Been with your bank or insurer for over 3 years? You need to read this!
While it may only feel like yesterday since you last reviewed your home loan, personal loan or car insurance, if you’ve been with the same lender or insurer for more than three years, you may be missing out on some of the latest innovations and new players that have emerged that could save you time and money.
Fast online applications, efficient approval processes and killer low rates are just some of the benefits that new players are offering.
In the home loan game, the big entrant over the past few years has been Unloan, the digital home loan built and backed by CommBank, that has a rate of just 5.74% (5.65% comparison) and an automatic 0.01% rate discount for every year you hold the loan. Then there’s online rival loans.com.au, which has a competitive rate with an optional offset account.
If you’re after a car or personal loan, online lenders like NOW Finance and OMM offer speedy, online applications and allow free extra repayments so you can save on interest and pay your loan back faster. Over in the car insurance arena, Budget Direct has a discount for new policy holders and Youi boasts new-for-old car replacement to get you on the road sooner.
Don’t let outdated deals cost you any longer. Check out what’s on offer across home loans, personal loans, and car loans below. A quick comparison could be the difference between paying extra or pocketing savings.
HOME LOANS
Unloan Variable Home Loan
- NEW LOW RATE!
- 5.74% p.a. variable rate (5.65% p.a. comparison rate*)
- Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^
- Zero upfront or ongoing fees
Unloan’s Variable Home Loan has taken out a low cost home loan award for an impressive third year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.74% p.a. variable rate (5.65% p.a. comparison rate*) along with a loyalty discount that shaves 1 basis point off your interest every year for up to 30 years. Loan features include free extra repayments and redraw, and there are no pesky fees to pay. Available for loans of up to $10M. Minimum 20% deposit.
NEW LOW RATE!
- NEW LOW RATE!
- Variable interest rate from 5.79% p.a. (5.83% p.a. comparison rate*) for LVR < 90%
- First Home Buyer Loan winner - Mozo Experts Choice Awards 2025^
- No application fees to pay
If you're in the market for a competitive rate on a variable home loan, online lender loans.com.au has come through with the goods. There are no application fees to pay and you only require a 10% deposit to get started. You can borrow between $50,000 to $2,000,000, plus, you’ll have the freedom to make free extra repayments, and redraw them without penalty too. $300 settlement fee applies. (T&Cs apply).
PERSONAL LOANS
OurMoneyMarket Low Rate Personal Loan
- Unsecured rates from just 6.57% fixed (7.19% comparison rate*)
- Free extra repayments and fee-free redraw
- Quick and easy 100% online application
OurMoneyMarket offers low rate personal loans for borrowers with excellent credit, with a speedy online application process that guarantees you a decision in just 1 minute. You can borrow between $5,000 and $75,000 at a simple fixed interest rate that can be repaid weekly, fortnightly or monthly over 1 to 7 years. There are no monthly account keeping fees, no exit fees and no early repayment fees.
NOW Finance No Fee Unsecured Personal Loan
- Unsecured rates from 6.45% fixed (6.45% comparison rate*)
- Zero upfront fees or ongoing fees – over the life of your loan
NOW Finance is a popular choice with borrowers looking to avoid costly fees and high interest rates. This award-winning non-bank lender offers no-fee personal loans for up to $50,000, with super low rates for good credit borrowers. Apply online to get a personalised rate quote in 2 minutes without impacting your credit score, and NOW Finance offers funds as fast as 24-48 hours after you’re approved.
CAR INSURANCE
Budget Direct Gold Comprehensive Car Insurance**
- 15% off the first year's premium for new policies purchased online. T&C's apply.
- 15% off the first year's premium for new policies purchased online. T&C's apply.
For the 5th year in a row, Budget Direct has taken out top honours as Australia's Best Value Car Insurer. Budget Direct's top-value Gold Comprehensive Car Insurance policy offers up to $500 of personal property covered, a separate $500 for covering baby capsules and another $1,000 to replace car keys and locks, plus new-for-old car replacement and the option to choose your own repairer after an insurable event. And don’t forget the feel-good bonus of 15% off the first year's premium for new policies purchased online. T&C's apply.
Youi Comprehensive Car Insurance**
- New-for-old-car replacement (within 2 years & a listed driver is the first registered owner)
- Emergency roadside assistance included
In an emergency Youi's policy can provide up to $1,000 to cover repairs without an insurance assessment, which can alternatively be spent on accommodation and travel if you’re more than 100km away from home. Emergency roadside assistance is also included as standard. Youi offers new-for-old car replacement and policy holders can get back onto the road after a theft or not-at-fault accident with Youi’s hire car cover (for up to 14 days). Youi took home the award for Exceptional Value Senior Driver Insurance.^
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
*** WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.
**** Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
^See information about the Mozo Experts Choice Home Loan Awards
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