Stats crunched by Mozo Experts
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347Personal and Car Loans
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79Lenders
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11Award Categories
A big round of applause to the winners of the Mozo Experts Choice Personal Loan Awards for 2025. To determine which personal loan providers deliver the best value loans for Australians, our team of expert judges assessed 347 personal loan products issued by 79 Australian financial institutions.
No matter what your financial goals are in life – whether you’re looking to consolidate debt, fund a big ticket item, renovate your home or jet-set around the globe, the Mozo Experts Choice winners list is a great place to start your search for a great value personal loan.
Standout Winners
Australia's Best Personal Loans
IMB Bank is our winner of the highly commended Australia’s Best Personal Loans for 2025 and scored more wins than any other lender and those awards are across a variety categories including Secured Personal Loan, Unsecured Personal Loan, Car Loan, and Used Car Loan. This exceptional achievement has earned the bank the prestigious title as a provider of Australia's Best Personal Loans, highlighting its excellence in the personal loans sector.
Congratulations to:
IMB Bank
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Car Loan
up to 4 years old, Fixed, Secured
- interest rate
- 6.24% p.a.
- comparison rate
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6.59% p.a.based on $30,000
over 5 years
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Secured Personal Loan
secured by vehicle up to 6 years old, Fixed
- interest rate
- 6.84% p.a.
- comparison rate
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7.19% p.a.based on $30,000
over 5 years
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Unsecured Personal Loan
Fixed
- interest rate
- 8.98% p.a.
- comparison rate
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10.72% p.a.based on $10,000
over 3 years
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Personal Line of Credit
Variable, Unsecured
- interest rate
- 13.85% p.a.
- comparison rate
- n/a
Unsecured Personal Loan
Most unsecured personal loans allow complete freedom of purpose and are fairly similar in many respects, but rates and fees can vary enormously, so the judges identified the general purpose loans offering the best rate and fee combination.
For this category some winners are those where rates or fees vary depending on the borrower's credit score and other factors. These were assessed along with ‘flat’ priced loans to identify the loans where borrowers were most likely to get the best rates overall.
Congratulations to:
Australian Mutual Bank, BCU Bank, Easy Street, Firefighters Mutual Bank, Health Professionals Bank, Heritage Bank, IMB Bank, Newcastle Permanent, People's Choice, Teachers Mutual Bank, and UniBank
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Freedom Loan
Variable, Unsecured
- Interest Rate
- 9.30% p.a.
- Comparison Rate
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9.59% p.a.based on $10,000
over 3 years
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Standard Personal Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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9.35% p.a.based on $30,000
over 5 years
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Unsecured Personal Loan
Fixed
- Interest Rate
- 8.98% p.a.
- Comparison Rate
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10.72% p.a.based on $10,000
over 3 years
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Personal Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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9.35% p.a.based on $30,000
over 5 years
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Personal Loan
Variable, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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9.20% p.a.based on $30,000
over 5 years
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All Purpose Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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10.03% p.a.based on $10,000
over 3 years
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All Purpose Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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9.20% p.a.based on $30,000
over 5 years
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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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Unsecured Personal Loan
Fixed
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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10.73% p.a.based on $10,000
over 3 years
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All Purpose Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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10.03% p.a.based on $10,000
over 3 years
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All Purpose Loan
Fixed, Unsecured
- Interest Rate
- 8.99% p.a.
- Comparison Rate
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9.20% p.a.based on $30,000
over 5 years
Excellent Credit Unsecured Personal Loan
Similar to the regular Unsecured Personal Loan Award, our judges identified the general purpose loans offering the best rate and fee combination for borrowers with excellent credit.
Congratulations to:
ING, Liberty, MoneyPlace, NOW Finance, OurMoneyMarket, Pepper Money, and Plenti
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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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Personal Loan
Fixed, Unsecured
- Interest Rate
- 7.24% p.a.to 19.99% p.a.
- Comparison Rate
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7.24% p.a.to 21.49% p.a.based on $30,000
over 5 years
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Personal Loan
Fixed, Unsecured
- Interest Rate
- 6.75% p.a.to 26.95% p.a.
