year, with awards for home loans, personal loans, savings accounts and term deposits, making them an obvious choice as one of the winners in these awards,” Mozo’s banking expert and awards judge Peter Marshall said.
“While others in our ‘Small Mutual’ category won several awards, they did not have the breadth and consistency achieved by Gateway Bank.”
Check out some of the award winner products available at Gateway Bank for home loans, youth savings account for 16-year-olds and under, and used car loans below.
Gateway Bank - Variable Rate Home Loan (Premium Package)
- 2022 Mozo Experts Choice Award winner
- Variable rates from 2.89% p.a. (3.22% p.a. comparison rate*)
- $0 application fee
With a competitive variable interest rate from 2.89% p.a. (3.22% p.a. comparison rate*) Gateway Bank’s Variable Rate Home Loan (Premium Package) provides a top-notch mortgage package that has earned it an award in the Offset Home Loan category for the 2022 Mozo Experts Choice Home Loan Awards. The loan comes with an offset account and free extra repayments. It also comes with a redraw facility but be aware that there is a $500 minimum redraw amount. While there are no upfront fees, you will need to budget for its yearly $299 service fee and a $300 discharge fee when you finish paying off your loan.
Gateway Bank - Dollaroo Savings
- Available only for ages 16 and under
- Competitive interest rate of 1.50% p.a.
- 2022 Mozo Experts Choice Savings Account Award winner
Gateway Bank’s Dollaroo Savings won in the Pocket Money Saver category in the 2022 Mozo Experts Choice Savings Account Awards for its competitive 1.50% p.a. interest rate and features for kids 16 and under. The account has no requirements to earn its 1.50% p.a., and it has no ATM withdrawal fees and unlimited branch deposits. Also, there is no minimum balance needed to get started. However, keep in mind that interest is paid half-yearly instead of monthly.
Gateway Bank - Used Car Loan
- Interest rates from 5.99% p.a. (6.20% p.a. comparison rate*)
- 2022 Mozo Experts Choice Award Used Car Loan winner
- Free extra repayments and redraws
Gateway Bank’s Used Car Loan was crowned a 2022 Mozo Experts Choice Award Used Car Loan winner for its competitive interest rates from 5.99% p.a. (6.20% p.a. comparison rate*) and its flexible features. With loan amounts from $3,000 to $75,000, you can find a used car you love in no time. And with the nifty free extra repayment feature, you could pay your loan quicker. You can always use its free redraw facility if you need to dip back into your additional payments. While this loan comes with several handy features, keep in mind that it does have a $149 upfront fee you must budget for.
Curious about Australia’s best banks? Learn more details about our awards and judging process in our 2022 Australia's Best Banking methodology report.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
*** WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
^See information about the Mozo Experts Choice Australia’s Best Banking Awards
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