IMB Bank retains throne as Australia’s Best Personal Loan lender for 2026

Today, Mozo is thrilled to announce  the winners of the 2026 Mozo Experts Choice Awards for Personal Loans. Confirming that non-bank, customer-owned, and regional banks continue to offer Australians superior value compared to their major rivals.

Mozo's expert judges conducted a rigorous analysis of 348 personal and car loan products from 76 lenders across 11 award categories to identify the best value products for Australian consumers in the 2026 awards.

Identifying the best value loans

The Mozo Experts Choice Awards are judged based on objective verifiable facts and analysis, irrespective of a product provider’s commercial relationship with Mozo. The methodology for 2026 involved deep scrutiny to determine the true cost of borrowing.

“Our 2026 analysis was exhaustive, scrutinising 348 personal and car loan products across 76 lenders. We ensure we capture the true cost of borrowing by factoring in the applicable interest rate and all mandatory fees, including application, regular service, and exit fees to provide the most accurate assessment of value available to consumers,” says AJ Duncanson, Mozo’s Data Director and Mozo Experts Choice Awards Judge.

Award categories showcase diverse value

Winners were selected across 11 categories, including specialised options like Green Car Loans and Green Personal Loans, which are specifically designed to encourage environmentally friendly purchases or home improvements. Other categories included Unsecured Personal Loan, Car Loan, Used Car Loan, and various categories tailored for those with Excellent Credit.

IMB Bank repeats overall victory

For the second year in a row, IMB Bank has secured the prestigious Australia’s Best Personal Loans award. IMB Bank achieved more award wins than any other lender in 2026, demonstrating excellence across a variety of crucial categories, including Secured Personal Loan, Unsecured Personal Loan, Car Loan, and Used Car Loan.

"IMB Bank’s performance is remarkable; winning the Australia’s Best Personal Loans award for the second year in a row confirms their consistent excellence in providing competitive value across Secured, Unsecured, and Car Loan products. It is clear from our analysis that customer-owned banks and non-bank lenders are giving the big banks significant competition, especially with highly competitive fee-free or low-fee offerings," Says Duncanson

The overall winners list reinforces the trend identified in previous years: smaller lenders dominate the field.

 Read the full award release and methodology here

Winners List:

Unsecured Personal Loan

• Australian Mutual Bank - Personal Loan (Variable, Unsecured)
• BCU Bank - Freedom Loan (Variable, Unsecured)
• Heritage Bank - Standard Personal Loan (Fixed, Unsecured)
• IMB Bank - Unsecured Personal Loan (Fixed)
• Newcastle Permanent - Personal Loan (Fixed, Unsecured)
• People's Choice - Unsecured Personal Loan (Fixed)
• Qudos Bank - Unsecured Personal Loan (Variable)
• Teachers Mutual Bank - All Purpose Loan (Fixed, Unsecured)
• Firefighters Mutual Bank - All Purpose Loan (Fixed, Unsecured)
• Health Professionals Bank - All Purpose Loan (Fixed, Unsecured)
• UniBank - All Purpose Loan (Fixed, Unsecured)

Excellent Credit Unsecured Personal Loan

• Alex.Bank - Personal Loan (Unsecured, Fixed)
• Great Southern Bank - Unsecured Personal Loan (Fixed)
• ING - Unsecured Personal Loan (Fixed)
• Liberty - Personal Loan (Fixed, Unsecured)
• MoneyPlace - Unsecured Personal Loan (Fixed)
• NOW Finance - Unsecured Personal Loan (Fixed)
• OurMoneyMarket - Low Rate Personal Loan (Exceptional Credit, Fixed, Unsecured)
• Pepper Money - Personal Loan (Fixed, Unsecured)
• Plenti - Personal Loan (Exceptional Credit, Fixed, Unsecured)

