TAL Life takes the top gong in the 2022 Consumer Finance Awards for its Health Sense and Health Sense Plus programs, both of which are geared towards preventative measures and reward policyholders who are in the habit of getting regular health check-ups.

Rael Solomon, regional managing director of Plan For Life, actuaries and researchers, says TAL scored highly based on a range of factors, including the type of premium discounts it provides, its healthy living rewards and the level of physical and mental health support for policyholders.

Last year the group launched the TAL SpotChecker, a national skin awareness program to help more Australians learn to self-check for possible signs of skin cancer and promote sun-safe practices.

"We've seen first-hand the positive effects that prevention and early detection can have on managing health, and we want to do everything in our power to spread that message," says Priya Chagan, TAL general manager, health services, in the group's annual SpotChecker report.

The group also offers a range of discounts. One incentive is a discount of up to 15% off their accelerated protection life, critical illness and/or TPD insurance premiums if the policyholder's body mass index (BMI) is between a healthy 19 and 28.

TAL Life products can be accessed three ways: directly through the company, through a financial adviser and through a super fund. The group is owned by Dai-ichi Life Group, one of the world's largest insurers with total assets of more than $753 billion.

Last year, the insurer paid $2.7 billion in claims to more than 39,000 customers. It found that the most common reason for accepted claims is mental health conditions, including post-traumatic stress disorder and depression. More than two-thirds of all mental health claims related to loss of income.

Finalists in this category were MetLife for MetLife 360Health, which offers a Q&A feature that allows policyholders to ask medical questions without making an appointment virtually or in person, and MLC Life Insurance for MLC On Track, which offers rewards and discounts for policy holders who meet an annual step target.

If you carry an ongoing card balance, the St.George Vertigo credit card could be a useful choice. It comes with a $55 annual fee, 13.99% rate on purchases and a  minimum credit limit of $500, making this an option for anyone getting their first credit card.

St.George's No Annual Fee card has a 20.74% rate. As well, cardholders enjoy up to 55 days interest free. If you are a cardholder who typically pays off any balance in full each month before interest charges apply, the No Annual Fee card could be a budget-friendly option.

If you're into card-based rewards, St.George has two Amplify Rewards credit cards - Platinum and Signature. Amplify Rewards is a shared rewards program available through St.George, Bank of Melbourne and BankSA (all owned by Westpac).

It lets cardholders redeem points for a variety of rewards, including flights. Both St.George Amplify cards have a purchase rate of 19.49%. The Platinum card comes with a $29 card fee for the first year (a saving of $70). The Signature card has an annual fee of $139 for the first year (saving $140).

The key difference between the two cards lies in the points they earn. The Amplify Rewards Platinum card earns one point per $1 spent on eligible purchases, while the Signature card earns 1.5 points per $1 spent.

If you're chasing Qantas Frequent Flyer rewards, St.George has two Qantas rewards credit cards - Amplify Qantas Platinum and Amplify Qantas Signature - that can be linked to your Qantas Frequent Flyer account. Both have a purchase rate of 19.49% and 55 days interest free.

"We know that credit cards remain a popular option for our customers, so we are delighted our products and St.George have been recognised as Credit Card Issuer of the Year," says Steve Rubenstein, managing director, consumer finance, at Westpac Group.

"Customers are always after value and that's exactly what our product offerings have targeted. Our low-rate, low-fee and rewards credit cards continue to receive great feedback from customers and it's fantastic that the industry has acknowledged this, too, especially in such a competitive market."

Our runner-up, ME Bank, has the Frank low-rate card, which has no annual fee and a purchase rate of 11.99%. It's linked to Mastercard's Priceless rewards program.

Money's other finalist in this category, HSBC, offers four credit cards, with rates starting at 12.99% with the low-rate card. As a plus for travellers, the card charges no overseas transaction fees.

While the tides are starting to turn now, we've seen mortgage rates - particularly variable rates - reach some of the lowest points in years.

Amid this, HSBC has not only managed to offer a range of relatively low-cost home loans compared with its major bank competitors, but it has also kept pace with many non-bank and digital lenders, which have typically provided the sharpest options around.

HSBC is offering variable rates starting from as low as 2.52%pa for loan-to-value ratios (LVRs)below 70% and fixed rates from 4.07%pa on a one-year term for LVRs below 80%.

"We've always aimed to be competitive on interest rates - that's been one of our key principles," says HSBC's head of secured lending, Rory McCotter.

"Lower funding costs last year played a part in helping drive some of those lower interest rates as well. But we wanted to make sure that we were competitive on rates to go along with the strong service proposition that we've got."

In addition to attracting mortgage holders by keeping loan costs low, HSBC has also found success tapping into the booming refinancing market.

Figures from the Australian Bureau of Statistics show that in the year to March 2022, roughly $190 billion worth of loans were refinanced from one lender to another - one of the highest 12-month amounts on record. As McCotter notes, the bank has been aided on the refinancing front by its $3288 cashback incentive.

"A good cashback offer combined with good interest rates has seen us really gain some traction, particularly in the refinance market. I think that's been helped by a lot of customers becoming a bit savvier around their finances as well - so shopping around for better rates and cashback offers."

HSBC is aware of the need to help customers adjust to a new world of climbing interest rates, though.

"For us it's about communication between ourselves and customers, as well as on the broker side," says McCotter.

"We're cognisant of the changing interest rate environment, so we encourage customers to have a conversation about the rise in interest rates and speak to either a relationship manager or their broker."

AMP has placed second this year after performing particularly well with its longer-term fixed-rate home loans.

The bank is currently offering three-year fixed rates from 4.79%pa and five-year rates from 5.04%pa for LVRs below 60%.

Third-placed ING fared well across the home lending space, though its basic home loans were a strong point. The online bank is currently offering variables rates starting at 2.34%pa for LVRs below 80%.

Leveraged Equities has taken the lead among margin lenders again this year.

Working in partnership with Bendigo and Adelaide Bank, it offers a huge listing of 3000 investment products on which it will lend money. Variable-rate margin loans start at 6.5%pa and direct loans start at 4.2%pa.

Since the pandemic lockdown more Australians are focused on investing, according to Leveraged Equities.

It is seeing more interest through brokers and also from direct customers. Investors are seeing value given the buoyant market sentiment and low-interest-rate environment, says Lily Elliott, the head of Leveraged Equities.

The business is one of the longest-operating margin lenders in Australia, celebrating its 30th anniversary this year.

Elliott says both existing and new customers have engaged with the company at unprecedented levels over the past 12 months.

"Further to that, we have continued to invest in capabilities to connect with platform operators to ensure the needs of our partners and their customers' needs met."

It is focused on continuing to provide superior customer and partner service with brokers in addition to evolving its capabilities to meet investor requirements.

"During the last three decades we have experienced and managed through various conditions, including the tech crash, the September 11, 2001, terrorist attacks, the GFC and lastly COVID-19. Each time we have taken the learnings to drive improvements in our offerings and capabilities," says Elliott.

During the pandemic she says investors had lower gearing ratios, but the rapid fall in the value of their portfolios despite healthy diversification could not be avoided. Their response was well-considered: they added equity in the form of cash or shares or sold down part of their holdings.

During this time Leveraged Equities also saw an unexpected number of new entrants wanting to take advantage of the conditions.

"While the margin lending industry is still a far cry from the record levels set pre-GFC, this time there was a much faster recovery," says Elliott.

"Given the surge in the next generation of investors, who are increasingly considering gearing as an option to build their wealth, we are building greater education programs including technology that innovates our offering for diverse levels of investors."

