Low-cost loans: 2017 Mozo Experts Choice Personal Loans Awards unveiled

By Tom Watson · · 2 min read
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With summer just days away, Australians will be starting to plan their latest holiday project around the house or overseas trip with the family - but oftentimes these larger expenses require a bit of extra help.

Thankfully the judges here at Mozo have today announced the winners of the 2017 Mozo Expert Choice Personal Loan Awards after comparing 239 personal loans from 73 different providers in order to find the lowest cost personal loans across the country.

Mozo judges handed out awards to low cost loan providers in a number of categories, including for best Secured Personal Loan and best Unsecured Personal Loan, with recipients required to rank within the top 10% of cheapest loans in the Mozo database in order to be eligible. The judges also compared low cost loans for consumers with fantastic credit history in order to award winners in the Excellent Credit Score Category.

With figures showing a substantial 12.23% difference between the lowest (5.34%) and highest (17.57%) personal loans in the Mozo database, Mozo Director Kirsty Lamont stated that the awards proved just how much Australians could potentially save by shopping around.

“Whether you need some extra finance to renovate the back deck or book your flights to Europe, repayments can really begin to add up quickly if you opt for a more expensive loan option,” said Lamont.

“That’s why our Mozo Experts Choice Awards aim to determine some of the lowest cost personal loans on the market - so Australians can fork out less on repayments, and put more of that money they save towards their own projects and plans.”

The awards revealed that shopping around outside of the big banks can often pay off, with customer-owned institutions among the biggest winners in the Secured and Unsecured loan categories, while peer-to-peer and online lenders proved popular with the judges in the Excellent Credit category.

With three personal loans awards to add to its best Used Car Loan Award, customer-owned Police Bank was the standout performer taking out awards in both the Unsecured and Excellent Credit Loans categories.

The Police Bank’s Green Loan also took home the judges award for best Green Personal Loan. With an interest rate of just 6.49%, the Green Loan provides homeowners with a low cost option to fund eco-friendly projects such as installing solar panels or rainwater tanks.  

Thinking of a summer project of your own which could do with a bit of extra funding? Compare all the Mozo Experts Choice winner here, or scroll down to start comparing top personal loan rates now:

Personal Loans

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Last updated 22 April 2025 Important disclosures and comparison rate warning*
  • Low Rate Personal Loan

    Excellent Credit, $5,000 - $75,000, or up to $100,000 for eligible purposes

    interest rate
    comparison rate
    Monthly repayment
    6.57% p.a.to 8.39% p.a.
    7.19% p.a.to 8.75% p.a.based on $30,000
    over 5 years

    Competitive low rates for borrowers with excellent credit on 1-7 year loans from $5,000 up to $75,000 (or up to $100K for home improvements or car loans); 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.

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  • Unsecured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    6.45% p.a.to 26.95% p.a.
    6.45% 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 6.45% would cost $35,176.93 including fees.

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  • Secured Personal Loan

    Fixed

    interest rate
    comparison rate
    Monthly repayment
    5.90% p.a.to 19.19% p.a.
    6.33% p.a.to 20.77% p.a.based on $30,000
    over 5 years

    Competitive rates depending on credit score. No monthly or early repayment fees. No penalties for paying your loan off sooner. Borrow from $5,000 to $80,000. Your choice of 3, 5 or 7 year terms. You will be given the option to use a vehicle as collateral to secure your loan. One upfront fee applies.

    Repayment terms from 3 years to 7 years. Representative example: a 5 year $30,000 loan at 5.90% would cost $35,025.41 including fees.

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  • Debt Consolidation Loan

    $5,000-$75,000

    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.

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  • Ready Credit Personal Loan - 3 Year Fixed Rate, Balance Transfer Offer

    Unsecured

    interest rate
    comparison rate
    Monthly repayment
    6.90% p.a.
    n/a

    Enjoy a competitive rate on the initial balance that you request to be transferred to your bank account within 3 months of approval. Choose your repayments each month above the minimum payment due. Apply online in as little as 10 minutes. Only pay interest on the amount you have used, not on your whole credit limit. A one-off establishment fee of $249. This product is provided by National Australia Bank Limited, using certain trademarks temporarily under licence from Citigroup Inc.

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* 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.

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