Customer owned banks shine brightly in 2020 Mozo Experts Choice Home Loan Awards
Australia’s customer owned banks have been revealed to be among the biggest winners in the recently announced 2020 Mozo Experts Choice Home Loan Awards which aim to shine a spotlight on some of the best home loans in the country.
Customer owned institutions punched above their weight taking home an impressive 20% of the awards on offer and performing particularly well in the First Home Buyer Loan, Packaged Home Loan and Fixed Home Loan award categories.
Among the 2020 Mozo Experts Choice Award winners were Customer Owned Banking Association members Bank Australia, Credit Union SA, G&C Mutual Bank, Greater Bank, Illawarra Credit Union, P&N Bank, Qudos Bank and RACQ Bank.
“In order to determine this year's winners we analysed 436 home loan products from 86 different Australian lenders, recognising the best home loans in 13 seperate awards categories,” said Expert Judge, Peter Marshall.
“The sheer size of that field demonstrates how difficult it is to be named an award winner, which just goes to show the great value being offered by some of Australia’s customer owned institutions when it comes to home loans.”
RELATED: Bank Australia wins best Green Home Loan in the 2020 Mozo Experts Choice Awards
So which customer owned institutions were among the standout winners in this year's awards? Here are some of the lenders that really impressed our expert judges.
Qudos Bank
Sydney-based Qudos Bank, formally Qantas Credit Union, were among the most celebrated winners in the 2020 Mozo Experts Choice Home Loan Awards, taking out wins in an impressive four different categories.
The Qudos Bank Fixed Rate Home Loan was named a winner in the Investor Fixed Home Loan and Fixed Home Loan categories, while the Low Cost Home Loan Value Package took out an award for best Packaged Home Loan.
Meanwhile, the Qudos Bank No Frills Home Loan and Fixed Rate Home Loan were jointly awarded a prize in the Best Split Home Loan category.
Qudos Bank are no strangers to the Mozo Experts Choice Awards, having previously picked up major award titles including Australia's Best Small Bank (2018) and Home Loan Bank of the Year (2017).
G&C Mutual Bank
Having already picked up a number of Mozo Experts Choice Awards in the past year - for their Low Rate Credit Card, Unsecured Personal Loan and Used Car Loan - G&C Mutual Bank continued their winning streak with three separate 2020 Mozo Experts Choice Home Loan Awards.
The G&C Mutual Bank First Home Loan Premium Package certainly impressed the Mozo judges, as it took home awards for Best Offset Home Loan as well as Best First Home Buyer Loan.
It was also named a winner in the Split Home Loan Award category in conjunction with the G&C Mutual Bank 1 Year Fixed Rate Home Loan.
Credit Union SA
As a perennial award winner which has previously been recognised for everything from its great value car loan (2019) to its excellent banking app (2019), Credit Union SA has added further silverware to its trophy cabinet with a victory in the 2020 Mozo Experts Choice Home Loans Awards.
That came in the form of a 2020 Best Packaged Home Loan Award which was awarded to Credit Union SA for its Variable Rate Home Loan Special Offer Package - one of just a handful of winners in the category.
RELATED: 2020 Mozo Experts Choice Home Loan Award winners announced
Ready to see how these customer owned award winners stack up against some of the other best home loans in Australia? Then head over to our 2020 Mozo Experts Choice Award page for a full list of winners, categories and a copy of the methodology report.
-
Promoted
Mozo experts choice awards won:
- Low Cost Home Loan - 2025
Unloan Variable Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
Go to site- Interest rate
-
5.19
%
p.a.
Variable
- Comparison rate
-
5.10
%
p.a.
- Initial monthly repayment
-
$2,742
- The first home loan with an automatic loyalty discount (conditions apply)
- No application or banking fees
- Built by CommBank
- interest rate
-
5.19% p.a. (5.10% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate automatically discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
Read reviews and learn more about Unloan home loans
Go to site
-
First Home Buyer Loan
- Owner occupier
- Principal & Interest
- 5% min deposit
- For first home buyers
- Offset available
- Redraw available
Go to site- Interest rate
-
4.99
%
p.a.
Variable
- Comparison rate
-
5.04
%
p.a.
- Initial monthly repayment
-
$2,681
- Competitive interest rate – 4.99% p.a. (comparison rate* 5.04% p.a.)
- Offset account to reduce interest and save on repayments
- No establishment or monthly fees, plus valuation fees waived up to $1,000 (limited time)
- interest rate
-
4.99% p.a. (5.04% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
-
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$100.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
First home buyers only. Legal, valuation and settlement fees at cost. New rate offer for new business only offer ends on 15th Dec 2025.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about G&C Mutual Bank home loans
Go to site -
Fixed Rate Home Loan
- Fixed rate
- Owner occupier
- Principal & Interest
- 5% min deposit
Go to site- Interest rate
-
5.09
%
p.a.
Fixed 2 years
- Comparison rate
-
5.43
%
p.a.
