Meet killer lenders taking on the big banks in 2019
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.
loans.com.au Smart Home Loan
3.03% variable rate (3.05% comparison rate*)
$0 application or ongoing fees
Unlimited free extra repayments and redraw facility
Popular online lender loans.com.au not only offers up an amazingly low rate with its new 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 >>
Athena Variable Home Loan
3.09% variable rate (3.05% comparison rate*)
Free extra repayments and redraw facility
No upfront or ongoing fees
Athena has been taking on the big banks with great value mortgages and their Variable Home Loan with a super-low 3.09% variable rate (3.05% comparison rate*) is no exception. Featuring no application, valuation or ongoing fees, this killer loan also offers free extra repayments and a free redraw facility. Just keep in mind, if you’re a first home buyer, you won’t be able to get this loan as it’s only for refinancers, living in capital or major regional cities.
Where do I get it? Head over to Athena to find out more >>
UBank UHomeLoan - Discount Offer
3.34% variable rate (3.34% p.a. comparison rate*)
No ongoing or upfront fees
Free extra repayments and redraw facility
As one of the top online banks in our database, UBank has our seal of approval when it comes to offering Aussie borrowers the best bang for their buck. Why? Well, for one, with no fees, a low interest rate and plenty of flexible payment options, the UHomeLoan Discount Offer is pretty hard to argue with. UBank has no bank branches, focusing instead on offering great value loans plus an ultra efficient online application process with support from local home loan experts. It’s available for loans of $200,000 or more, with a 20% deposit.
Where do I get it? Head over to UBank to find out more >>
Wisr Unsecured Personal Loan
An online-only player shaking up the traditional personal loan market, Wisr offers an array of juicy interest rates starting from just 8.50% and no hidden ongoing fees. Complete with a speedy application and approval process with access to funds on the same day for some borrowers, Wisr makes purchasing your new wheels or starting your next renovation super-simple!
Where do I get it? Head over to Wisr to find out more >>
Moula Business Loan
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 >>
ME frank Credit Card
Sick of paying outrageously high credit card interest rates? The ME frank Credit Card is a low cost credit card with no strings attached. You'll enjoy a low 11.99% variable rate on purchases and be able to take advantage of up to 55 interest free days. Oh, and did we mention there is $0 annual fee, for good?
Where do I get it? Head over to ME 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
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