Second in this category is CommSec, part of the Commonwealth Bank group, which offers a full range of products for individuals and self-managed super funds. Its investment list spans all major categories and it also offers a continually expanding set of online trading tools and educational resources. Margin loans start at a competitive 5.5%pa.

Rounding out the top trio is Bell Direct, a complete brokerage offering, with margin loans starting at 5.65%pa.

WHY THEY WON

Positive features included large investment menu and gearing capacity.

TOP PRODUCTS

Variable rate margin loans from 6.5%pa and direct loans from 4.2%pa.

RANKINGS

1. Leveraged Equities

2. CommSec

3. Bell Direct

The pandemic has changed a lot, not least the way people manage their money.

"COVID-19 has accelerated the trend away from cash towards cards and digital payments," says Craig Ralston, ME's group executive, customer banking.

While holding cash in the bank won't provide much of a return these days, having an emergency fund is good financial practice.

"The pandemic has increased households' understanding of the importance of having a stash of savings for emergencies and I think we're seeing savings behaviour increase across the board," says Ralston.

"While alternatives such as the sharemarket can be appealing in the pursuit of higher potential returns, savings accounts like ME's term deposits and online accounts provide customers with security and confidence in receiving an ongoing capital return."

Our winner in this segment, Greater Bank, performed strongly this year in the money minder, credit card and business banking areas.

It was above average in home lending and personal lending and recently launched its Owe to Own product with a one-year fixed interest as low as 1.69%pa (comparison rate of 3.49%pa).

"As a customer-owned bank, we don't have shareholders, which means our profits are reinvested into our business to provide better value products and services and develop our technological platforms to ensure we continue to service our customers well into the future and to foster and support the communities in which we operate," says Matt Hingston, Greater Bank's head of marketing.

"The pandemic presented many of our customers with incredible financial challenges. For some, it was the first time they had ever experienced any sort of hardship. During that time, it was critically important that we continued to support them, which we did by providing several hardship arrangements.

"We wanted our customers to know that when times are tough, we have their back and will get them through it, and when the good times return we will continue to prosper together.

"While much of that financial pressure has eased for customers across our areas of operation, we continue to work with and provide support to those who experience hardship through any life event."

Greater Bank was founded in 1924 from the Newcastle and Hunter River Public Service Starr-Bowkett Building Co-op as a response to economic depression, which put homeownership outside the reach of many people.

In 1945, the co-op became the Greater Newcastle Co-operative Permanent Building and Investment Society, and as it expanded beyond Newcastle its name changed to Greater Building Society and then Greater Bank. It is still a mutual owned by customers.

Greater Bank is investing in technology and developing capabilities to introduce new products and services.

"We are also investing heavily in the digital space. Customers' needs and expectations today and into the future are being driven by advancements in technology and we want to ensure we stay ahead of that," says Hingston.

"Over the last five years we have seen a significant increase in the number of customers using our mobile app to conduct much of their banking. Currently we have nearly 60% of customers using the app each month.

"The advancements in digital wallets are also having a great influence on how people interact with their bank."

Greater Bank edged out Bank Australia and Bank First to secure pole position.

Bank Australia is strong in personal lending and credit cards. It has been carbon neutral since 2011 and is known for its responsible banking. Bank First's strength was in home lending, with mortgages starting at 2.88%pa.

WHY THEY WON

Very strong in money minder, credit cards and business banking.

TOP PRODUCTS

Owe to Own with low 1-year fixed interest rate of 1.69%.

RANKINGS

1. Greater Bank

2. Bank Australia

3. Bank First

Money's Bank of the Year, Suncorp, has also been named Business Bank of the Year for the fourth year running.

According to Alex Dunnin, Rainmaker Information's head of research, business services is where Suncorp is strongest. 
Once again, this year it has the lowest priced business loans, with rates from 2.99%pa and lots of loan products, with a presence in most parts of the country.

To win this category, Suncorp ranked highly across all the major business banking categories of business loans, business transactions and savings accounts for multiple balance accounts and business credit cards. Eligible products were ranked according to interest rates and charges available at the end of March.

Suncorp business banking is known for great service and market-leading value, says Clive van Horen, CEO of Suncorp banking and wealth.

"Our focus is on being there when it matters for customers for the long term, whether helping them with their next purchase or investment or helping them through difficult times like COVID, flood or drought.

"For business banking at Suncorp Bank, we take pride in supporting businesses from small to medium enterprises, commercial, property to agribusiness with their transaction banking, merchant, lending and equipment finance needs, backed by relationship managers with deep industry expertise and experience."

This year Suncorp has invested in its digital capabilities, with face-to-face conversations across its national network of branches or on the phone.

Because of the pandemic, 2020 was a challenging year for all banks, and van Horen says Suncorp worked on helping clients through relief packages such as deferring loan repayments and switching from principal and interest to interest-only loans.

"We welcomed each phase of the federal government's small business guarantee scheme to provide the financial support small business required to navigate, plan and invest in their future," says van Horen.

"It's been a big year and it is clear the recovery will go through its ups and downs, so we will continue to do what we can to help customers in their individual circumstances."

Suncorp continues to have a large presence in agribusiness, and its strength in relationship building helps to keep it on top here.

Our runner-up, AMP, has a Business Saver account that offers a bonus rate of 0.8%pa on top of its base rate for balances up to $1 million. It also has the cheapest home equity investment loans, starting at 3.53%pa.

Bank of Queensland was strong in the money minder category and rated well in home lending, investment lending and business banking.

WHY THEY WON

Highest average ratings across all major business categories.

TOP PRODUCTS

Low-priced business loans starting at 2.99%pa.

RANKINGS

1. Suncorp

2. AMP

3. Bank of Queensland

Budget Direct continues to hold the top spot as it consistently offers among the lowest-priced rates in most of the markets in which it competes. And in markets where it isn't the lowest, it's seldom outside the top three.

This sharp pricing has seen it record one of the fastest rates of premium inflow growth among insurers in Australia - 24% a year, according to the Australian Prudential Regulation Authority (APRA).

What distinguishes Budget Direct is its singular focus on digital marketing and client feedback (which it uses to guide product development), as shown by its extraordinary ability to get customer ratings.

On the independent Product Review website it gets 10 times the rating of its nearest competitor.

Budget Direct doesn't insure everybody, but this is one of the reasons its premiums can remain low.

Combined with its national repairer network, it builds a value proposition that is hard to beat. Budget Direct is also the insurer behind the offerings of Australia Post, ING and Virgin Money.

Alex Dunnin, head of research at Rainmaker, says Budget Direct is a smooth operation.

"The insurance market is brutally competitive with property insurance premiums going up because of climate events. Reinsurers are screwing down on insurers and at the same time the insurers are trying to keep prices as low as possible. Since last year, Budget Direct has had such a great success as a great digital offering it's encouraging a lot of other insurers to focus on their digital offerings."

Jonathan Kerr, chief growth officer at Auto & General, the policy underwriter, says at Budget "we take pride in being able to deliver the full-product service and deliver to the expectations of the customer at a lower price".

The market is becoming more competitive with more options now than there were five or six years ago.

"Many competitors are doing things which probably add complexity and confusion to the customer. We really focus on comprehensive car insurance - you know what you get and tailor it to your needs.

"We are very focused on correctly pricing the risk to the individual and what that means is we have a laser focus on that. We are more responsive to pricing to genuinely good risks.

"I feel that this award is like going to the Olympic Games five times in a row and still winning the gold medal. Once you put together a run of wins everybody is chasing you, the competition gets harder and harder. So the ability to be the Michael Phelps of insurance, to go back and win again and again ... the honour just gets bigger."

