Personal Loan Lender of the Year crowned in Mozo Experts Choice Awards
The annual Mozo Experts Choice Awards winners were announced today, crowning Police Credit Union as Lender of the Year for consistent value across award categories.
The awards analysed 169 personal loan products from 68 Australian financial institutions to find the best value products for Aussie borrowers across several categories, including personal loans, car loans and green loans.
Police Credit Union took out the top gong as Personal Loan Lender of the Year, having won awards across four must-have categories, including for both its used and new car loans, unsecured personal loan and excellent credit personal loan. It also had the highest average product ranking overall.
Other big winners in the awards included:
- Citibank - Different variations of Citibank’s Ready Credit loan swept up a total of four awards.
- Newcastle Permanent - A reliable all-rounder, the Newcastle Permanent Personal Loan was a winner across four different categories
- Police Bank - Saw wins across four categories - and notably, its Green Loan product was the only winner in its category.
- ANZ - Its Online Secured Car Loan* and Unsecured Personal Loan took out two awards each in the Big 4 Bank category.
See the full list of Experts Choice Personal Loan Award winners here.
Finding the perfect personal loan
Interested in funding a renovation, buying a new set of wheels or heading off on an overseas trip? A personal loan might be in your future. Here are some tips on how to make sure you’re getting the most competitive deal:
- Secure your loan.
- If you’ve got a valuable asset, like a house, a car or pricey household items, you may be able to put them up against your loan as security in order to snag a better interest rate.
- Jump online
If you’re comfortable dealing with applications and repayments from behind your laptop screen, some of the best personal loan offers are to be found with online only lenders.
- Bundle products
If you’re ready to apply for other products with the lender as well, like a credit card, home loan or savings account, or if you can bring them across from your old bank, your personal loan lender may give you a good deal for bundling products.
- Compare your options.
Your first step when looking for a personal loan should be to research and compare what options are out there on the market. To make it easier, check out our personal loan comparison tool.
*Product no longer exists (as of 18/12/2018)
* 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
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