Meet the online lenders saving Aussies millions

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 buying a home, renovating your kitchen, planning an overseas trip or managing your business expenses, 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 business loans...


Smart Home Loan 80 (Owner Occupier, Principal & Interest)
  • New 2.63% variable rate (2.65% comparison rate*)
  • No application or ongoing fees
  • Unlimited additional repayments and free redraws
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Our verdict
Aussie owned has been taking on the banks with low rate online home loans since 2011, and the new Smart Home Loan is guaranteed to get borrowers switching. The super low variable rate is a bona fide mortgage crusher, and they've done away with pesky fees as well. This no-fuss mortgage has all the features you want and none you don’t - you can make unlimited extra repayments and access a redraw facility, without paying a premium for bells and whistles like an offset account. 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 to find out more >>

UHomeLoan - Discount Offer (Owner Occupier, Principal & Interest)
  • New 2.59% variable & comparison rate* - apply now to get this rate from 3 April
  • No upfront or ongoing fees plus free extra repayments and redraw
  • Mozo Experts Choice Low Cost Home Loan Winner 2019
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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 >>

Mortgage Simplifier (LVR<80%, Owner Occupier, Principal & Interest)
  • 3.03% variable rate (3.06% comparison rate*)
  • No service or application fees
  • Free extra repayments and redraw facility
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Our verdict
Not only is ING one of Australia’s largest direct lenders, they are also Australia’s most recommended bank, and for good reason. An original pioneer of low cost online lending, ING is changing the way Aussies borrow with simple, great value loans direct to customers. The ING Mortgage Simplifier has a great low interest rate for owner-occupiers and charges no ongoing or upfront application fees. Together with free extra repayments and a free redraw facility, it's little wonder that so many borrowers are switching to ING.

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


Low Rate Personal Loan (Excellent Credit) (Fixed, Unsecured)
  • Unsecured rates from just 8.00% fixed (8.21% 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 a great credit history, and a super fast online application process that guarantees you a decision in a speedy 1 minute. This competitive unsecured loan lets you borrow between $2,000 and $50,000 at a handy fixed interest rate that can be repaid weekly, fortnightly or monthly over 1 to 7 years. This personal loan is also free from monthly account keeping fees, exit fees and there are no early repayment fees. 

here do I get it? Head over to OurMoneyMarket to find out more >>


Orange One Low Rate Credit Card
  • Low 11.99% purchase and cash advance rate
  • $0 annual fee or ING international transaction fees for eligible customers
  • 2019 Mozo Experts Choice Award
Find out more

Our verdict
Winner of the 2019 Mozo Experts Choice Award, ING’s Orange One credit card comes with a great low 11.99% p.a. purchase and cash advance rate, no annual fees and up to 45 interest-free days on purchases. Feature packed, this card comes with no annual fees and flexible instalment plans. Plus, enjoy no ING international transaction fees; simply deposit $1,000+ into your Orange Everyday transaction account each month and make 5+ eligible settled card purchases every month.

How do I apply for the card? Online of course!

Want to compare more home loans? View the latest mortgage rates from over 80 lenders at Mozo's home loan comparison hub.

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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, loan amount and term entered. 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.

*** WARNING: 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 calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

^See information about the Mozo Experts Choice Home Loan Awards

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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.