Allianz came second in this category. It is the insurer behind Aussie, Hume Bank and National Australia Bank.

Allianz is a full-service insurer that was named  Best Value Home & Contents Insurer in Money's 2021 Best of the Best awards.

Allianz is offering a range of discounts to attract new customers and challenge the market leader's dominance: Allianz's premiums business is growing at 4%pa while Budget Direct is managing 24%pa.

Suncorp, in third spot, is the insurer behind some of Australia's best-known insurance brands: AAMI, Bingle, Carpeesh, GIO, RACQ and Real Insurance.

WHY THEY WON

Consistently sharp pricing resulting in highest take-up of premiums of any insurer.

TOP PRODUCTS

Comprehensive car insurance is the main focus in this category.

RANKINGS

1. Budget Direct

2. Allianz

Suncorp

Credit cards have had to grapple with a pandemic and the conservative spending it has precipitated. Credit card lending declined in April by $300 million or 1.1%, leaving it about 20% below pre-COVID-19 levels.

But while credit card usage is down, the plastic is still holding its own against the disruption posed by buy now, pay later (BNPL).

A survey by the comparison website Mozo found that 52% of people put their 2020 Christmas shopping on a credit card, with only 10% using BNPL.

"Although there has been a lot of hype around the popularity of buy now, pay later services, it seems that when it comes to the crunch credit cards are still one of Australia's most popular forms of payment, particularly for spreading the cost of Christmas," says Mozo director Kirsty Lamont.

The new Credit Card Issuer of the Year is Bank of Melbourne. Its Vertigo card offers a 12.99%pa variable rate on purchases and 0% interest on balance transfers for 28 months, with no transfer fee and a $55 annual fee.

Its frequent flyer Amplify credit cards, meanwhile,  give you up to 0.75 points for every dollar spent on eligible purchases.

Mark Melvin, Bank of Melbourne CEO, believes it's all about matching credit card features to customers' needs - whether it's a low-interest rate, no annual fee, a card with rewards points or a choice of points programs.

"Our customers can choose to apply for, and manage, their card in a way that suits them: either online, in a branch or over the phone or a combination of these options," he says.

"Customers also have peace of mind that access to their funds will be uninterrupted if their physical card is lost, stolen or being re-issued, by adding their card to the digital wallet of their choice, such as Apple Pay and Google Pay.

The repayment options include instalments over time using the Plan&Pay feature.

"This enables Bank of Melbourne customers to repay specific purchases over $200, or a card balance, by splitting it into instalments and making payments over a period of time."

Meanwhile, second placegetter St.George has a 12.99%pa variable rate on purchases for both its low-rate credit cards, Vertigo and Vertigo Platinum. As with Bank of Melbourne, the Vertigo credit card has a $55 annual fee.

In third place, HSBC also offers 12.99%pa on its low-rate card, with 0% interest on balance transfers for 20 months (with a  2% balance transfer fee). The card has a $99 annual fee.

WHY THEY WON

Offers transaction and balance transfers with rates starting at 14%pa in the first year.

TOP PRODUCTS

Its balance transfer credit card is its best offering.

RANKING

1. Bank of Melbourne

2. St.George

3. HSBC

Bendigo Bank won this year with its impressive offerings in home lending, especially in fixed-interest mortgages. Rates start at 2.09%pa, which beats many low-cost fintech competitors.

COVID-19 caused Bendigo Bank, as an essential service, to mobilise its teams rapidly and in different ways to help clients through the pandemic.

"We kept the vast majority of our branches open, redeployed employee resources into critical call centre and mortgage help teams to assist with increased enquiries and asked our corporate employees to work safely from home," says Marnie Baker, Bendigo and Adelaide Bank managing director.

"I am immensely proud of the care and consideration they have shown everyone. Their ability to adapt is a testament to the culture that is fostered at the bank.

"Achieving this also takes deep understanding of a customer's individual circumstances, particularly among our growing small business customer base. Our business banking division achieved the distinction of being named the highest-rated bank for supporting customers through COVID-19.

"We've learned to do more with less, develop workarounds and adapt, so I see this flexibility and ability to respond well to change as a positive, which will ultimately lead to better customer and community outcomes."

Baker says the Bendigo Bank's advantages and eye for market opportunities lie in its strength of purpose, values, strategy and commitment to customers' needs.

"Looking ahead, supported by our growth and transformation strategy, we continue to target above-system residential lending and further growth in the small business and agribusiness sectors, whilst at the same time reducing our cost base and maintaining a strong and resilient balance sheet.

"We are strengthening our operations and improving how we engage customers through increased productivity by driving down costs, and through sustainable investment in new capabilities, particularly in customer experience and digitisation.

"This approach is underpinned by sustainable investment in new capabilities, particularly in customer experience and digitisation. Partnering is in our DNA and our leadership in fintech partnership and history of innovation supports our longer-term growth strategy."

HSBC was the runner-up in this category, showing strength in home lending and investment lending.

Third-placed Macquarie Bank has also been recognised for its fixed-term mortgages. Rates start at 2.57%pa for loan-to-value ratios (LVRs) less than 70% and 2.62%pa for LVRs of 80%. Its variable loans start at 2.53%pa and basic loans at 2.54%pa.

WHY THEY WON

Impressive offerings in home lending, especially in fixed-interest loans.

TOP PRODUCTS

Fixed-interest loans from 2.9%pa, and are the sponsors of many fintech start-ups.

RANKINGS

1. Bendigo Bank
2. HSBC
3. Macquarie Bank

According to the Reserve Bank of Australia, Aussies have racked up $144.7 billion in personal loan debt as of October 2020, with the average fixed rate for a personal loan sitting at 12.46%pa.

That's a lot of interest, which is all the more reason to compare products.

Non-banks get their own award category this year, and for good reason. They secure funds at wholesale prices, which can often translate into better rates for borrowers.

The inaugural award goes to Alex, a 100% digital newcomer to lending.

"We believe that personal lending is such an innovative space to be a part of and ultimately it's the customer's expectations of financial services experiences that has changed," says Alex CEO Simon Beitz.

"Customers expect simplicity, speed and fairness without losing the human touch and that is exactly what Alex aims to be.

"For example, we've seen a lot of property owners approach Alex for funding of small home improvement projects as opposed to obtaining a mortgage increase, which is a cumbersome and timely process and can involve higher interest costs."

Alex offers personal loans from six months to five years, with interest rates ranging from 5.45% to 19.99%. There are no establishment fees, ongoing fees, payout penalties or extra-repayment fees. That's the "what" part of the Alex story, but equally important is the "how".

"Alex brings different leading-edge technologies and partners together to provide safer, simpler and more personalised offerings," says Beitz.

"Our personal loan applications can be completed within three minutes with all necessary information seamlessly and securely collected from customers, resulting in minimal circumstances where Alex needs to ask them for additional information to make a good lending decision. As a result, we can commit to providing customers with a decision on their loan within a business day."

Don't expect Alex to remain in this category for long, however.

"Alex is bit more ambitious than most digital lenders as we're aiming to become a bank so that we can offer customers both lending and savings products," according to Beitz.

"We've kicked things off with a multi-award-winning personal loan and we can't wait to launch our additional offerings in the future."

In second place is loans.com.au, which has five-year car loans for 4.67%pa.

Now Finance rounds out the top three, offering unsecured loans from $5000 to $50,000 with interest rates ranging from 5.95% to 17.95%.

WHY THEY WON

Highest scores across unsecured personal loans over 3 and 5 years; no ongoing fee and no early-payout penalty.

TOP PRODUCTS

Personal loans offered at rates as low as 5.45%pa for loans up to $30,000; 100% digital.

