Personal Loan Awards 2021

Congratulations to the 2021 winners of Mozo Experts Choice Awards for Personal Loans. No matter what your financial goals are in life; whether they be to consolidate debt, fund a big ticket item, renovate the house or travel the country, the Mozo Experts Choice winners list is the ideal place to start your search for an amazing value personal loan.

Mozo Experts Choice Awards 2021 Bagde

What are the Mozo Experts Choice Awards?

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

For the 2021 personal loan awards, we analysed 334 personal lending products issued by 88 Australian financial institutions.

“There’s no reason that Australians should be paying more than they have to in interest and fees for a loan,” said Peter Marshall, Mozo Experts Choice Awards judge.

“This year’s winners list is proof that the bigger banking players do not always offer the best value. Online and smaller lenders often have more competitive interest rates and if you are able to take advantage of this you will be able to save money or pay off the debt sooner.  Just be sure to compare all features in order to find one that will suit your particular financial needs.”

For details on how we crunched the numbers and determined our winners see our 2021 Mozo Experts Choice Awards Personal Loans methodology report.


Personal Loan Provider of the Year


Congratulations goes to Australian Military Bank for taking out our 2021 Personal Loan Provider of the Year award. 

Australian Military Bank scored individual award wins for its Unsecured Personal Loan as well as its Car Loan this year. Known in the industry for great value loans based on credit history, Australian Military Bank is open to all Australians, not only those who serve in the military and their families. The Unsecured Personal Loan has some of the best pricing for both fixed and variable options according to our analysis, and the Car Loan can be used to purchase either a brand new car or a used car up to 5 years old.


Best New Loan Product


Newcomer, Alex is building a bank with a no fuss, better value approach. Their first product available to Australians is a competitive Personal Loan.

The loan reflects the brand values that Alex is putting forward - no tricky catches and very competitive pricing. Of all the new Personal Loans launched over the last 12 months, our judges believe the Alex personal loan stands out from the rest.


Unsecured Personal Loan


Most unsecured personal loans allow complete freedom of purpose and are a popular loan choice as they don’t require any security or collateral when it comes to obtaining a loan. Rates and fees can vary enormously though, so for this category Mozo’s judges identified those general purpose loans offering the best rate and fee combination to determine our award winners.

Car Loan


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

Used Car Loan


Our money experts 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. These are the stand-outs in the used car loan category.

Secured Personal Loan


Whether it’s to consolidate debt, spruce up your home or fund a long overdue trip away, 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


Taking the initiative to go green can be rewarding as most green loans tend to have a lower interest rate than a regular loan. If you’re thinking of borrowing for an environmentally friendly purpose such as installing solar panels or water tanks, our money experts compared all loans in our database that fit the criteria chosen.


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 between the loans eligible for this award.


Personal Line of Credit


Depending on your needs, a personal line of credit can be a good idea for securing flexible funds for large, planned expenses. Our money experts identified, then compared all personal loans in the Mozo database that operate as lines of credit to find the Mozo Experts Choice Award Winner.


Frequently Asked Questions

What’s the Judging Criteria for the awards?


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


Will I get the lowest interest rate advertised?


Who are Mozo's experts?


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