Best of the Best 2019


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Now in its 18th year, Money magazine's annual Best of the Best issue has narrowed down Australia's best financial products and services for 2019

With thousands of products from hundreds of different institutions, Money - with the assistance of seven research houses - has identified 106 gold-winning products.

Here's a taste of Money's Best of the Best categories and winners for 2019:

december issue money magazine best of the best 2019

Cheapest Home Loans: MOVE Bank (Bank); Reduce Home Loans (Non-Bank)

MOVE Bank nails a super low rate with its Straightforward home loan that lets borrowers get ahead with fee-free extra repayments and free online redraw. Queensland-based Reduce has picked up the top award for the fourth year in a row.

Best Kids Savings Accounts: Police Bank (Bank); BCU (Non-Bank)

Police Bank pays 3% interest for balances over $500 if kids deposit $5 each week and make no withdrawals in a month, and a generous 1.5% for balances over $500 even if those conditions aren't met. BCU's Scoot Super Saver pays 3.5% when at least $20 is deposited each month and no more than $5 withdrawn in the same period.

Best Savings Accounts: RaboDirect (Bank); Easy Street (Non-Bank)

RaboDirect has won this award for the second year in a row, this time for the Notice Saver 31 Day account. This savings account-term deposit hybrid has a base interest rate of 2.50% and allows you to access your cash after giving 31 days' notice. The Easy Savings Online account from Easy Street pays 2% and has no complex conditions.

Best Rewards Credit Cards: HSBC (Bank); American Express (Non-Bank)

Non-banks have again outshone banks on rewards cards. The David Jones card from American Express has risen from second place last year, offering a base rate of two points per dollar spent at David Jones and one point per dollar everywhere else.

Best-Value Mobile Plan - High Usage: TPG

TPG took first place with 10GB for $29.99 a month on Vodafone 4G. Runner-up SpinTel is charging $25.95 for 10GB of data and waiving the $10 activation fee for new users.

Best-Value NBN Broadband Plan: Exetel

Exetel's nbn50 Unlimited plan costs $59.99 a month for unlimited data. A free modem is included but there is a $20 set-up fee. Kogan's Internet Silver Unlimited NBN broadband plan came second.

Best Balanced Super Fund: Hostplus

Hostplus's winning balanced super fund has been the No. 1 performer over one, three, five, seven and 15 years. The asset allocation includes 25% in Australian equities, 20% in international developed equities, 13% in direct property, 8% in emerging markets, 6% in private equity, 6% in alternatives such as hedge funds, and the rest in conservative investments. First Super's Growth option and AustralianSuper's Balanced option rounded out the top three.

Cheapest New Car Loans: MOVE Bank (Bank); Holiday Coast Credit Union (Non-Bank)

MOVE offers loans from $10,000 to $100,000 for vehicles up to 36 months, and you won't be slugged with penalties if the loan is paid out early. Holiday Coast Credit Union has taken out the non-bank award for the second year in a row, allowing extra repayments and offering a redraw facility.

Putting together the perfect suite of financial products takes time, says Money editor Effie Zahos.

"That's where this issue comes in. Best of the Best continues to take the hard work away by awarding and shortlisting the best products available for Australians to consider."

No fewer than seven research houses are involved in bringing this special edition to readers.

"What I like about this awards issue is the transparency," Zahos says. "The methodology is explained next to the tables, so you know exactly how we've come up with the Best of the Best. You may agree or disagree but either way the products in this issue have something that we believe sets them apart.

"How much are you paying for your mortgage? What about your credit card? You'd be mad not to at least have a sneak peek at some of the winners here to compare what you're paying or earning."

The December-January issue of Money ranks everything from credit cards and home loans, to super funds, managed funds and ETFS, plus mobile phone plans and broadband plans.

"What this edition is all about is bringing you low-cost, great-value products that can help you reach your goals," Zahos says.

The Best of the Best issue of Money magazine is available from newsagencies and supermarkets, or you can order it online through Magshop.

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Aimee Susol
January 24, 2019 11.03am

You should reconsider your vote on Exetel as the best NBN provider, maybe you should google all the issues everyone is experiencing and cannot event get it connected let alone speak to someone to get it fixed. People are still waiting 12 months on!

July 12, 2019 12.58pm

Wouldn't it be accurate to call it "Best of the Best 2018"? 2019 isn't over yet.

July 12, 2019 1.18pm

These are the best products and services that readers can take advantage of throughout 2019.

In November we will announce the winners of the Best of the Best 2020 awards, for the best financial products and services for the year ahead.

- Money team

Gerard O'Brien
July 12, 2019 11.41pm

How does Budget Direct get insurance of the year 3 years in a row. They are hopeless obviously you do not insure with them. I did on your recommendation made a claim which was very frustrating and then policy increased by 100% in 2 years. Now realise your recommendation are worthless.

July 13, 2019 11.57am

Hi Gerard,

Thank you for your comment.

We're disappointed to hear of your experience with Budget Direct.

Was the matter resolved? If not, we can also forward your complaint for Budget Direct to follow up.

Budget Direct won 2019 Insurer of the Year because it had the highest total score for car insurance and home and contents insurance, including services based on pricing and claims management.

The Consumer Finance Awards are not always given to the cheapest provider. This is not to be confused with the Best of the Best Awards in November which do have awards for the cheapest product.

Michelle Baltazar
Money magazine

James Franks
November 18, 2019 6.08am

Their prices do increase but claims wise they were great. I made a claim and they delivered. I would recommend them but they may not be cheapest.

July 30, 2019 12.19pm

"In November [2019] we will announce the winners of the Best of the Best 2020 awards..."
That's gonna confuse people.

July 30, 2019 12.38pm

Hi Gary,

You may not be giving our readers enough credit.

This has been the format for 19 years and it is our highest-selling issue each and every year.

As explained, we name the best products and services for readers to take advantage of throughout the coming year. Many Australians take time over Christmas to re-assess their finances, and Money's Best of the Best issue this gives them the tools to do just that.

- Money team

August 9, 2019 1.44pm

When will applications open for Best of the Best 2020?

August 9, 2019 1.52pm

Hi Chris,

Companies don't need to apply to be considered for Money's Best of the Best awards.

Our research teams look for the best products and services on the market.

Please email [email protected] if you have further questions about the process.

- Money team

William Goldsworthy
December 11, 2019 11.22am

Been notified by Budget Direct that they will not renew our Home and Contents Insurance because of "the area we live in" i.e. Aireys Inlet, Victoria (Surf Coast). Very disappointing. Obviously Budget Direct is spooked by the current fires around Australia. It is showing itself to be a Mickey Mouse organisation with no appetite for any incremental risk.