RANKINGS

1. Alex

2. loans.com.au

3. Now Finance

Suncorp has beaten Macquarie Bank and Bank of Queensland to nab this award for the fourth year running.

Clearly it is doing it right.

It has a wide range of loan products with a presence in most parts of Australia and there is an initiative to alleviate hardship in partnership with the Way Forward debt relief charity.

"The market is very competitive and customers are looking for convenient and personalised options to manage their finances and reach their goals," says Clive van Horen, CEO of Suncorp banking and wealth. "By offering market-leading products at competitive rates with unmatched customer service, Suncorp makes a real difference during incredibly important and emotional times for customers looking to achieve their financial goals.

"While we're a smaller bank, we focus on doing the key things well. It's in Suncorp's DNA to care for customers - whether this is in the bank or through our insurance colleagues who are there for customers in the moments that matter. We know our customers are changing the way they bank, with fast growth in digital channels. For this reason, we have invested in our digital capabilities, yet we are still available for face-to-face conversations in our branches or on the phone."

Suncorp introduced a range of measures to help customers through the pandemic.

"We bolstered our support for customers, announcing a historically low fixed home loan rate - a 1.89%pa two-year fixed home loan rate. And we made things easier for our customers by removing a range of fees, including dishonour fees and foreign currency conversion fees on Everyday Options accounts. This followed the previous removal of monthly account-keeping fees, making our day-to-day bank accounts among the best in market," says van Horen.

"Winning in home lending is our top priority and with the strong growth in home loan applications we deployed more team members into operations and support roles to speed up turnaround times. We recently simplified our expense verification process, requiring customers to provide less documentation for loan applications. This means a faster 'time to yes', and builds on our recent introduction of Easy Refinance, Easy Add Loans, Easy Equity Loans and our popular home loan annual fee waiver."

For everyday banking customers, Suncorp has further reduced fees and continues to invest in its app, which has seen strong customer adoption and engagement.

Macquarie, runner-up in this category, continues to be a leading provider in home lending, investment lending and money minding.

Bank of Queensland, rounding out the top three, scored strongly as a money minder and also gets a tick in home lending, investment lending and business banking. Since last year, Bank of Queensland has acquired ME Bank, which gives it an X-factor.

WHY THEY WON

Many loan products with a presence across Australia; lowest-priced business loans.

TOP PRODUCTS

Strong in business banking and home loans; business loans start at 2.99%pa.

RANKINGS

1. Suncorp

2. Macquarie Bank

3. Bank of Queensland

Leading comparison website InfoChoice provided data on a full range of products and services, with analysis and supplementary data provided by Rainmaker Information, to help Money bring you these awards.

BANK OF THE YEAR 
The winner had the highest overall score among bank institutions that competed across six individual categories. Only full-service banks with a national presence were eligible for this major award. The weightings were:
• Home lender 30% 
• Personal lender 20%
• Credit card issuer 20% 
• Money minder 10% 
• Investment lender 10% 
• Business bank 10%
WINNER: SUNCORP

CUSTOMER-OWNED INSTITUTION OF THE YEAR 
The winner had the highest overall score among customer-owned institutions competing across six individual categories. To be eligible for this award institutions needed to be listed as a member of the Customer-Owned Banking Association and have more than $4 billion in assets. The weightings were: 
• Home lender 30% 
• Personal lender 20% 
• Credit card issuer 20% 
• Money minder 10% 
• Investment lender 10% 
• Business bank 10% 
WINNER: GREATER BANK

NON-BANK LENDER OF THE YEAR
The winner was the non-bank lending institution judged by Rainmaker research to score highest across seven core dimensions: product range, business strength, ability to raise lending capital, innovation, corporate transparency, loan quality and customer depth. 
WINNER: LA TROBE FINANCIAL

BUSINESS BANK OF THE YEAR 
The winner was the bank that had the highest average product rankings across the major business banking categories of business loans, business transactions and savings accounts for multiple balance amounts and business credit cards. Eligible products were ranked according to interest rates and charges available at end March 2021. 
WINNER: SUNCORP

HOME LENDER OF THE YEAR 
The winner was the major bank lender offering the highest average product rankings across the major home lending categories of variable, basic home loan, fixed over three and five years and home equity. Lenders had to offer eligible products in at least three categories. Products were ranked according to Annual Average Percentage Rates (AAPR), interest rates and charges available at end March 2021. 
WINNERS: 
BENDIGO BANK (bank) 
REDUCE HOME LOANS (non-bank) 
SYDNEY MUTUAL BANK (customer-owned)

MARGIN LENDER OF THE YEAR 
Lenders were awarded points for positive features, investment menu and gearing capacity (known as LVR) on that menu. The weightings were: 
• Share investor 50% 
• Managed fund investor 50% 
WINNER: LEVERAGED EQUITIES

PERSONAL LENDER OF THE YEAR 
The winner was the bank lender that had the highest average product rankings across the major personal lending categories of unsecured personal loans fixed over three and five years, car loans and debt consolidation loans. Eligible products were ranked according to AAPRs at end March 2021.
WINNERS: 
HSBC (bank) 
ALEX (non-bank) 
MOVE BANK (customer-owned)

MONEY MINDER OF THE YEAR 
The winner was the banking product provider that had the highest average product rankings across the major personal lending categories of savings accounts for low, medium and high balances and term deposits over one, three and five years. Products were ranked according to interest rates and charges available at end March 2021. 
WINNERS: 
ME (bank) 
NEWCASTLE PERMANENT BUILDING SOCIETY (non-bank)  
HERITAGE BANK (customer-owned)

INSURER OF THE YEAR 
This category took into consideration home and contents and 
car insurance and is based on 
the following weightings: 
• Home and contents 50% 
• Car insurance 50%
WINNER: BUDGET DIRECT

CREDIT CARD ISSUER OF THE YEAR
The winner was the credit card issuer offering the highest average product rankings across the major categories of low rates cards, premium cards, transactor cards, transfer balance 
cards and cards that offer rewards programs. 
WINNERS: 
BANK OF MELBOURNE (bank) 
COLES (non-bank)  
BANK FIRST (customer-owned)

INVESTMENT LENDER OF THE YEAR 
The winner was the customer-owned institution offering the highest average product rankings across the major property investment lending categories of variable, fixed over three and five years and home equity. Lenders had to offer eligible products in at least two of the four categories. Products were ranked according to AAPRs, interest rates and charges available at end March 2021. 
WINNERS: 
ADELAIDE BANK (bank)
FREEDOM LEND (non-bank) 
POLICE BANK (customer-owned)

The annual awards help Australians find the top performers in each category so they can bank, borrow and invest with the best.

The awards recognise the leading financial institutions across 21 categories.

Notable award winners were Suncorp (Bank and Business Bank of the Year), Budget Direct (Insurer of the Year), ME Bank (Money Minder of the Year) and Bendigo Bank (Home Lender of the Year).

Suncorp, Budget Direct, ME Bank, Police Bank, La Trobe Financial, Greater Bank, Move Bank, Bank First and Freedom Lend all retained their awards from 2020.

The winners are recognised for their competitive pricing for Australians and consistent focus on the markets they serve.

The collection of winners and finalists are selected after a rigorous data-driven analysis assisted by research leaders Rainmaker Information and data provider InfoChoice.

"With COVID-19 hitting our bank balances hard, your choice of finance provider could make the difference between shaving years of your loan or wearing those mortgage boots for longer," says Michelle Baltazar, editor-in-chief of Money magazine.

"We congratulate our winners for giving more Aussies the chance to fulfil their dreams, whether it's buying property for the first time or financing a small business, through better banking deals."

