2016 Mozo Expert Choice Awards (Banking)
FHBA Services Community partner Mozo, who runs a leading Australian financial comparison website, recently had their experts compare hundreds of different financial products as part of their Expert Choice Awards for 2016. Today we share with you the winners in the banking space relevant to first home buyers.
Best Home Loans
This year, the experts judged home loan providers in two categories, home lender and major bank. The Mozo Expert Choice 2016 award winners were:
- Home Lender of the Year– Newcastle Permanent
- Major Bank Lender of the Year – ANZ Bank
To compare a range of current home loan offers please click here.
Best Bank Account
The competition was tough for the Mozo Expert Choice 2016 ‘Best Bank Account’ award with many bank accounts meeting most criteria points laid out by Mozo. But there could only be one winner:
- Best Bank Account of the Year – NAB Classic Banking
To compare the NAB Classic Banking Account against other transactional bank account options please click here.
Best Savings Account
Online savings accounts are very popular with young Australians thanks to the popularity of internet banking and the attractive returns these accounts offer (usually fee free). The Mozo Expert Choice 2016 Best Savings Account gong went to: ME Bank.
To compare current saving account deals please visit our savings account comparison table.
Best Term Deposits
Are you still saving for a deposit for your first home? Term Deposits are great way to try and boost the return of your savings, though make sure you understand the terms, because a Term Deposit is usually locked away for a fix period of time (and break fees may apply if you choose to terminate a Term Deposit early).
The Mozo Expert Choice 2016 Best Term Deposit provider went to: ME Bank.
To compare current term deposit offers by ME Bank as well as other banks please visit our Term Deposit comparison page.
There are many categories for the Mozo Expert Choice awards. While some consumers love to shop around for the best deal (no matter who the provider is), others prefer to keep all their banking with the one financial institution. If you are the later, what you really want to know is, who is the best bank overall?
Well Mozo have you covered too. For the best bank of the year, Mozo have both an expert choice and a people’s choice award. Here are the 2016 winners:
- Mozo Expert Choice 2016 Bank of the Year: ME Bank
- Mozo People’s Choice 2016 Bank of the Year: NAB
What’s the best home loan for me?
While these awards by institutions such as Mozo are fantastic for keeping the competition between banks strong (as well as informing the public about different options), the truth is there are literally thousands of different home loan products out there.
And there is no such thing as a single best home loan.
Different home loans come with different features which will appeal to different people. It often comes down to you and your circumstances.
First Home Buyers Australia always recommends first home buyers speak to a qualified Mortgage Broker when obtaining their first home loan, as a Mortgage Broker is experienced in comparing different home loan options from different lenders to find a suitable home loan for you. To learn more about how a Mortgage Broker can help you, please click here.
If you would like a complimentary appointment with an FHBA Broker please complete the enquiry form below and an FHBA team member will be in touch.
Source: Mozo Experts Choice Awards 2016