Australia's Best Banks

At Mozo, we're passionate about getting Australians a better deal on their finances and the Australia's Best Awards provide a platform for us to highlight the banking providers and new products of 2016 which offer the best overall value to Australian consumers. Over 118 banks, credit unions and mutual banks were assessed for the inaugural Australia's Best Awards by Mozo's money experts.

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Experts choice awards hero 2016
Australia’s Best Bank

ME were the most successful bank in Mozo's Experts Choice awards over the last 12 months, picking up product awards for best value in home loans, credit cards, fee-free bank accounts, savings accounts and term deposits.

ME were the most successful bank in Mozo's Experts Choice Read more...

Australia’s Best Online Bank

UBank’s competitive home loans, savings accounts and term deposits made it the standout online bank of 2016 for customer value.

UBank’s competitive home loans, savings accounts and term Read more...

^ The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Australia’s Best Mutual Bank

Victoria Teachers Mutual Bank were recognised throughout the year for their home loans, personal loans, term deposits and travel money value, garnering more Experts Choice awards than any other Mutual Bank.

Victoria Teachers Mutual Bank were recognised throughout the Read more...

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Australia’s Best Credit Union

A well deserved place on the Australia’s Best Awards winners podium, Gateway Credit Union won Experts Choice awards for a range of personal banking products from home loans, fee-free bank accounts to personal loans.

A well deserved place on the Australia’s Best Awards winners Read more...

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Australia’s Best Major Bank

NAB ranked the best on low fees and competitive rates across the widest range of personal banking products of all the major banks.

NAB ranked the best on low fees and competitive rates across Read more...

^ The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Best Overall Value

In recognition of the strong showing of their products in the Experts Choice awards throughout the year, the following banks have also been awarded an Overall Value award.

In recognition of the strong showing of their products in Read more...

^ The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a home loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years, and applies only to this example. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

* 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 for the amounts and terms quoted, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans, and apply only to these examples. Different amounts and terms will result in different comparison rates. Full comparison rate schedules are available from lenders. Costs such as redraw fees or early repayment fees, and savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

Best New Products
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About the Mozo Experts Choice Awards

The Mozo Experts Choice Awards are an initiative from Mozo that recognises Australia's best value financial products and helps Australians to save money by choosing better products.

Experts Choice awards for single products - such as Home Loans, Credit Cards, etc - are awarded throughout the year to the top 10% of products that meet the selection criteria in each awards category.

Experts Choice Australia's Best awards and Experts Choice Overall Value awards are awarded to financial product providers as opposed to specific products. The awards aim to recognise banks and credit unions whose products have enjoyed success in the Experts Choice awards over the previous 12 months.

Experts Choice New Product awards are given to products launched in the previous 12 months that brought something innovative or different to the marketplace.

Mozo has been researching and comparing financial products since 2008, and hundreds of thousands of Australians use our comparison services each month. Our research team is headed by our Research & Insights Director and our Product Data Manager who have over 50 years of financial services experience and 21 years in online financial comparison.

More information on the methodology and awards criteria can be found here.