Julia Newbould, managing editor of Money magazine, congratulated the winners by saying, "it was good to see a lot of winners from previous years still performing at the top of our lists - it shows that they are committed to continuing to look after their members' best interests."

"It was also great to see new players emerge in these competitive categories. A competitive market is always going to be a win for consumers."

The full results of the Consumer Finance Awards are published in the July issue of Money magazine, on sale now.

With thousands of products from hundreds of different institutions, Money - with the assistance of research houses and industry experts - has identified 114 gold-winning products.

Here's a taste of Money's Best of the Best categories and winners for 2020:

Cheapest Basic Home Loan
Move Bank (Bank)
HSC (Major Bank)
Freedom Lend (Non-Bank)

Best Savings Account
Greater Bank (Bank)
AMP (Major Bank)
First Choice Credit Union (Non-Bank)

Cheapest Standard Credit Cards
G&C Mutual (Bank)
Bankwest (Major Bank)
Credit Union SA

Best MySuper Products
AustralianSuper

Best Australian Share Funds
Franklin Templeton

"For most of us, the hardest part of starting a financial makeover is deciding where to begin when considering a change or a new start with financial products," says Money editor-in-chief Michelle Baltazar.

"We recommend you start with three household expenses that take up a big slice of your expenses, such as your home loan, insurance and credit card payments," she says.

Money magazine worked with research houses and industry experts Rainmaker Information (publisher of Money magazine), InfoChoice, WhistleOut and WhichCar to determine the award winners and finalists. The full list of awards is available in the December-January magazine, on sale now.

BUY THE BEST OF THE BEST AWARDS ISSUE

Now in its 15^th year, the awards empower Australians to choose the best financial and insurance product providers.

The Consumer Finance Awards recognise Australia's leading financial institutions across 13 categories.

Bank of the Year - Suncorp

Customer-Owned Institution of the Year - Bank Australia

Credit Card Issuer of the Year - American Express

Money Minder of the Year - ME

Personal Lender of the Year - People's Choice Credit Union

Home Lender of the Year - Greater Bank

Non-Bank Home Lender of the Year - Freedom Lend

Investment Lender of the Year - Newcastle Permanent

Non-Bank Investment Lender of the Year - Freedom Lend

Insurer of the Year - Budget Direct

Business Bank of the Year - Suncorp

Margin Lender of the Year - CommSec

Mobile Banking Provider of the Year - ING

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:

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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"The banking landscape is constantly changing, so it pays to regularly review your needs," says Money editor Effie Zahos.

While the big four banks dominate lending in Australia, controlling more than 82% of loans, only one major bank made the cut in the seven award categories for lending.

Tight competition across all 14 categories demonstrates the strength of financial product offerings in the Bank of the Year 2018 awards.

"We reveal the top performers and their hero products and just how much consumers can save," says Zahos.

"This issue is the annual reminder consumers need to check their home, investment, personal and business loans, and see where they can get a better deal."

Bank of the Year - Suncorp

Customer-Owned Institution of the Year - Bank Australia

Credit Card Issuer of the Year - American Express

Money Minder of the Year - ME

Personal Lender of the Year - People's Choice Credit Union

Home Lender of the Year - Greater Bank

Non-Bank Home Lender of the Year - Freedom Lend

Investment Lender of the Year - Newcastle Permanent

Non-Bank Investment Lender of the Year - Homestar Finance

Insurer of the Year - Budget Direct

Business Bank of the Year - Suncorp

Margin Lender of the Year - CommSec

Mobile Banking Provider of the Year - Commonwealth Bank

With thousands of products from hundreds of different institutions, Money - with the assistance of our research partners - has identified 102 gold-winning products.

Here's a taste of Money's Best of the Best 2018 categories and winners:

Cheapest Home Loans: Bank of Sydney (Bank); Reduce Home Loans (Non-Bank)

Bank of Sydney moved up a spot to take the No. 1 position for its Expect More home loan, which offers both offset and redraw. Queensland-based Reduce has picked up the top award for the third year in a row.

Best Kids Savings Accounts: Hume Bank (Bank); Select Encompass Credit Union (Non-Bank)

Hume Bank's Clancy Koala account has everything kids need: 2.75% bonus interest if they deposit just $10 a month, and no fees. The Select Encompass Credit Union's Kick Start Saver pays a generous 5% for balances up to $5000.

Best Savings Accounts: RaboDirect (Bank); Queenslanders Credit Union (Non-Bank)

The RaboDirect 90 Day Notice Saver has a base interest rate of 2.70%, no fees, and is great for people itching to spend: you can only access your money after giving 90 days' notice. The Queenslanders Credit Union GoSaver has moved up from second last year, with a 2.30% interest rate and the option of secondary accounts to earmark savings.

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

Non-banks have come up trumps on rewards cards, with the HSBC Platinum provides one point for every dollar spent on eligible domestic purchases and two points for international purchases. The Coles Rewards Mastercard notches up two points per dollar spent, rising to $3 at certain retailers.

Best-Value Mobile Plan - High Usage: Moose Mobile

Moose Mobile took first place with 10GB for $34 a month. A relatively new player, Moose has made a name for itself with no-contract, SIM-only plans with unlimited calls and texts.

Best-Value NBN Broadband Plan: Flip TV

In the first year of the NBN award, Flip TV took out the gong for its Family 25 plan, which costs just $59 a month for unlimited data, BYO modem.

Best Balanced Super Fund: Hostplus

Hostplus has returned 11.8% a year for the past five years, with 25% in Australian equities, 20% in developed markets, 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.

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

Beyond Bank offers loans of $25,000 or more with no early payout fees and the option of a free offset account. Paying off your loan quickly should be a top priority.

"The real winners in this awards issue are consumers," says Money editor Effie Zahos.

"By working with seven of Australia's best research houses, Money has put together the ultimate guide of financial products.

"As Aussies head into the silly season there'll be plenty of splurging but also plenty of time over the summer to reflect on where they may be able to save or invest better. This issue cherry picks the very best products and services to help consumers put together their perfect suite of financial products.

"We urge consumers to take the challenge and see if their products stack up with some of these winners. Whether you're looking at big ticket items like home loans or small ones like mobile phone plans, there are savings to be made."

The December issue of Money magazine is in stores now and, in response to demand, it's also available through Magshop for the first time.

See more from Best of the Best 2018 here or grab the December issue for full coverage.

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There's plenty to be excited about with super, says Money editor Effie Zahos.

"Super is your money. Some of us are guilty of forgetting this. But whatever your thoughts on super it has, as Paul Clitheroe, Money's chief commentator, says, all the key elements for wealth creation," Zahos says.

"Even if you personally can't afford to contribute to it there's no excuse for not paying attention to what your employer puts in for you.

"Think of it this way. If you're, say, a 34-year-old male, according to the Assocation of Superannuation Funds of Australia (ASFA) you should have around $36,373 in your fund. Would you turn a blind eye to that if it were sitting in an online saver?

"For women, unfortunately, it's a little less. But there are ways to boost your super without having to put in a cent yourself."

And if you're in the drawdown stage then you'll find plenty of useful information on how to set up and maximise your income.

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Our experts look at where to buy and how to make the most of tax perks, while our First Home Buyers section includes tips for saving a deposit, details of available concessions and grants including the latest housing affordability measures, plus home loan hacks, and a guide to moving in.

"Our 2017 Real Estate Guide couldn't have come at a better time, as the federal budget announced a number of initiatives to address these concerns," says Money editor Effie Zahos.

"This second edition debates some of these proposals (if you're an investor you won't be too happy about the loss of some depreciation perks) while also offering real solutions to building wealth through property. For instance, Bryce Holdaway gives you the mechanics for growing a portfolio over the long term. As he says: 'One investment is not enough to provide a passive income.'

