Australia's best banking products

Tuesday 14 September 2010

Article by Mozo

As part of the Mozo 2010 People’s Choice Awards, we’ve given out a bunch of awards to the banks, credit unions and building societies who were rated by you to have the best products in their class. With over 23,000 reviews and ratings, this is certainly a huge stamp of approval for these products.

So without further adieu, let us reveal the awards…

Winner – Australia’s Best Bank Accounts

ING Direct (9.33 out of 10)

Australia’s best bank, and also Australia’s best bank accounts. A match made in heaven. ING Direct’s <#Orange Everyday#BankAccount#90#> account smashed the field with an almost perfect score. A great result for a great account with no fees, and free access to any ATM in Australia for withdrawals of $200 or more.

Winner – Australia’s Best Savings Accounts

UBank (8.91 out of 10)

UBank was a well-deserved winner in this category with the <#USaver#SavingsAccount#127#> account sporting the country’s highest ongoing savings rate of 6.01% – plus if you set up an automatic monthly deposit you’ll be bumped up to 6.51%. That could mean almost $100 more interest each year compared to other standard rate accounts on a balance of $5,000.

Winner – Australia’s Best Home Loans

ME Bank (8.59 out of 10)

Lauded by reviewers for outstanding service (rated 8.7) as well as great pricing and trust (both 8.5) – ME Bank provides discounted home loan rates to members of industry super funds. For such an important product, these scores should help provide reassurance to anyone looking to borrow from ME (or maybe encourage a switch?).

Winner – Australia’s Best Credit Cards

Bendigo Bank (8.02 out of 10)

Apart from a great rating from the Mozo reviewers, taking up a Bendigo credit card could save you a bunch. Compared to the average of all credit cards on Mozo (excluding Gold and Silver cards), the Bendigo Basic Black card will save you almost $150 a year on a balance of $3,000.

For the complete list of winners visit the People’s Choice Awards page.

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