- Initial monthly repayment
-
$2,712
- No ongoing annual fees
- Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
- Lock in for up to 5 years.
- interest rate
-
1 year - 5.24% p.a. (5.48% p.a. comparison rate)
2 years - 5.09% p.a. (5.43% p.a. comparison rate)
3 years - 5.29% p.a. (5.46% p.a. comparison rate)
4 years - 5.69% p.a. (5.58% p.a. comparison rate)
5 years - 5.69% p.a. (5.60% p.a. comparison rate)
- Fixed loan revert rate
-
5.48% p.a.
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
95.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Fixed
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free up to $25,000 during fixed period
- Redraw facility
-
no
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Additional repayments allowed up to $25,000 during the fixed period.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
Go to site -
Mozo experts choice awards won:
- Low Cost Home Loan - 2025
Unloan Variable Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
Go to site- Interest rate
-
5.19
%
p.a.
Variable
- Comparison rate
-
5.10
%
p.a.
- Initial monthly repayment
-
$2,742
- The first home loan with an automatic loyalty discount (conditions apply)
- No application or banking fees
- Built by CommBank
- interest rate
-
5.19% p.a. (5.10% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$0.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$10,000
- maximum borrowing amount
-
$10,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
-
- Offset account
-
no
- Split account
-
no
- Other restrictions
-
-
- Other benefits
-
Rate automatically discounted by 0.01% p.a. every year up to a maximum discount of 0.30% p.a..
- Special Offers
-
-
Read reviews and learn more about Unloan home loans
Go to site -
Mozo experts choice awards won:
- Low Cost Home Loan - 2025
- Investor Home Loan - 2025
Discount Great Rate Home Loan
- Owner occupier
- Principal & Interest
- 20% min deposit
- Redraw available
- Cashback
Go to site- Interest rate
-
5.19
%
p.a.
Variable
- Comparison rate
-
5.20
%
p.a.
- Initial monthly repayment
-
$2,742
- Get up to $3,000 cashback when you apply online (T&Cs apply)
- No paperwork or payslips required (see site for details)
- Low variable rate
- interest rate
-
5.19% p.a. (5.20% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$180.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$300.00
- Package
-
-
- Maximum loan to value ratio
-
80.00%
- minimum borrowing amount
-
$150,000
- maximum borrowing amount
-
-
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
no
- Split account
-
yes
- Other restrictions
-
Legal fees charged at cost.
- Other benefits
-
-
- Special Offers
-
Apply online cashback offer $2,500 for new loans of $250,000-$499,999 or $3,000 cashback for $500,000 or more for purchases or refinancing, LVR <80%. Up to $2,500 cashback for refinancers or first home buyers for applications made with lenders. T&Cs apply
Read reviews and learn more about Greater Bank home loans
Go to site -
Mozo experts choice awards won:
- First Home Buyer Loan - 2025
Variable Home Loan 90
- Owner occupier
- Principal & Interest
- 10% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.29
%
p.a.
Variable
- Comparison rate
-
5.33
%
p.a.
- Initial monthly repayment
-
$2,773
- No monthly or ongoing fees
- Option to add an offset for 0.10% p.a.
- interest rate
-
5.29% p.a. (5.33% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$530.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$0.00
- Package
-
-
- Maximum loan to value ratio
-
90.00%
- minimum borrowing amount
-
$50,000
- maximum borrowing amount
-
$2,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
yes - free
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
yes
- Other restrictions
-
Offset sub-account available for additional +0.10%. $300 discharge fee and $250 discharge documentation fee applicable if loan doesnt go to full term.
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about loans.com.au home loans
Go to site -
Offset Home Loan
- Owner occupier
- Principal & Interest
- 40% min deposit
- Offset available
- Redraw available
Go to site- Interest rate
-
5.39
%
p.a.
Variable
- Comparison rate
-
5.42
%
p.a.
- Initial monthly repayment
-
$2,805
- No ongoing monthly loan maintenance fees to pay.
- Pre-approval valid for 3 months
- interest rate
-
5.39% p.a. (5.42% p.a. comparison rate)
- Fixed loan revert rate
-
n/a
- Upfront fees
-
$300.00
- Ongoing fees
-
$0.00
- Discharge Fee
-
$395.00
- Package
-
-
- Maximum loan to value ratio
-
60.00%
- minimum borrowing amount
-
$20,000
- maximum borrowing amount
-
$5,000,000
- type of mortgage
-
Variable
- Repayment types
-
Principal & Interest
- Availability
-
Owner Occupier
- Repayment options
-
Weekly, Fortnightly, Monthly
- Extra repayments
-
n/a
- Redraw facility
-
yes - free
- Minimum redraw amount
-
$0.00
- Offset account
-
yes
- Split account
-
-
- Other restrictions
-
-
- Other benefits
-
-
- Special Offers
-
-
Read reviews and learn more about BCU Bank home loans
Go to site
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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
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.