Aussies get financial advice from social media, $1.1 billion in unclaimed money & IPCC report findings: This week’s best banking news

By Rhianna Dews · · 3 min read
Fact Checked
Advertiser disclosure
Aussies get financial advice from social media, $1.1 billion in unclaimed money & IPCC report findings: This week’s best banking news
  • 86 400 takes the heat off taking out a mortgage
  • Digital lender Nano hits $100 million home loan milestone
  • Aussies turn to social media for financial advice
  • The federal government reports $1.1 billion of unclaimed money in Australia
  • Optus vs. Telstra NBN plans
  • IPCC report shows Australian energy lags on emissions

All in this week’s best banking news recap: editor’s pick.

86 400 takes the heat off taking out a mortgage

Aussie digital bank 86 400 has just launched its new 85% LVR tier on its home loans. On top of this, the neobank has also ditched Lender’s Mortgage Insurance (LMI) payments for customers who have a 15% deposit or equity.

This is especially great for people looking to borrow with a smaller deposit up their sleeves. The lender has also dropped a number of their other variable and fixed home loan interest rates.

Read full article: 86 400 makes buying or refinancing a property easier for Aussies for the full story.

Digital lender Nano hits $100 million home loan milestone

Speaking of online lenders, just one month after it entered the market, digital home loan lender Nano has just reached $100 million of unconditionally approved loans.

Since its initial launch, Nano has been on a mission to kick outdated lending processes to the curb and give lending as a whole a new look.

With the lender recently revealing that a whopping 80% of its applicants come from ‘traditional’ banks - it’s safe to say Nano’s well on its way to achieving this goal.

Read the full article: Digital disruption paves the way for Nano’s $100m home loan milestone to get the full scoop.

Aussies turn to social media for financial advice

Aussies turn to social media for financial advice

A new UBank study has revealed that Aussies spend nearly $500 each month on discretionary purchases via social media and apps. This equates to an average spend of roughly $6,000 per year.

And if you’d assumed Gen Z’ers were the biggest social media shoppers, guess again.

Interestingly, the study found that the biggest culprits were millennials (aged 25-40), followed by Gen X (aged 40 to early 50s), Gen Z (under 25s), and finally baby boomers (over 50s).

Read the full article: Australians are turning to social media for financial advice and discretionary spending to find out all the nitty-gritty details.

Federal government reports $1.1 billion of unclaimed money in Australia

There’s no better feeling than finding a fiver or a tenner stuffed in the pocket of a jacket you haven’t worn in a while. Now, what if you turned that tenner into $1.1 billion?

According to the federal government, there’s about $1.1 billion in unclaimed shares, investments, bank accounts and life insurance in Australia right now. 

Think there’s some unclaimed money out there that belongs to you? Then check out the article below to find out how you might be able to get it back.

Read the full article: Where is my unclaimed money and how do I retrieve it?

Optus vs. Telstra NBN plans

Optus vs. Telstra NBN plans

The Aussie broadband market can be hard to navigate with so many different options available.

And whether you’re keen on getting an NBN plan with one of the bigger players or a smaller provider - you might find yourself wondering … 

Optus vs. Telstra NBN - which is better?

Read the full article: Optus vs. Telstra NBN plans to compare the two and come to a conclusion yourself.

IPCC report shows Australian energy lags on emissions

If you hadn’t already heard, the Intergovernmental Panel on Climate Change (IPCC) released a report this week that revealed some alarming news regarding global warming, with findings showing a 1.4°C rise in average temperatures in Australia.

The report, which was created by some of the world’s leading climate scientists, found that Australia’s domestic emissions continue to stay high despite an increased uptake in renewable energy sources.

Read the full article: Climate report shows Australian energy lags on emissions and is hurting the planet for a full breakdown.

After a competitive personal loan offer? Then check out our personal loan comparison tool to help you compare options today:

Compare Personal Loans today - last updated 25 April 2024

Search promoted personal loans below or do a full Mozo database search. Advertiser disclosure
  • Mozo Expert Choice Badge
    Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.75% p.a.to 26.95% p.a.
    6.75% p.a.to 26.95% p.a.based on $30,000
    over 5 years

    Borrow up to $50,000 unsecured. Perfect if you earn more than $22,100 p.a. and have good to excellent credit. Multi-year winner of Mozo’s Experts Choice Unsecured Personal Loan Award, 2021, 2022, 2023 & 2024^'

    Repayment terms from 2 years to 7 years. Representative example: a 5 year $30,000 loan at 6.75% would cost $35,430.23 including fees.

    Compare
    Go to site
    Details
  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.76% p.a.to 24.03% p.a.
    6.55% p.a.to 24.98% p.a.based on $30,000
    over 5 years

    Fast, easy and 100% online, this is a low cost loan with no ongoing fees or extra repayment penalties. It's perfect for savvy borrowers with great credit. If you’re over 18 and earn above $30,000, you could qualify (other eligibility criteria may apply).

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.76% would cost $35,173.52 including fees.

    Compare
    Go to site
    Details
  • Featured Product
    Mozo Expert Choice Badge
    Low Rate Personal Loan

    Excellent Credit

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.48% p.a.
    7.19% p.a.to 8.84% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $2,001 up to $75,000, plus free extra repayments. Winner of Mozo's Experts Choice Excellent Credit Unsecured Personal Loan 2024 and Excellent Credit Secured Personal Loan 2024 awards ^. Min. income of 25k after tax, to apply.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
    Go to site
    Details
  • Express Personal Loan

    Secured

    interest rate
    comparison rate
    Monthly repayment
    14.95% p.a.to 27.95% p.a.
    29.30% p.a.to 42.8% p.a.based on $10,000
    over 3 years

    Access fast finance on loans from $5,000 to $25,000 with a Jacaranda Finance Personal Loan. Terms from 24-48 months. Check if you qualify with no impact on your credit score. Enjoy a speedy, online approval.

    Repayment terms from 2 years to 4 years. Representative example: a 3 year $10,000 loan at 14.95% would cost $14,324.71 including fees.

    Compare
    Go to site
    Details
  • Debt Consolidation Loan

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 18.99% p.a.
    7.19% p.a.to 19.39% p.a.based on $30,000
    over 5 years

    Competitive fixed rates on loans up to $75,000 depending on your credit score. Zero monthly account keeping fees, no exit fees and no early repayment fees. Make weekly, fortnightly or monthly repayments, over 1 to 7 years managed entirely online, at any time. Fast and easy, 100% online application.

    Repayment terms from 1 year to 7 years. Representative example: a 5 year $30,000 loan at 6.57% would cost $35,528.12 including fees.

    Compare
    Go to site
    Details

* 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 Personal 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.