- Comparison Rate
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6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
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Personal Loan
Unsecured, Variable
- Interest Rate
- 6.57% p.a.
- Comparison Rate
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6.57% p.a.based on $30,000
over 5 years
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Personal Loan
Unsecured, Fixed
- Interest Rate
- 6.57% p.a.
- Comparison Rate
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6.57% p.a.based on $30,000
over 5 years
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Unsecured Personal Loan
Fixed
- Interest Rate
- 7.24% p.a.to 19.99% p.a.
- Comparison Rate
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7.24% p.a.to 21.49% p.a.based on $30,000
over 5 years
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Unsecured Personal Loan
Fixed
- Interest Rate
- 6.75% p.a.to 26.95% p.a.
- Comparison Rate
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6.75% p.a.to 26.95% p.a.based on $30,000
over 5 years
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Low Rate Personal Loan
Fixed, Unsecured
- Interest Rate
- 6.57% p.a.to 8.39% p.a.
- Comparison Rate
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7.19% p.a.to 8.75% p.a.based on $30,000
over 5 years
Car Loan
To find the cheapest car loan for buying a new car, Mozo’s money experts combed through 83 different personal loans and calculated the cost of a $30,000 new car loan including principal, interest, fees and charges repaid over 5 years.
Congratulations to:
Greater Bank, Heritage Bank, Illawarra Credit Union, IMB Bank, MOVE Bank, People's Choice, Police Credit Union, Queensland Country Bank, and SWSbank
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Car Loan
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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Secured Fixed Personal Loan
- Interest Rate
- 6.49% p.a.
- Comparison Rate
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6.77% p.a.based on $30,000
over 5 years
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Online Personal Loan Package
Variable, Secured
- Interest Rate
- 6.00% p.a.
- Comparison Rate
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6.64% p.a.based on $30,000
over 5 years
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Car Loan
Fixed, Secured
- Interest Rate
- 6.24% p.a.
- Comparison Rate
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6.59% p.a.based on $30,000
over 5 years
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New Car Loan
Fixed, Secured
- Interest Rate
- 5.99% p.a.
- Comparison Rate
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6.37% p.a.based on $30,000
over 5 years
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Low Rate Car Loan
Special Offer, Secured, Variable
- Interest Rate
- 6.24% p.a.
- Comparison Rate
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6.65% p.a.based on $30,000
over 5 years
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New Car Loan
Variable, Secured
- Interest Rate
- 6.24% p.a.
- Comparison Rate
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6.84% p.a.based on $30,000
over 5 years
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New Car Loan
Fixed, Secured
- Interest Rate
- 6.45% p.a.
- Comparison Rate
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6.72% p.a.based on $30,000
over 5 years
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5 Year Variable Interest Vehicle Loan
- Interest Rate
- 5.79% p.a.
- Comparison Rate
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5.79% p.a.based on $30,000
over 5 years
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Fixed Rate Vehicle Loan
- Interest Rate
- 5.99% p.a.
- Comparison Rate
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5.99% p.a.based on $30,000
over 5 years
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Discounted Personal Loan
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
Excellent Credit Car Loan
For this award our judges compared all loans in our database to find the best value loans for used car borrowers with excellent credit. Calculations were based on a $15,000 loan including principal, interest, fees and charges repaid over 5 years to determine the winners.
Congratulations to:
Harmoney
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Low Rate Car Loan Excellent Credit
Fixed, Secured
- Interest Rate
- 5.66% p.a.to 20.07% p.a.
- Comparison Rate
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6.45% p.a.to 20.98% p.a.based on $30,000
over 5 years
Used Car Loan
For this award, our judges 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 to determine the winners.
Congratulations to:
Greater Bank, Heritage Bank, Illawarra Credit Union, IMB Bank, Police Bank, RACQ Bank, and Regional Australia Bank
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Car Loan
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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Secured Fixed Personal Loan
- Interest Rate
- 6.99% p.a.
