Are you caught in a loyalty trap with your bank or insurer? Here’s how to check

There’s been rapid change in the world of finance since the Reserve Bank started lowering the cash rate at the beginning of the year. We’ve seen home loan interest rates drop across the board, and a number of new deals have entered the market, particularly home loan cashback offers.

But it’s not just home loans – if you’re looking to fund a home renovation, a wedding or a trip overseas, there are some highly competitive rates available from the best personal loan lenders, and the process of applying is more streamlined than ever.

It’s a similar story for car insurance, where some seriously good perks are available if you shop around outside of the big names. Think 10% off your groceries once a month if you go for Everyday Insurance from Woolworths, or no young driver excess if you go with the award-winning insurer ROLLiN’.

With new rates and offers available, you don’t want to be stuck paying a loyalty tax, so now’s a good time to reassess your providers before heading into the busy Christmas period. You might just find it’s time for you to break up with your bank or insurer, and move on with something that works better for you.

We’ve rounded up some of the hottest deals on Mozo across home loans, personal loans and car insurance for you to compare against your current providers. Check out our reviews below.