Switching home loans, best online alcohol, Christmas gift card: This week’s best banking news

man in kitchen on home he refinanced
  • How switching your home loan could save you thousands 
  • Need booze for Christmas? Here are the best places to shop online for alcohol 
  • Beem It introduces ‘gift card’ to its app in time for Christmas 
  • Want to open a shared bank account? Neobank 86 400 has just debuted theirs 
  • Watch for these Buy Now Pay Later traps this holiday spending season 
  • 6 financial positives that came from 2020 

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

Refinancing your mortgage: ACCC says it could save you thousands of dollars

A year and two months after Treasurer Josh Frydenberg directed the Australian Competition and Consumer Commission (ACCC) to conduct an inquiry into home loan pricing, the body has released its final report. 

The findings ultimately showed that Aussie homeowners could save thousands by reviewing their current mortgage rate. 

“A significant number of Australian home loan borrowers have not switched lenders for several years, yet they stand to save so much money by doing so,” said ACCC Chair, Rod Sims.

“There are factors standing in the way of home loan borrowers switching lenders, such as a lack of clear and transparent pricing, as well as inconvenience and time costs, but for many borrowers switching will be worth the effort.”

And even a small change in rate can make a huge difference over the life of a home loan. For example, the difference in interest paid on a $250,000 home loan between a variable rate of 3.00% and 3.30% over 20 years would be a decent $9,082. 

Read full article:
Haven't switched home loans recently? The ACCC says you may be losing out on thousands for a full rundown of where rates sit right now. 

2021 Mozo Experts Choice Awards for best Online Alcohol

With the Christmas period well and truly upon us, you may be wondering, ‘where’s the best place to get alcohol online this holiday season?’

Well, we’ve got you covered with the 2021 Mozo Experts Choice Awards for Online Alcohol. 

“The COVID-19 pandemic has meant that more people are turning to online shopping to avoid crowds, and purchasing your beer and wine is no exception,” Mozo’s Experts Choices judge, Peter Marshall said.

“In this year’s awards, we compared 31 online alcohol retailers plus six express delivery services to help Australians find the best places to buy their favourite wine and beer, delivered straight to their front door.”

Some notable 2021 winners were: 

  • Dan Murphy’s: Online Alcohol Retailer of the Year 
  • Just Wines: Online Wine Retailer of the Year 
  • Jimmy Brings: Express Online Alcohol Retailer of the Year  

Read full article: Winners announced in the 2021 Mozo Experts Choice Awards for Online Alcohol for a closer look at the top retailers. 

Beem It introduces gift card ready for Aussie Christmas shoppers

woman sending Christmas gift card using Beem It on her phone

Heard of the payment app, Beem It? Well, whether you have or you haven’t the platform has just dropped a brand new personalised gift card feature. 

Beem It customers can now purchase and send personalised gift cards to friends and family via the app. Plus, recipients don’t need to be a Beem It user to spend the gift card! 

“We wanted to challenge the view that a digital gift card is the less personal option as we believe the gift of choice is actually quite a thoughtful one,” said head of operations at Beem It, Jason Backhouse. 

“To do so, we’ve built the feature with the gifting experience at its core, from allowing users to select from a range of animations reflective of their personal taste. With the digital unwrapping and interactive scratch to reveal functionality, we wanted the gifting experience to feel unique and memorable.”

Read full article:
Neobank 86 400 debuts shared accounts for the full play-by-play on how these new accounts work. 

Buy Now Pay Later for Christmas: what not to do

woman using Buy Now Pay Later for Christmas

There’s no doubt that many Buy Now Pay Later (BNPL) users will be relying on these platforms to spread the cost of Christmas. And that is a savvy thing to do, as long as you don’t fall into any traps. 

In recent Mozo research on BNPL, our team found that late fees on these platforms can range from $3 to $10 per repayment. Plus, there are also extra penalties for late payments that exceed 7 days (which skyrocket to $19.95 per repayment). 

“It’s important to keep track of your spending and make sure you can afford your purchases. It can be easy to make multiple purchases on the platforms, leaving you with a calendar full of small repayments that can all add up,” said Mozo Director, Kirsty Lamont. 

