Australia’s best personal and car loans for 2021 revealed


Whether you’re looking for a loan to finish your dream home renovation, or have your eyes set on a new set of wheels to get you from point A to point B, find a loan which meets your needs can be confusing with so many options out there.

With interest rates at rock bottom, it seems crazy that so many Australians are paying more than they need to on their personal loans and car loans. So it makes sense to look for the best loan, but where to start?

To make things easier, our 2021 Mozo Experts’ Choice Awards compared over 330 loans from 88 providers to find the crème de la crème of the personal loan and auto loan market. So if you are looking for a loan to reach your goals sooner, here are some of our top picks to get the ball rolling.


Now Finance No-Fee Unsecured Personal Loan
  • Unsecured rates from just 5.95% fixed (5.95% comparison rate *)
  • Additional refunds allowed
  • No initial application fees

Reap the rewards of paying ZERO fees on loans up to $ 50,000 with NOW Finance. This award-winning unsecured personal loan is provided with no set-up fees, ongoing charges or prepayment charges. Plus, you can get your guaranteed, personalized interest rate in two minutes without impacting your credit score.

OurMoneyMarket low rate personal loan
  • Unsecured rates from just 5.45% fixed (6.07% ^ comparison rate)
  • Free additional refunds and possibility of free withdrawal
  • Fast and easy 100% online application

OurMoneyMarket offers low rate personal loans for borrowers with excellent credit, with super fast online application process that guarantees you a decision in just 1 minute. This award-winning competitive unsecured loan allows you to borrow between $ 2,000 and $ 75,000 at a simple fixed interest rate that can be paid off weekly, bi-monthly or monthly over 1 to 7 years. There are no monthly account maintenance fees, no exit fees and no prepayment fees. Winner of the 2021 Unsecured Personal Loan Award from Mozo’s Experts Choice.

Alex Personal Loan
  • Unsecured rates from just 6.44% fixed (comparison rate 6.44% *)
  • Free additional refunds available
  • No fees to prepay your loan

Find out more

If you want to be rewarded for your good credit history, then the Alex personal loan could be just what you were looking for. With competitive low rates starting at just 6.44%, this unsecured loan allows you to borrow between $ 2,100 and $ 30,000 at simple fixed interest. Combined with flexibility, this loan can be repaid weekly, fortnightly or monthly over 6 months to 5 years. There are also no monthly account maintenance fees, no exit fees, and no prepayment fees.

BEST CAR LOANS New car loan
  • Low fixed interest rate of 4.67% (comparison rate of 5.22% *)
  • Additional refunds allowed
  • No monthly service fees

From online lender, Experts Choice’s award-winning new car loan offers a competitive low rate in the market. Not only will your interest repayment be low, but this loan comes with a fixed rate. You will therefore have peace of mind knowing that you will always pay the same regular reimbursement every week, fortnight or month. There are also no annoying ongoing monthly fees to worry about on this loan and if you want to make additional repayments for your balance you can. Clean Green Car Loan
  • Fixed interest rate of 3.97% (comparison rate of 4.51% *)
  • Additional refunds allowed
  • No monthly service fees

With one of the lowest car loan rates in the Mozo database, the award winning Clean Green Car Loan from could be a great option if you are looking to save money. This economical and environmentally friendly loan comes with a competitive fixed interest rate and no ongoing monthly service fees. You will also have the option of making weekly, bi-monthly, or monthly repayments, and you can also make additional repayments if you wish.

* DISCLAIMER: The Comparison Rate combines the interest rate, fees, and charges of the lender into one rate to show the true cost of a personal loan. The comparison rates displayed are calculated on the basis of 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, on the basis of monthly repayments. principal and interest, on a secured basis for secured loans and on an unsecured basis for unsecured loans. This comparison rate applies only to the example (s) given. Different amounts and terms will result in different compare rates. Costs such as redemption or prepayment charges, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

^ See information on the Mozo Experts Choice Personal Loan Awards

Mozo provides general product information. We do not consider your personal goals, your financial situation or your needs, and we do not recommend any specific product to you. You should make your own decision after reading the PDS or offering literature, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you decide to request a product through our website, you will be dealing directly with the supplier of that product and not with Mozo.


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