Meet the online lenders saving Aussies millions
15 Jan 2021
These days, Aussies have more choice than ever before when it comes to borrowing money, and as everyone searches for faster, easier ways to control their finances, online lenders are emerging as real challengers to the big banks.
There’s a lot to love about these digital dynamos, including fast online applications, super efficient approval processes and some killer low rates that can mean thousands of dollars in savings every year. Whether you’re looking to save money on your mortgage, buy a property, renovate your kitchen or buy a new set of wheels, there’s an online lender to suit your needs.
So check out the Mozo money editor's pick of some of the best for home loans, personal loans and car loans...
HOME LOANS
loans.com.au Smart Home Loan 80

Low 2.48% variable rate (2.50% comparison rate*)
Free extra repayments and redraw + no upfront or ongoing fees
Mozo Experts Choice Award 2021 - Low Cost Home Loan
Our verdict
Aussie owned loans.com.au has been taking on the banks with low rate online home loans since 2011, and the Smart Home Loan is guaranteed to get borrowers switching. This no-fuss mortgage has all the features you want and none you don’t - you can make unlimited extra repayments and access a free redraw facility, without paying a premium for bells and whistles like an offset account. Plus, they've done away with pesky fees as well. If you’re borrowing $1 million or less and have at least a 20% deposit saved up, the Smart Home Loan really is a smart choice.
Where do I get it? Head over to loans.com.au to find out more >>
UBank UHomeLoan - Discount Offer

New 2.34% p.a. variable and comparison rate*
No upfront or ongoing fees plus free extra repayments and redraw
Flexible payment options
Our verdict
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, an ultra low interest rate and plenty of flexible payment options, the UHomeLoan Discount Offer is pretty hard to argue with. Plus, UBank is backed by NAB so you get all of the savings an online lender can offer, as well as the security of big bank backing. 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 >>
Athena Celebrate Variable Home Loan

New 2.19% variable rate (2.19% comparison rate*)
Free extra repayments and redraw facility
Triple Mozo Experts Choice Award winner for 2021
Our verdict
Online lender Athena is on a mission to save borrowers money on their mortgage, with a customer first commitment and some of the lowest rates around. The Athena Celebrate Variable Home Loan offers the same great rates to new and existing borrowers and charges zero fees. What’s more, the automatic rate drop feature means the more you pay down your loan, the lower your rate becomes. It's available to refinancers and new borrowers purchasing in capital or major regional cities, with a minimum 40% deposit or equity.
Where do I get it? Head over to Athena to find out more >>
PERSONAL LOANS
OurMoneyMarket Low Rate Personal Loan

Unsecured rates from just 6.75% fixed (6.96% comparison rate^)
Free extra repayments and fee-free redraw
Quick and easy 100% online application
Our verdict
OurMoneyMarket offers low rate personal loans for borrowers with excellent credit, with a super fast online application process that guarantees you a decision in just 1 minute. This competitive unsecured loan lets you borrow between $2,000 and $50,000 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.
Where do I get it? Head over to OurMoneyMarket to find out more >>
Symple Loans Personal Loan

Low variable rates from 5.75% p.a. (6.47% p.a. comparison rate^^)
Receive funds in 1 business day
Extra repayments allowed
Our verdict
The unsecured Symple Loans Personal Loan has super-low variable rates from 5.75% p.a. (6.89% p.a. comparison rate^^) on loans between $5,000 and $50,000 with 1-7 year loan terms. Plus, once your online application has been approved, you could have the funds in your account by the very next business day! And if you’re keen to make some extra repayments to get you one step closer to being debt-free, you’ll be happy to know that this loan allows free extra repayments.
Where do I get it? Head over to Symple Loans to find out more >>
CAR LOANS
Wisr Secured Car Loan

5.19% fixed interest rate (5.46% comparison rate*)
No early repayment or ongoing fees
Fast approval between 24-48hrs
Our verdict
Are you in the market for a car loan to get you behind the wheel of your dream car? With Wisr’s competitive fixed loan rates for borrowers with good credit, you’ll be able to borrow between $5,000 and $50,000 to get you on the road sooner. Together with no early repayment fees and no ongoing fees, the Wisr Secured Car Loan could be just what you have been looking for.
Where do I get it? Head over to Wisr to find out more >
^See information about the Mozo Experts Choice Home loans Awards
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