“For example, if you used Buy Now Pay Later to buy $800 worth of Christmas presents in December with your last purchase on Christmas Eve, you could be paying off your presents until 4th February 2021.” 

Read full article:
Aussies warned to watch out for Buy Now Pay Later traps this Christmas to see how BNPL is growing in popularity heading into 2021. 

Check out these 6 financial positives to come out of the whirlwind that was 2020 

Does the entirety of 2020 feel sort of like a blur? You’re not alone in feeling that. 

But rather than end the year on feeling low, let’s look back on 6 financially positive things that came out in 2020: 

  • Home loan rates below 2%
  • Open Banking kicked off 
  • Wholesale energy prices were the lowest in five years 
  • Aussies improved their money habits 
  • Westpac launched a 3% savings rate for young Aussies 
  • NAB and CommBank introduced new 0% interest credit cards. 

Read full article: 6 financially positive things that came out in 2020 for an in-depth look at these 2020 triumphs. 

Ready to start comparing competitive home loan options? Look at these hot deals below!

Last updated 13 May 2025 Important disclosures and comparison rate warning*
What are your home loan needs?
Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • Built by CommBank
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • Promoted

    Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.78 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,927
    Go to site
    • $0 application fee to pay
    • Unlimited additional repayments
    • Apply in as little as 15 minutes
  • Promoted

    Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.
  • Promoted

    Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.69 % p.a.
    Variable
    Comparison rate
    5.70 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)
  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.
  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    5.49 % p.a.
    Fixed 2 years
    Comparison rate
    5.96 % p.a.
    Initial monthly repayment
    $2,836
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options
  • Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.69 % p.a.
    Variable
    Comparison rate
    5.70 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)
  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.69 % p.a.
    Fixed 2 years
    Comparison rate
    6.00 % p.a.
    Initial monthly repayment
    $2,899
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available
  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.65 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • Built by CommBank
    • The first home loan with an increasing discount (conditions apply)
    • No application or banking fees
  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months
  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    Interest rate
    5.74 % p.a.
    Variable
    Comparison rate
    5.79 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • No monthly or annual fees
    • Make extra repayments, access to redraw and pay out early without penalty
    • Choose weekly, fortnightly or monthly repayments
  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.74 % p.a.
    Fixed 2 years
    Comparison rate
    5.81 % p.a.
    Initial monthly repayment
    $2,915
    Go to site
    • $0 application fee to pay
    • Additional repayments up to $20,000/year
    • Apply in as little as 15 minutes
  • Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.78 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,927
    Go to site
    • $0 application fee to pay
    • Unlimited additional repayments
    • Apply in as little as 15 minutes
  • Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.82 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Split loan available
  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Variable
    Comparison rate
    5.83 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.
  • Flex Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.79 % p.a.
    Fixed 2 years
    Comparison rate
    6.07 % p.a.
    Initial monthly repayment
    $2,931
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility
  • Neat Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.84 % p.a.
    Variable
    Comparison rate
    5.86 % p.a.
    Initial monthly repayment
    $2,947
    Go to site
    • Free extra repayments
    • Easy redraw facility
    • No annual fee to pay
  • Flex Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.84 % p.a.
    Variable
    Comparison rate
    6.08 % p.a.
    Initial monthly repayment
    $2,947
    Go to site
    • Multiple offset accounts available
    • Free extra repayments
    • Easy redraw facility
  • Home Loan with Offset

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.88 % p.a.
    Variable
    Comparison rate
    5.89 % p.a.
    Initial monthly repayment
    $2,959
    Go to site
    • Offset and non-offset options for flexible payments
    • No application and monthly account keeping fees
    • Get up to $4,000 cashback (T&Cs apply)
  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.88 % p.a.
    Variable
    Comparison rate
    5.91 % p.a.
    Initial monthly repayment
    $2,959
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options
Showing 16 results from 414 home loans. Use the filters to see more

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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. You can change the loan amount and term in the input boxes at the top of this table. 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.

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.