Stats crunched by Mozo Experts
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3152Product Rankings
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50Award Categories
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6Award Winners
If you’re on the lookout for a great value banking provider, the Mozo Experts Choice Award winners list could be the golden ticket to finding your financial match!
Australia’s Best Banking awards showcase the banking providers that have consistently delivered the best value for money products and services to their customers over the past 12 months based on our expert research. Each winner ranked highly across a wide range of banking products and were awarded for outshining the competition in 2024.
Standout Winners
Australia’s Best Bank
ING has been crowned Australia’s Best Bank for 2024, having won a wide range of individual Mozo Experts Choice Awards throughout the past 12 months, including awards for their Packaged Home Loan, Exceptional Everyday Account, High Interest Savings, Term Deposit, No Annual Fee Credit Card, Platinum Cashback Credit Card and Personal Loan. They also won our Everyday & Savings Bank of the Year award, further highlighting their excellence in this category.
In identifying Australia's Best Bank, the judges were impressed by the breadth of their awards and also the general competitiveness of their products across all key areas of personal banking, winning this prestigious award for the second year running.
Congratulations to:
ING
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Orange Everyday
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, PayTo
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Savings Maximiser
- maximum rate
- 5.40% p.a. (for $0 to $100,000)
- standard interest rate
- 0.05% p.a.(for $0 and over)
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Savings Accelerator
- maximum rate
- 3.30% p.a. (for $0 to $50,000)
- standard interest rate
- 2.60% p.a.(for $0 to $50,000)
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Term Deposit
- interest rate
- 4.30% p.a.
- minimum deposit
- $10,000.00
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Orange Advantage (Package)
LVR<80%, Owner Occupier, Principal & Interest
- interest rate
- 5.89% p.a. variable
- comparison rate
- 6.18% p.a.
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Unsecured Personal Loan
Fixed
- interest rate
- 6.89% p.a.to 19.99% p.a.
- comparison rate
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7.17% p.a.to 20.31% p.a.based on $30,000
over 5 years
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Orange One Rewards Platinum Credit Card
- interest rate
- 16.99% p.a.
- rewards program
- Cashback Rewards
Australia's Best Customer Owned Bank
People's Choice Credit Union are this year's winner of Australia’s Best Customer Owned Bank, with Heritage Bank coming in second. People's Choice Credit Union and Heritage Bank merged in 2023 creating a national mutual offering a compelling alternative to the listed banks. Throughout the year People's Choice Credit Union also won the award for Home Lender of the Year and in addition they scored competitively with their savings, credit card and personal loan products.
Congratulations to:
Heritage Bank and People's Choice
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Discount Variable Home Loan
Owner Occupier, LVR<70%
- interest rate
- 5.74% p.a. variable
- comparison rate
- 5.76% p.a.
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Fixed Rate Loan (Home Advantage)
Owner Occupier, LVR<70%
- interest rate
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5.59% p.a.
fixed 3 years
- comparison rate
- 6.22% p.a.
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Car Loan
Up to 7 years old, Fixed, Secured
- interest rate
- 6.49% p.a.
- comparison rate
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6.84% p.a.based on $30,000
over 5 years
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Target Bonus
- maximum rate
- 4.15% p.a. (for $1 and over)
- standard interest rate
- 0.01% p.a.(for $1 and over)
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Term Deposit
- interest rate
- 4.25% p.a.
- minimum deposit
- $1,000.00
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Simply Access
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, Samsung Pay
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Basic Variable Home Loan
LVR<70%, Owner Occupier, Principal and Interest, >$150k
- interest rate
- 5.64% p.a. variable
- comparison rate
- 5.65% p.a.
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Fixed Rate Home Loan (Package)
LVR <80%, Owner Occupier, Principal & Interest
- interest rate
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5.59% p.a.
fixed 3 years
- comparison rate
- 6.06% p.a.
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Green Car Loan
Cars over $20K, Fixed, Secured
- interest rate
- 5.69% p.a.