"Terry Ryder shows us where the growth baton is being passed with his state-of-the-nation wrap-up and Margaret Lomas helps us avoid getting stuck with a property that has positive cash flow but never grows," Zahos says.

"Plus this time we've included 69 pages just for first-home buyers. Everything from where to save, where to buy and how to do it is there for your reading."

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Money has teamed up with Canstar to bring you the 2017 Consumer Finance Awards, which names the best providers across 14 categories.

We reveal the hero products that got the top performers over the line, and how much consumers can save.

Now in their 14th year, there are some surprises this time around.

For just the second time in this award's 13-year history, the title of Bank of the Year has been taken out by a bank other than one of the big four.

With most Australians sticking to just one or two banks, consumers need to know they are getting the best deal across a range of products. Money has teamed up with Canstar to bring you the 2017 Consumer Finance Awards, which names the best providers across 14 categories. We can reveal the hero products that got the top performers over the line, and how much consumers can save.

Bank of the Year: Bankwest

Bankwest has been named Bank of the Year for a strong performance across all categories considered but in particular transaction and savings accounts and home loans. It is just the second time in the 13 years of the Consumer Finance Awards that a bank other than the big four has taken out the top award.

Home Lender of the Year: Bank Australia

Home buyers who need convincing that great-value home loans can be found outside the big banks need look no further. Home loan products that are rich in features and competitively priced helped Bank Australia beat out other home loan providers to win the award.

Credit Card Issuer of the Year: Coles

Once again Coles has taken out our award for Credit Card Issuer of the Year, having won last year for the first time. Coles offers a great range of credit cards, including low rate, no annual fee and rewards options.

Insurer of the Year: Budget Direct

A range of competitively priced, superior products, including gold comprehensive car insurance and comprehensive home and contents insurance, helped Budget Direct win this award.

Mobile Banking Provider of the Year: CommBank

CommBank has picked up this award for the seventh year in a row, offering a comprehensive list of features across platforms, allowing customers to experience a seamless transition from desktop to mobile.

For the biggest savings it's hard to go past home loans.

As Mitchell Watson, from Canstar, says, the average standard variable rate is more than 1% higher than the lowest.

Identifying standout asset classes is made all the more easy with our award-winning investment products.

If you're not sure what you're paying for your mobile phone plan, our Best-Value Mobile Phone - High Usage winner costs just $34.95 a month and comes with 8GB of data.

As Watson says: "These awards are about highlighting the products that are leading the wayin their space.

"These are the products that aregoing to help consumers get ahead, be it by having the cheapest home loan or the best-featured online broker to help you make informed investment decisions."

The Best of the Best awards issue would not be possible without the help of seven research houses under the direction of Money deputy editor Maria Bekiaris.

"We've been doing this for 16 years and we pride ourselves on ensuring the methodology reflects our readers' needs, the research houses are the best in the business and, most importantly, you end up with an issue that can help you build your perfect suite of financial products."

With thousands of products from hundreds of different institutions, Money - with the assistance of our research partners - has identified 105 gold-winning products.

Here is a taste of our results. For full coverage, grab a copy of the December/January edition of Money, out now.

-Effie Zahos, Editor

The categories

Broadband

• Best-Value Broadband Bundled Plan
• Best-Value Broadband Plan
• Best-Value Data Plan

Brokers

• Best Feature-Packed Online Broker
• Cheapest Non Advisory Phone Broker
• Cheapest Online Broker

Business products

• Cheapest Business Credit Card - Bank, Non-Bank
• Cheapest Business Transaction Account - Bank, Non-Bank

Car

• Best-Value Family Car
• Best-Value Green Car
• Best-Value Premium Performance Car
• Best-Value Small Car
• Best-Value SUV

Cash accounts

• Best DIY Super Savings Account - Bank, Non-Bank
• Best Everyday Account - Bank, Non-Bank
• Best Kids Savings Account - Bank, Non-Bank
• Best Savings Account - Bank, Non-Bank
• Best Savings Account Regular Deposits - Bank, Non-Bank
• Best Term Deposit Long Term - Bank, Non-Bank
• Best Term Deposit Short Term - Bank, Non-Bank

Credit cards

• Best Frequent Flyer Credit Card - Domestic
• Best Frequent Flyer Credit Card - International
• Best Rewards Credit Card - Bank, Non-Bank
• Best Transactor Credit Card - Bank, Non-Bank

Credit cards

• Cheapest Balance Transfer Credit Card - Bank, Non-Bank
• Cheapest Credit Card - Bank, Non-Bank

ETF

• Best Australian Share ETF
• Best ETF Provider
• Best Income ETF
• Best International Share ETF
• Best Specialty ETF

Fund

• Best Australian Fixed Interest Fund
• Best Australian Share Fund
• Best Fund Manager
• Best Income Fund
• Best International Share Fund
• Best Mortgage Fund
• Best Multisector Fund
• Best Property Securities Fund
• Best Small Companies Fund

Home loan

• Best Reverse Mortgage
• Cheapest Five-Year Fixed Investment Loan - Bank, Non-Bank
• Cheapest Flexible Home Loan - Bank, Non-Bank
• Cheapest Home Loan - Bank, Non-Bank
• Cheapest Home Loan Package - Bank, Non-Bank
• Cheapest Line Of Credit Loan - Bank, Non-Bank
• Cheapest Three-Year Fixed Home Loan - Bank, Non-Bank

Innovation

• Best Innovative Banking Feature
• Best Innovative Retirement Product

Insurance

• Best Featured Income Protection Insurance
• Cheapest Car Insurance
• Cheapest Home & Contents Insurance
• Cheapest Income Protection Insurance
• Cheapest Term & TPD Insurance

Invest Loan

• Best Featured Margin Loan
• Cheapest Margin Loan

Mobile plans

• Best-Value Mobile Plan - Average Usage
• Best-Value Mobile Plan - High Usage
• Best-Value Mobile Plan - International Calls
• Best-Value Prepaid Mobile Plan - Low Usage

Personal loans

• Cheapest New Car Loan - Bank, Non-Bank
• Cheapest Personal Loan - Bank, Non-Bank

Super

• Best Balanced Super Fund
• Best Capital Stable Super Fund
• Best Featured Pension Fund
• Best Green Super Fund
• Best Growth Super Fund
• Best Pension Fund Manager
• Best Super Fund Manager
• Best Value Insurance in Super
• Lowest-Cost Balanced Super Fund
• Lowest-Cost Pension Fund

Money Travel Awards Methodology

As well as flights and hotels, anyone heading overseas needs to think about the best way to take spending money, stay in touch and make sure they are protected but finding the best products can be hard.

Money teamed with research group finder.com.au to do the hard work for you and we're proud to bring you our inaugural Travel Awards.

Money reveals the best products in nine categories. Here is a look at the categories and the methodology. For the list of travel awards winners pick up a copy of the November issue.

TRAVEL MONEY

Best Travel Transaction Accounts

Transaction accounts were excluded from this category if they charged a monthly account-keeping fee that was unavoidable, and those that were not publicly available. Rankings were based on lowest overseas ATM withdrawal fee, followed by lowest overseas (EFTPOS) transaction fee.