- Comparison Rate
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7.27% p.a.based on $30,000
over 5 years
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Secured Personal Loan
secured, Fixed
- Interest Rate
- 6.84% p.a.
- Comparison Rate
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7.19% p.a.based on $30,000
over 5 years
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Car Loan
Fixed, Secured
- Interest Rate
- 6.24% p.a.
- Comparison Rate
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6.59% p.a.based on $30,000
over 5 years
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Driveaway Car Loan
Fixed, Secured
- Interest Rate
- 6.99% p.a.
- Comparison Rate
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7.13% p.a.based on $30,000
over 5 years
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Secured Personal Loan
Fixed
- Interest Rate
- 6.78% p.a.
- Comparison Rate
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7.17% p.a.based on $30,000
over 5 years
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Accelerator Car Loan
Variable, Secured
- 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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Car Loan Special
Secured, Fixed
- Interest Rate
- 6.69% p.a.
- Comparison Rate
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6.86% p.a.based on $30,000
over 5 years
Excellent Credit Used Car Loan
For this award our judges compared all loans in our database to find the best value loans for used car borrowers with excellent credit. Calculations were based on a $15,000 loan including principal, interest, fees and charges repaid over 5 years to determine the winners.
Congratulations to:
NOW Finance and Pepper Money
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Secured Loan
Fixed
- Interest Rate
- 6.75% p.a.to 21.65% p.a.
- Comparison Rate
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6.75% p.a.to 21.65% p.a.based on $30,000
over 5 years
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Secured Car Loan
Fixed
- Interest Rate
- 6.75% p.a.to 21.65% p.a.
- Comparison Rate
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6.75% p.a.to 21.65% p.a.based on $30,000
over 5 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 loans. Our experts assumed a $30,000 loan over 5 years when comparing costs.
Congratulations to:
Bendigo Bank, Queensland Country Bank, and RACQ Bank
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Green Personal Loan
Fixed
- Interest Rate
- 5.49% p.a.
- Comparison Rate
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5.84% p.a.based on $30,000
over 5 years
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Green Car Loan
Variable
- Interest Rate
- 5.99% p.a.
- Comparison Rate
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6.28% p.a.based on $30,000
over 5 years
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Green Car Loan
Fixed
- Interest Rate
- 5.99% p.a.
- Comparison Rate
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5.99% p.a.based on $30,000
over 5 years
Secured Personal Loan
If you’re in the market for a general purpose secured personal loan whether it be for a holiday, big purchase or home renovation, the Mozo Experts Choice Award winners below are a great starting point.
Congratulations to:
Greater Bank, Illawarra Credit Union, IMB Bank, Newcastle Permanent, and SWSbank
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Online Personal Loan Package
Secured, Variable
- Interest Rate
- 6.00% p.a.
- Comparison Rate
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6.64% p.a.based on $30,000
over 5 years
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Secured Personal Loan
Fixed
- Interest Rate
- 6.84% p.a.
- Comparison Rate
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7.19% p.a.based on $30,000
over 5 years
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Personal Loan
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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Secured Personal Loan
Fixed
- Interest Rate
- 6.78% p.a.
- Comparison Rate
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7.17% p.a.based on $30,000
over 5 years
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Secured Personal Loan
Variable
- Interest Rate
- 8.50% p.a.
- Comparison Rate
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8.50% p.a.based on $30,000
over 5 years
Excellent Credit Secured Personal Loan
If you have excellent credit up your sleeve and you’re in the market for a general purpose secured personal loan, whether it be for a holiday, big ticket purchase or home renovation, the Mozo Experts Choice Award winners below are a great starting point.
Congratulations to:
Liberty, MoneyPlace, and OurMoneyMarket
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Personal Loan
Fixed
- Interest Rate
- 6.52% p.a.to 19.19% p.a.
- Comparison Rate
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6.95% p.a.to 20.77% p.a.based on $30,000
over 5 years
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Secured Personal Loan
Fixed
- Interest Rate
- 6.52% p.a.to 19.19% p.a.