- comparison rate
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6.04% p.a.based on $30,000
over 5 years
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Dream Fund
- maximum rate
- 4.90% p.a. (for $0 to $100,000)
- standard interest rate
- 0.01% p.a.(for $0 and over)
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Term Deposit
- interest rate
- 4.25% p.a.
- minimum deposit
- $5,000.00
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Everyday Account
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, Samsung Pay
Australia's Best Small Customer Owned Bank
Easy Street has been awarded Australia’s Best Small Customer Owned Bank award. Demonstrating the advantage of being a customer owned and online-only bank, offering a highly competitive selection of home loans, savings, credit cards and personal loans, they have taken out a combined five Mozo awards over the past 12 months.
Congratulations to:
Easy Street
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Bonus Saver Account
- maximum rate
- 4.85% p.a. (for $0 to $3,000,000)
- standard interest rate
- 0.01% p.a.(for $0 to $3,000,000)
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Easy Low Rate Visa Credit Card
- interest rate
- 8.99% p.a.
- annual fee
- $50.00
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Unsecured Personal Loan
Fixed
- interest rate
- 8.99% p.a.
- comparison rate
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10.02% p.a.based on $30,000
over 5 years
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Fixed Home Loan
Owner Occupier, Principal & Interest
- interest rate
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5.49% p.a.
fixed 3 years
- comparison rate
- 5.79% p.a.
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Street Smart Variable Home Loan
Principal & Interest
- interest rate
- 5.84% p.a. variable
- comparison rate
- 5.89% p.a.
Australia's Best Regional Customer Owned Bank
Regional Australia Bank is Australia’s Best Regional Customer Owned Bank, with branches spread across regional New South Wales. They offer an extensive range of products and services, including home loans, savings accounts,credit card and personal loans. Over the last year, the bank has also been recognised with four awards for its exceptional products.
Congratulations to:
Regional Australia Bank
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Savings Booster
- maximum rate
- 4.75% p.a. (for $0 to $250,000)
- standard interest rate
- 0% p.a.(for $0 and over)
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Term Deposit
- interest rate
- 4.40% p.a.
- minimum deposit
- $1,000.00
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Accelerator Car Loan (Variable, Secured)
Vehicle <5 years
- interest rate
- 6.74% p.a.
- comparison rate
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7.05% p.a.based on $10,000
over 3 years
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Fixed Home Loan
Owner Occupier, Principal & Interest, LVR <60%
- interest rate
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5.60% p.a.
fixed 3 years
- comparison rate
- 5.68% p.a.
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Your Choice Credit Card
- interest rate
- 14.69% p.a.
- annual fee
- $40.00
Australia’s Best Credit Union
Police Credit Union has been awarded Australia's Best Credit Union for their outstanding home loan offerings and excellent personal and car loans. Over the past 12 months, they have secured six awards, including Low Cost Home Loan, Offset Home Loan, Car Loan, Secured Personal Loan, Green Personal Loan Awards. These achievements make them a highly deserving winner.
Congratulations to:
Police Credit Union
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Term Deposit
- interest rate
- 3.60% p.a.
- minimum deposit
- $5,000.00
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RediAccess Account
- account fee
- $0.00
- payment options
- Apple Pay, Google Pay, PayID, Samsung Pay
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Focus Saver
- maximum rate
- 4.75% p.a. (for $200 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
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Extralite Credit Card
- interest rate
- 13.99% p.a.
- annual fee
- $0.00
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Low Rate Car Loan
Special Offer, Secured, Variable
- interest rate
- 6.48% p.a.
- comparison rate
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6.48% p.a.based on $30,000
over 5 years
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Low Rate Home Loan
Owner Occupier, Principal & Interest, LVR<80%
- interest rate
- 5.89% p.a. variable
- comparison rate
- 5.95% p.a.