Best Travel Money Cards

Rankings were based on the following:

• Exchange Rate (based on the average of two AUD:USD exchange rates checked on September 15tand 16th September 2016) - 25%
• ATM Fee - 25%
• Establishment Fee - 20%
• Reload Fee - 20%
• Number of Currencies - 10%

Best Travel Credit Cards

Rankings were based on the following:

• Foreign currency conversion fee - 30%
• Annual fee (first year) - 20%
• Purchase interest rate - 20%
• Cash advance interest rate - 15%
• Overseas ATM withdrawal fee- 10%
• Number of interest free days - 5%

GLOBAL ROAMING

Best Global Roaming Service

Products were assessed on:

• Cost of 100MB of data (as a typical daily usage figure based on ACMA data)
• Cost of accessing the roaming service, including service fees and additional data bundles
• Cost of making calls to/receiving calls from Australia.

Best International SIM

Products were assessed on:

• Cost of 100MB of data (as a typical daily usage figure based on ACMA data)
• Cost of accessing the service, including SIM cost and general call/bundle costs and duration
• Cost of making calls to Australia
• Cost of sending SMS to Australia

TRAVEL INSURANCE

Best International Travel Insurance

Rankings were based on the following:

• Premium cost (Quotes were obtained on June 3, 2016, for a solo trip for a 30 year old, to travel on January 1-14,2017, to five separate destinations -USA, England, China, Italy and New Zealand. Ski and cruise coverage was excluded.) - 50%
• Overseas medical expenses coverage 25%
• Luggage and personal effects coverage 25%

Best International Travel Insurance Family

Rankings were based on the following:

• Premium cost (Quotes were obtained on June 3, 2016, for a trip for four people aged 35, 35, 5 and 7, to travel on January 1-14, 2017, to five separate destinations - USA, England, China, Italy and New Zealand. Ski and cruise coverage was excluded.) - 50%
• Overseas medical expenses coverage 25%
• Luggage and personal effects coverage 25%

Best International Travel Insurance MultiTrip

Rankings were based on the following:

• Premium cost (Quotes were obtained on June 3, 2016, for an annual worldwide multi trip for a 30-year old to travel from January 1, 2017. Ski and cruise coverage were excluded.) - 50%
• Overseas medical expenses coverage 25%
• Luggage and personal effects coverage 25%

Best International Travel Insurance Family Multitrip

Rankings were based on the following:

• Premium cost (Quotes were obtained on June 3, 2016, for an annual worldwide multi trip for four people aged 35, 35, 5 and 7, to travel from January 1, 2017. Ski and cruise coverage were excluded.) - 50%
• Overseas medical expenses coverage 25%
• Luggage and personal effects coverage 25%

In this second edition of Money's super guide we give an update on the latest changes plus offer strategies to prepare you for it. Plus four experts share their tips on what you should be doing with your super in your 20s, 30s, 40s and 50s.

Despite the changes super still offers amazing tax breaks for most of us.

Strategies to prepare for changes

The government's proposed superannuation changes have certainly proven controversial. Money recaps the proposals, outlines when you can expect things to happen and offers strategies to help you prepare for the changes.

27 key questions answered

Super can seem complex but if you know how it works you can make the most of it to build your savings for retirement. Money answers key questions such as how much extra you can put in, what tax you'll have to pay, when you can access your super and what happens when you retire.

Get the right balance in and out of super

The fact that you can't access super until retirement and all the government tinkering to super make a strong case for building a nest egg outside of super. It's important to get the mix right. Money looks at what you need to consider to get the right balance.

How much super you need

What is the magic number? It will vary depending in the lifestyle you want but with retirement expected to last 20 to 30 years it pays to work out if your savings will go the distance. And if you're not on track don't despair - we have plenty of tips to help boost your retirement savings. And with our Super Booster Day campaign ending on September 15 now is the time to make a pledge to pay yourself forward.

Women and super

Career breaks and lower pay mean building up super can be an uphill battle for women so they have a lot of catching up to do. Money outlines a range of strategies to help women overcome the super shortfall.

Retirement guide

The bonus retirement guide offers tips on preparing for the big day, info on how to access your super plus a rundown on the best places to live in retirement.

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Money's research partner Canstar closely scrutinised more than 15,000 financial products and services from more than 200 financial institutions to come up with our deserving winners.

Which institutions took out the coveted bank, building society and credit union of the year titles and just where does your financial institution rank?

Things move fast in the finance world and last year's winner may not necessarily be this year's best. Money can reveal what products helped get the winners across the line and how much you can save with the top products.

For the 12^th year Money's Consumer Finance awards issue reveals the financial institutions providing customers with top value in 12 key categories, , including Bank of the Year 2016.

Money's research partner Canstar closely scrutinised more than 15,000 financial products and services from more than 200 financial institutions to come up with our deserving winners.

Which institutions took out the coveted bank, building society and credit union of the year titles and just where does your financial institution rank?

Things move fast in the finance world and last year's winner may not necessarily be this year's best. Money can reveal what products helped get the winners across the line and how much you can save with the top products.

Bank of the Year 2016 - NAB

Building Society of the Year - Newcastle Permanent

Credit Union of the Year - Bcu

Home Lender of the Year - Queenslanders Credit Union

Money Minder of the Year - Ing Direct

Credit Card Issuer of the Year - Coles

Personal Lender of the Year - Newcastle Permanent

Business Bank of the Year - Suncorp Bank

Insurer of the Year - Commonwealth Bank

Margin Lender of the Year - Westpac

Non-Bank Lender of the Year - Pacific Mortgage Group

Mobile Banking Provider of the Year - Commonwealth Bank

Maybe it's because it's easy to understand or because governments tend not to play around with it as much as, say, super or the fact that you don't need to be rich to build wealth.

Yes, you need a massive deposit to get started but as our experts show you can build wealth, one home at a time, with an average income.

Negative gearing and depreciation perks mean you could afford an investment property for as little as $30 a week.

To help you become the best possible property investor, Money has rounded up some of Australia's most respected advisers and investors. Everything - from where to buy, how to set up your loans and manage your investments, and the tax perks - is covered in this special edition.

24 key questions answered

Investing in property is a proven way to build long-term wealth. Our guide will point you in the right direction and answer some frequently asked questions such as, what are the benefits of investing in property? Should I buy my first home before investing in property? How much deposit do I need to buy an investment property? Should I pay principal and interest or interest only? What if I want to leave property to my children?

Earn $55K a year in rental income

A carefully structured property portfolio can provide you with all you need for a comfortable retirement. Our strategies show how three typical Australian households can set up a passive income stream for their later years. Too good to be true? Not really. After profiling three household types to see if this is in fact possible by retirement, the conclusion is simple - the typical Australian can do it. Money reveals how...

Property versus shares

Investors will know property and shares can work for you at times but that occasionally they can go against you. If you understand this and are prepared to ride the wave during the good times and brace yourself during the bad times, you should come out in front. Money reveals the pros and cons of both.

Property for $30 a week

Do you have a spare $30 a week? If so you can probably afford to invest in property. Once you take into account the rental income and the tax benefits, buying an investment property is clearly more affordable than many people realise. Three experts come up with three scenarios to cater to a range of investing budgets: $30 a week, $150 a week and $250 a week.

The next hotspots revealed

The best advice for property investors seeking growth in 2016 is to beware of generalisations. Last year ended with a chorus of "the boom is over" articles and with predictions that "Australian property prices" would grow only 4% or 5% in 2016. What they meant (or should have) is that the Sydney boom is over. Whilst Sydney's market may be cooling, there are many other opportunities for the savvy investor.

Investing property through super

Why would you want to invest in property using your personal super fund? Generally speaking the answer is the word "tax". Income earned by the property is taxed at a concessional rate (generally 15%) and the capital gain will also be taxed at a concessional rate (generally 10%) or even, if you have retired and your fund is in pension phase, not taxed at all. We explain how these strategies work and the trouble spots to avoid.

