CBA’s digital brainchild Unloan scoops top home loan award again in 2024

By Kylie Moss · · 1 min read
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If there’s one home loan lender more and more Aussies are hearing about, it’s the new digital lender Unloan, built by CommBank. 

And for good reason. Between seriously competitive rates, zero fees , handy features like its loyalty discount, and as little as a speedy 10 min online application process, Unloan has become a force to be reckoned with. 

The Mozo expert judges think so too, as Unloan has taken out a Low Cost Home Loan award for the second year running in the  Mozo Experts Choice Awards^,   which is an annual head-to-head comparison of 450+ home loans in Australia, to award the best value ones  for Australians. 

“Taking out back to back awards in our low cost home loan category is no mean feat and with the winning combination of low rates, unique features, the scrapping of fees, and big bank backing, Unloan continues to set the bar for what a leading home loan looks like in 2024,” said Mozo expert judge, Peter Marshall.

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Important disclosures and comparison rate warning*
Unloan Variable Home Loan
  • 5.99% p.a. variable rate (5.90% p.a. comparison rate*)
  • Zero upfront or ongoing fees
  • Low cost home loan winner - Mozo Experts Choice Awards 2023 & 2024^

Unloan’s Variable Home Loan has taken out a low cost home loan award for the second year running in the Mozo Experts Choice Awards^. Built by CommBank, Unloan offers owner-occupiers a super low 5.99% p.a. variable rate (5.90% 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.

Unloan Variable Investment Home Loan
  • 6.29% p.a. variable rate (6.20% p.a. comparison rate*)
  • Zero upfront or ongoing fees

For investors, Unloan's low variable rate comes in at a competitive 6.29% p.a. (6.20% p.a. comparison rate*), with the same increasing loyalty discount rate up to thirty years. There are no application or other upfront fees, and no ongoing fees and investors get the same loan features as owner occupiers, including free extra repayments and redraws. Available for investment loans of up to $10M. Minimum 20% deposit.

More home loans our editors love

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Important disclosures and comparison rate warning*
NRMA Insurance Variable Home Loan
  • 5.98% p.a. variable rate (6.02% p.a. comparison rate*)
  • Zero application fees to pay
  • Free additional repayments and online redraw

Enjoy a competitive interest rate on up to a 30 year loan term with the NRMA variable home loan. There is no application fee to pay and you can make unlimited additional repayments to pay your home loan off sooner. You’ll get free online redraw and have the option to add a 100% offset account for a small fee. 10% minimum deposit. Fees & charges apply, Australian Credit Licence 237879 is held by Bendigo and Adelaide Bank Limited, the credit provider.

HSBC - Home Value Loan
  • 6.09% variable rate (6.09% comparison rate*)
  • Enjoy free extra repayments, online redraw and no ongoing monthly service fees
  • Settlement fee waived for promotional offer (T&Cs apply)
  • 2024 Mozo Experts Choice Award - Low Cost Home Loan^

HSBC is a favourite with borrowers looking to find value outside of the big four banks, and for good reason. In addition to a low variable rate for borrowers with 70-80% LVR, this loan is loaded with features, including free extra repayments, a free online redraw facility, an optional split account and a dedicated relationship manager to guide you through the application process. $300 variation fee for changes to your loan. It also took out a 2024 Mozo Experts Choice Award^ in the low cost home loan category.

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* 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.

^See information about the Mozo Experts Choice Home Loan Awards

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