Meet the lenders taking on the big banks in 2019

Ceyda Erem

13 Mar 2019

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With so many different options for borrowing money out there on the market, Aussies really are spoilt for choice when it comes to getting a great deal on their home loans, personal loans and credit cards.

And with so many challengers to the big banks popping up - from online lenders, to customer-owned institutions and credit unions - there’s more reason than ever before to spend some time comparing your options to get the best value around.

So if you’re over high interest rates and steep fees, check out these killer lenders giving the big banks a run for their money.

HOME LOANS

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loans.com.au Smart Home Loan
  • 3.48% variable rate (3.50% comparison rate*)

  • $0 application or ongoing fees

  • Unlimited free extra repayments and redraw facility

Popular online lender loans.com.au not only offers up a super low rate with its Smart Home Loan, but you can also make use of a few handy features, including unlimited free extra repayments, a redraw facility and the chance to split your loan between fixed and variable rates. Its no wonder loans.com.au is a perennial Mozo Experts Choice Awards winner for Best Low Cost Home Loan. You can borrow up to $1 million with this loan, and pay no annual or application fee.

Where do I get it? Head over to loans.com.au to find out more >>

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Bank Australia Basic Home Loan Special
  • 3.76% variable rate (3.77% comparison rate*)

  • $0 annual fee plus establishment fee waived until 31 March

  • Free extra repayments and redraw facility

Bank Australia's mission is to be a responsible and sustainable alternative to the big banks, offering a winning combination of low cost products and ethical standards. With a special low rate and no big fees to budget for, the Bank Australia Basic Home Loan Special delivers real value. You can borrow amounts from $10,000 with a 20% deposit and choose from monthly, fortnightly or even weekly repayments. Plus, you’ll be able to pay off your balance quicker with free extra repayments.

Where do I get it? Head over to Bank Australia to find out more >>  

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HSBC Discounted Home Value Loan
  • Variable 3.59% interest rate (3.61% comparison rate*)

  • Relationship manager to guide you through the application process

  • Borrow with just 10% deposit

Take the stress out of home loan shopping with the HSBC Discounted Home Value Loan. This loan offers an ongoing discounted variable rate of 3.59% (2.61% comparison rate*) as well as the option to borrow up to 90% of the property's value. There are no ongoing fees, plus the option to make free extra repayments and make use of the free online redraw facility. And if you're finding the home loan application process a bit too stressful, HSBC will provide you with a relationship manager to help you along the way.

Where do I get it? Head over to HSBC to find out more >>  

PERSONAL LOANS

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ING Unsecured Personal Loan
  • Fixed rates from 8.99% (9.13% comparison rate^^)

  • No establishment fee if you have or open an Orange Everyday account

  • Free extra repayments allowed

ING is a straightforward, no fuss alternative to the big banks, and you can now get your hands on an unsecured personal loan with this lender. The loan comes with a really competitive rate, plus, if you have an ING Orange Everyday Account or open one when you sign up for the personal loan, you won’t have to pay the $100 upfront loan establishment fee.

Where do I get it? Head over to ING to find out more >>

CREDIT CARDS

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CUA Low Rate Credit Card
  • 11.99% purchase rate

  • 0% balance transfer for 13 months

  • $0 annual fee in the first year ($49 after)

Whether you're looking for your first credit card or are thinking of blasting debt in 2019, you might want to give the CUA Low Rate Credit Card a look. This credit card features a 0% balance transfer rate for 13 months and no transfer fee, helping you say goodbye to lingering debt. There's also a low 11.99% purchase rate for everyday spending, up to 55 interest free days and no annual fee in the first year! 

Where do I get it? Head over to CUA to find out more >> 

BUSINESS LOANS

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Moula Business Loan
  • Interest rate from 1.00% per fortnight

  • Potential funding within 24 hours

  • $0 upfront fee

Keep your focus on your business and not on the hassle of complicated business loan applications with the Moula Business Loan. This business loan offers interest rates from 1.00% per fortnight and charges no upfront fee. Borrow up to $250,000 to purchase inventory, pay for overheads and pay off debt. You won't waste time waiting around to be approved either, as there's a quick 10 minute application process and if approved, you'll receive the funds within 24 hours!

Where do I get it? Head over to Moula to find out more >> 

*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.

^ 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 for the amounts and terms below, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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. ^ Based on $10,000 over 3 years ^^ Based on $30,000 over 5 years

Want to check out some other excellent borrowing options? Head over to our home loan comparison table, or our personal loan comparison tool or are our credit card comparison tool to get started.

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