- Comparison Rate
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6.95% p.a.to 20.77% p.a.based on $30,000
over 5 years
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Secured Personal Loan
Fixed
- Interest Rate
- 6.57% p.a.to 18.99% p.a.
- Comparison Rate
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7.19% p.a.to 19.39% p.a.based on $30,000
over 5 years
Green Personal Loan
Thinking of borrowing for an environmentally friendly purpose? We compared all loans in our database fitting this criteria, based on a $10,000 loan repaid over 3 years to find this year’s Green Personal Loan winners.
Congratulations to:
Northern Inland Credit Union, Police Credit Union, and Queensland Country Bank
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Solar Eco Loan
Variable, Unsecured
- Interest Rate
- 6.24% p.a.
- Comparison Rate
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6.24% p.a.based on $30,000
over 5 years
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Green Reno Loan
Variable, Unsecured
- Interest Rate
- 6.49% p.a.
- Comparison Rate
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6.49% p.a.based on $30,000
over 5 years
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Green Loan
Fixed, Unsecured
- Interest Rate
- 5.49% p.a.
- Comparison Rate
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5.49% p.a.based on $30,000
over 5 years
What are the Mozo Experts Choice Awards?
Now in their twelfth year, the Mozo Experts Choice Awards present an opportunity to recognise products in the market we believe offer great value to Australians.
For the 2025 Personal Loan awards, our Experts analysed 347 personal loan products issued by 79 Australian financial institutions head to head.
“Personal Loans can be a cost-effective way to fund a range of larger expenses, from a trip overseas, to medical expenses, a new car or installing solar panels. But with a large range of lenders out there ,and many of those offering a variety of loan options, it can be hard to find the best options for your needs,” said Peter Marshall, Mozo Experts Choice judge.
“The Mozo Experts Choice Awards aim to identify the most cost-effective options for each type of product based on the total cost of each loan over a number of years, taking into account the interest rates along with all mandatory fees. Our winners provide a great place to start your search no matter what type of expense you're looking to cover.”
For full details on how we crunched the numbers, the awards criteria and how we determined the winners, see the 2025 Mozo Experts Choice Awards for Personal Loans 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 2025 Mozo Experts Choice Awards for Personal Loans methodology report for detailed information on how we performed product comparisons for personal loans to determine the final winners for 2025.
What’s the difference between a secured and unsecured loan?
A secured loan requires the borrower to offer up assets (like a car or house) to use as collateral should they be unable to repay their loan balance, whereas an unsecured personal loan allows you to borrow without the need for security. It is important to note that unsecured loans tend to have a higher interest rate and are usually based solely on the borrower’s credit score and their capacity to repay the debt, as calculated by the lender.
Is a fixed or variable loan better?
As the name suggests, a fixed loan means the interest rate will remain the same or ‘fixed’ for the entire loan period (often between 1 and 5 years). So, as you might expect, the interest rate on a variable loan fluctuates, as it can be altered by the lender at any point. A variable loan can have more flexible features and offer potential savings if interest rates decrease, but can also expose you to the risk of increasing rates.
If you like the security of knowing exactly what your repayments will be and how you’ll fit that into your budget, then you’ll likely be better off with the security of a fixed loan. If you feel comfortable that you can manage loan repayments if rates rise, while taking advantage of flexible loan features, then a variable loan could be the way to go for you.
Ultimately, whether a fixed or variable personal loan is better will depend on what is best for you and your finances.
What is a comparison rate?
A comparison rate is a figure that includes the advertised interest rate in addition to fees and charges connected to the loan. It’s always important to assess comparison rates as well as flat interest rates, as it allows borrowers to identify the true cost of a loan.
Did you compare all personal loans in the market for these awards?
In carrying out the Mozo Experts Choice Awards for Personal Loans, we analysed 347 personal loan products issued by 79 Australian financial institutions based on data contained in Mozo’s product database as of October, 2024.
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.
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 winning financial institution, how do we promote our win?
Please get in touch with us to discuss by email should you have any queries.