Car Loan

• Greater Bank - New Car Loan (Fixed, Secured)
• IMB Bank - New Car Loan (Fixed, Secured)
• MOVE Bank - New Car Loan (Fixed, Secured)
• Police Credit Union - Better Car Loan (Fixed, Secured)
• Queensland Country Bank - New Car Loan (Variable, Secured)
• SWSbank - 5 Year Variable Interest Vehicle Loan
• SWSbank - Fixed Rate Vehicle Loan
• The Capricornian - Car Loan (Variable)
• Teachers Mutual Bank - Car Loan (Fixed, Secured)
• Firefighters Mutual Bank - Car Loan (Fixed, Secured)
• Health Professionals Bank - Car Loan (Fixed, Secured)
• UniBank - Car Loan (Fixed, Secured)

Excellent Credit Car Loan

• Great Southern Bank - Secured Car Loan (Fixed)
• Harmoney - Low Rate Car Loan Excellent Credit (Fixed, Secured)
• Liberty - Personal Loan (Fixed, Secured)
• MoneyPlace - Secured Personal Loan (Fixed)
• MoneyPlace - New Car Loan (Fixed)
• NOW Finance - Secured Car Loan (Fixed)
• OurMoneyMarket - New Car Loan (Fixed, Secured)
• OurMoneyMarket - Secured Personal Loan (Exceptional Credit, Fixed)
• Pepper Money - Secured Loan (Fixed)

Used Car Loan

• Heritage Bank - Car Loan (Fixed, Secured)
• IMB Bank - New Car Loan (Fixed, Secured)
• Police Bank - Driveaway Car Loan (Fixed, Secured)
• RACQ Bank - Car Loan (Fixed, Secured)
• Regional Australia Bank - Accelerator Car Loan (Variable, Secured)
• The Capricornian - Car Loan (Variable)
• Teachers Mutual Bank - Car Loan (Fixed, Secured)
• Firefighters Mutual Bank - Car Loan (Fixed, Secured)
• Health Professionals Bank - Car Loan (Fixed, Secured)
• UniBank - Car Loan (Fixed, Secured)

Excellent Credit Used Car Loan

• Great Southern Bank - Secured Car Loan (Fixed)
• Liberty - Personal Loan (Fixed, Secured)
• MoneyPlace - Secured Personal Loan (Fixed)
• NOW Finance - Secured Car Loan (Fixed)
• OurMoneyMarket - Used Car Loan (Fixed, Secured)
• OurMoneyMarket - Secured Personal Loan (Exceptional Credit, Fixed)
• Pepper Money - Secured Loan (Fixed)

Secured Personal Loan

• Greater Bank - Secured Personal Loan (Fixed)
• IMB Bank - Secured Personal Loan (Fixed, Secured)
• Newcastle Permanent - Personal Loan (Fixed, Secured)
• SWSbank - Secured Personal Loan (Variable)
• The Capricornian - Car Loan (Variable)

Excellent Credit Secured Personal Loan

• Liberty - Personal Loan (Fixed, Secured)
• MoneyPlace - Secured Personal Loan (Fixed)
• OurMoneyMarket - Secured Personal Loan (Exceptional Credit, Fixed)

Green Car Loan

• Bendigo Bank - Green Personal Loan (Fixed, Secured)
• G&C Mutual Bank - Green Car Loan (Fixed)
• Heritage Bank - Green Car Loan (Fixed)
• People's Choice - Green Car Loan (Fixed)
• Queensland Country Bank - Green Car Loan (Variable)
• RACQ Bank - Green Car Loan (Fixed)
• Unity Bank - Green Car Loan (Fixed)

Green Personal Loan

• G&C Mutual Bank - Green Upgrades Loan (Variable, Unsecured)
• Northern Inland Credit Union - Green Loan (Fixed, Unsecured)
• Queensland Country Bank - Green Reno Loan (Variable, Unsecured)
• RACQ Bank - Green Personal Loan (Variable, Unsecured)
• Unity Bank - Green Upgrades Loan (Variable, Unsecured)

To see the full list of winners, and details on how the winners were chosen, you can Read the full award release and methodology here