Personal Loan Awards 2019

Congratulations to the 2019 winners of the Mozo Experts Choice Awards for Personal Loans. Whether you’re looking for a loan to purchase a car, complete a home renovation or take that bucket list holiday, the Mozo Experts Choice winners list below is a great place to start your search for an amazing value loan.

Mozo Experts Choice Awards Badge

What are the Mozo Experts Choice Awards?

Now in their sixth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.

For the 2019 Personal Loan Awards, we analysed 286 personal lending products issued by 78 Australian financial institutions.

“Personal loans can be a great option if you need cash for a specific reason. But there are many factors to consider when determining the type of loan that’s right for you,” said Peter Marshall, Mozo Experts Choice Awards judge.  

“The winners of our Personal Loan Awards for 2019 are a great starting point in finding the ideal loan to complement your needs.“

For details on how we crunched the numbers and determined our winners see our 2019 Mozo Experts Choice Awards Personal Loans methodology report.


Personal Loan Provider of the Year


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MOVE Bank is our 2019 winner of the Personal Loan Provider of the Year.

Its Personal Loan Special was a winner in the Unsecured Personal Loan category and its New Car Loan took out an award in our New Car Loan category. As the only lender offering award-winning loans in both of these key categories in 2019, MOVE Bank is the obvious choice for our major award.


Unsecured Personal Loan


Most unsecured personal loans allow complete freedom of purpose and are fairly similar. Rates and fees can vary enormously, so for this category the judges identified those general purpose loans offering the best rate and fee combination.

In 2019, for the first time, this category also includes several loans where rates or fees vary depending on your credit score and other determining factors.

Car Loan


To find the cheapest car loan for buying a new car, Mozo’s money experts combed through 89 different personal loans and calculated the cost of a $30,000 new car loan including principal, interest, fees and charges repaid over 5 years.

Used Car Loan


Here’s the list of Mozo Experts Choice Award winners in our used car category for 2019. We compared all loans in our database to find the best value loans for used car borrowers. Calculations were based on a $15,000 loan including principal, interest, fees and charges repaid over 5 years.

Secured Personal Loan


If you’re in the market for a general purpose secured personal loan, the Mozo Experts Choice Award winners below are a great starting point.

Green Personal Loan


Thinking of borrowing for an environmentally friendly purpose, like solar panels or energy efficiency improvements for your home? We compared all loans in our database fitting this criteria, based on a $10,000 loan over 3 years.


Green Car Loan


If you’re searching for a low emission car and want a low rate car loan to match, check out the Mozo Experts Choice Award pick for best green car loan. Our experts assumed a $30,000 loan over 5 years when comparing costs.


Personal Line of Credit


We identified then compared all personal loans in the Mozo database that operate as lines of credit to find our Mozo Experts Choice Award winner. We calculated the cost of interest-only payments and fees for a $10,000 outstanding balance over 3 years.


Best New Personal Loan


The Unsecured Green Loan from Australian Military Bank was launched in September, and offers a great deal for people looking to purchase energy efficient hot water, battery storage, insulation, cooling/heating, water capture or recycling. It didn’t launch in time to win in our Green Personal Loan category, but it takes out our best new personal loan product award.



Frequently Asked Questions


What’s the Judging Criteria for the awards?

Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers.

See our methodology report for more detailed information on how we performed product comparisons and determined the final winners for the personal loan awards.

Did you compare all personal loans in the market for these awards?

In​ ​carrying​ ​out​ ​the​ ​Mozo​ ​Experts​ ​Choice​ ​Awards​ ​in​ ​Personal​ ​Loans,​ ​we analysed​ 286 ​personal​ ​loan​ ​products​ ​issued​ ​by 78 ​Australian​ ​financial institutions​ ​based​ ​on​ ​data​ ​contained​ ​in​ ​Mozo’s​ ​product​ ​database​ ​as​ ​at​ 30 September, 2019.

We​ ​aim​ ​to​ ​include​ ​most​ ​personal​ ​loan​ ​providers​ ​in​ ​the​ ​market​ ​in​ ​the​ ​Mozo Experts​ ​Choice​ ​Awards.​ ​However,​ ​not​ ​every​ ​personal​ ​loan​ ​product​ ​in​ ​the market​ ​will​ ​be​ ​included​ ​in​ ​our​ ​review.

Any​ ​personal​ ​loan​ ​product​ ​we​ ​review​ ​must​ ​be​ ​available​ ​in​ ​the​ ​market​ ​at the​ ​time​ ​of​ ​our​ ​analysis​ ​and​ ​any​ ​offers​ ​included​ ​must​ ​be​ ​available​ ​to​ ​the general​ ​public​ ​on​ ​the​ ​provider’s​ ​website.

Will I get the lowest interest rate advertised?

Not always. Some personal loan lenders have different interest rate tiers, depending on a customer’s credit history. Usually, the better your history, the lower your interest rate. The interest rate you receive could also depend on how much you intend to borrow and whether you get a secured or an unsecured loan.

Who are the Mozo experts?

The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost three decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.

I work for a personal loan provider, how do we promote our win?

Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.