Australia’s Best Major Bank
For those who prefer to bank with one of the ‘Big 4’ banks, the judges have awarded Commonwealth Bank as Australia’s Best Major Bank for 2024. Over the past 12 months, they have earned an impressive total of seven Mozo awards, recognising their excellence across various categories at the big end of town.
Congratulations to:
Commonwealth Bank
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Term Deposit
- interest rate
- 4.05% p.a.
- minimum deposit
- $5,000.00
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Smart Access
- account fee
- $4.00
- payment options
- Apple Pay, Google Pay, PayID, Samsung Pay, Garmin, Fitbit
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GoalSaver
- maximum rate
- 4.65% p.a. (for $0 and over)
- standard interest rate
- 0.35% p.a.(for $0 and over)
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Ultimate Awards Credit Card
- interest rate
- 20.99% p.a.
- rewards program
- Commonwealth Awards
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Secured Green Personal Loan
Fixed
- interest rate
- 6.19% p.a.
- comparison rate
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7.61% p.a.based on $30,000
over 5 years
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Extra Home Loan
LVR <60%, Owner Occupier, Principal & Interest
- interest rate
- 6.19% p.a. variable
- comparison rate
- 6.25% p.a.
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Standard Variable Rate (Wealth Package)
Owner Occupier, Principal & Interest, LVR <60%
- interest rate
- 6.09% p.a. variable
- comparison rate
- 6.46% p.a.
What are the Mozo Experts Choice Awards?
Now in their eleventh year, the Mozo Experts Choice Awards present an opportunity to highlight products in the market we believe offer great value to Australians.
In carrying out the Mozo Experts Choice Awards for Australia’s Best Banking 2024, we assessed 85 Authorised deposit taking institutions who won at least one banking Mozo Experts Choice Award in April 2023.
“There are a vast range of banks to pick from in Australia, and with so many options it can be very hard to figure out where you should do most of your banking,” said Mozo Experts Choice Awards Judge Peter Marshall.
“The Mozo judges work on finding the best banking products throughout each year looking at just one type of product at a time, then once a year they use that information to figure out which banks offer their customers the best deals overall, for everything from home loans, credit cards, personal loans, everyday bank accounts and savings accounts. So if you want to make sure you're getting a good deal, for all your banking needs, check out the winners of this year’s awards.”
For details on how we crunched the numbers and determined our winners, see the 2024 Mozo Experts Choice Australia’s Best Banking Awards methodology report.
Our Expert Judges
We couldn’t have a name like the Mozo Experts Choice Awards without a dedicated and experienced team of product data analysts at the helm. Combined they have decades of experience behind them. Meet them below.
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AJ Duncanson
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Peter Marshall
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Meredith Allan
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George Hirst
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Rumpa Saha
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Afia Asha
FAQs
What’s the Judging Criteria for the Mozo Experts Choice Awards?
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers. See our 2024 Mozo Experts Choice Australia’s Best Banking Awards methodology report for detailed information on how we performed product comparisons and determined the final winners for 2024.
Did you compare all providers in the market for these awards?
We aim to include most banking providers in the market in the Mozo Experts Choice Awards. However, not all banks and credit unions in the market will be included in our review. Any provider we review must be available at the time of our analysis and any offers included must be available to the general public on the provider’s website.
For the 2024 Australia’s Best Banking Awards, Mozo assessed 85 Authorised deposit taking institutions, of which 55 had won at least two banking Mozo Experts Choice Awards in the period May 2023 to May 2024. All of them were considered for these awards.
Who are the Mozo Experts?
The Mozo Experts Choice Awards are overseen by AJ Duncanson and Peter Marshall. AJ is Mozo’s Data Director, a data scientist and actuary who has worked in financial services and product comparison for over 30 years. Peter has been in the industry even longer, and as Mozo's Financial Services Specialist he contributes to the team of analysts that gather information and compare products every day, and oversees the calculations and data quality used for producing the Mozo Experts Choice Awards.
I work for a provider, how do we promote our win?
Please get in touch with us to discuss by email should you have any queries.