All this and more in the 2016 Real Estate Guide!

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With thousands of products from hundreds of different institutions, Money - with the assistance of our research partners - has identified 109 gold-winning products.

Here's are some of the winners featured on A Current Affair. For a full list of the 109 gold-winning products in more than 70 different categories, grab the December issue of Money.

Best-Value Mobile Plan - High Usage: Kogan Money says: Kogan Mobile has made a comeback after a two-year absence, this time in partnership with Vodafone. And it relaunched just in the nick of time to take out the top spot in this year's high-usage category at a cost of $36.95 per month.

Best-Value Broadband Bundled Plan: SpinTel Money says: SpinTel's Urban Home plan takes the top spot giving you 200GB of data and unlimited Australian calls each month for just $69.95 a month and without tying you to a contract.

Cheapest Home Loans: UBank (Bank); Reduce Home Loans (Non-Bank) Money says: UBank has topped the banks for the fourth time in a row, offering all the flexibility you need, with no application fees, or fees for redraw and loan adjustment. Reduce Home Loans has the cheapest rate in town.

Best Balanced Super Fund: CareSuper Money says: It is the first time CareSuper has won this award. Good returns from a wide range of investments, including private equity, infrastructure, shares, property and fixed interest, contributed to the fund's performance.

Cheapest Credit Card: Me Bank (Bank); Quay Credit Union (Non-Bank) Money says: Fees are almost as important as the interest rate when you're looking at credit cards. Our non-bank winner, Quay Credit Union, might have a cheaper rate than bank winner ME but its annual fee makes it a touch more expensive. That said, both offer great value for customers who don't pay off their card in full and live in constant debt.

A star line-up puts in months of hard work to determine our annual Best of the Best awards.

CANSTAR

CANSTAR is Australia and New Zealand's most comprehensive specialist research service in consumer and business finance. Its talented team of 60 provide a range of services, including researching products offered by more than 200 institutions - home loans, savings accounts, credit cards, rewards programs, margin lending, personal and car loans, business banking, life insurance and car insurance. Research results are freely available to the general public, who can use the star ratings as a guide to product excellence - CANSTAR's website has more than 3 million visits a year. CANSTAR is neither owned nor controlled by financial institutions, nor does it sell financial products.

How we chose the winners for the banking awards: CANSTAR crunched the numbers behind all the banking awards. It also ran the data on home and contents insurance and personal insurance as well as investment loans and brokers. Where appropriate, a combination of six-month historical averages and current rates was used. This way the best savings account, for example, was not simply one that happened to have a good rate on a particular day but rather one with a proven track record.

The methodology for each of the awards can be found next to the tables. The rankings used data as at September 1, 2015, with the exception of Best Savings Accounts, Best Term Deposits (Short-Term and Long-Term) and Best DIY Super Savings Accounts, which were as at October 27, 2015. "Current" rates were as at November 4, 2015. Where used, historical interest rates were for the period March-August 2015 inclusive.

MORNINGSTAR

Morningstar is a leading provider of independent investment research in North America, Europe, Australia and Asia. It offers an extensive line of products and services for individual investors, financial advisers, asset managers and retirement plan providers and sponsors. It provides data on more than 500,000 investment offerings, including stocks, mutual funds and similar vehicles, along with real-time global market data on more than 16 million equities, indices, futures, options, commodities and precious metals, in addition to foreign exchange and treasury markets. Morningstar also offers investment management services through its advisory subsidiaries, with more than $US180 billion in assets under advisement and management at June 30, 2015. It has operations in 27 countries.

LONSEC

Lonsec's core research focus is on enabling better investment outcomes through delivering investment intelligence and insight to financial intermediaries such as financial advisers, fund managers and superannuation funds. Its experienced research team provides timely and in-depth financial product research and ratings, across the spectrum of listed and unlisted investments, and portfolio construction guidance and solutions. Lonsec Research is a wholly owned subsidiary of Lonsec Fiscal Holdings, a privately owned and independent entity with a multi-brand strategy of providing financial services research, advice and investment execution.

ZENITH

Zenith Investment Partners is Australia's leading independently owned investment research provider, dedicated to the delivery of premium investment research solutions for financial advisers, other investment intermediaries and their clients. Established in 2002, Zenith is 100% owned by its directors and key members of staff. It provides "advice-based" solutions to match a client's unique business requirements. The key services Zenith offers are: online research, including data on more than 4500 funds, economic and asset class reports, detailed performance analysis tools and model portfolios.

SQM RESEARCH

SQM Research is one of Australia's most respected property research companies, specialising in roviding accurate property-related information, ratings and forecasts. It focuses on residential property research and the performance of real-estate-related managed funds. Its investment products research for its wholesale clients uses a proprietary review and star-rating system. Only licensed financial advisers may use the SQM Research star-rating system in determining whether an investment is appropriate to a person's particular circumstances or needs. SQM has been an official rater of managed investment schemes since 2007 and, while perhaps better known for its residential property research, its ratings sector is a core and integral part of its business.

How we chose the winners for the managed funds category: MORNINGSTAR, LONSEC AND ZENITH were responsible for providing the ratings for all managed funds -except Best Mortgage Fund, where we combined SQM Research ratings with those from Lonsec and Zenith, and Best Property Securities Fund, where we combined all four research houses - and ETFs. We asked all research houses to nominate their highest-rated funds and ETFs: no fewer than four stars for funds and "silver" for ETFs by Morningstar; "recommended" and better from Lonsec and Zenith; and four stars-plus from SQM Research. Funds qualified only if they were open to new investment and had a minimum initial investment of $25,000 or less. Funds and ETFs were then ranked according to a points system. For example, a fund or ETF that was "highly recommended" or had five stars scored five points and one that was "recommended" or four stars scored four points. We then applied further filtering.

The Best Fund Manager and Best ETF Provider were chosen by allocating points based on individual managed fund and ETF categories. Fund managers were awarded five points for every gold win, three points for every second place and one point for third. Again a further filtering process was applied.

Morningstar provided the data for the tables. The performance data and ratings are both as at September 30, 2015.

SUPERRATINGS

SuperRatings is an independently owned Australian company dedicated to superannuation research. It has been active in highlighting the need for increased transparency within the industry and promoting healthy competition. SuperRatings does not charge funds to be rated and its business model is purely fee for service.

How we chose the winners for the superannuation categories: SUPERRATINGS crunched the data for this year's superannuation categories. It assessed more than 320 major super products and 170 pension products. The primary determinant of the ratings is the ability of a fund to provide value. The Best Super Fund Manager award is given to the fund that provides the best overall value to members during their accumulation phase, while the Best Pension Fund Manager award highlights the fund that has provided exceptional value to members during retirement. SuperRatings takes into account investment performance, fees, insurance, service delivery, member education, financial planning facilities, education, employer support, fund governance and product flexibility. The judging is mainly based on quantitative analysis but does contain a qualitative overlay drawn from extensive site visits and discussions with funds. Returns are as at June 30, 2015, after fees and taxes.

WHISTLEOUT

WhistleOut is an independent private company started in 2008. It provides easy-to-use comparisons in areas of increasing complexity, such as mobile phone plans and broadband. WhistleOut attracts more than 1.5 million users a month from Australia, the US, UK, Canada and New Zealand.

How we chose the winners for the mobile plan and broadband categories: WHISTLEOUT helped with the mobile plan and broadband categories. The methodology for each award is with each table. A service filter was applied, based on Telecommunications Industry Ombudsman (TIO) complaints. Providers with 50% more complaints than average - 35 complaints per 10,000 subscribers by current statistics - were excluded from consideration. Data is correct as at October 21, 2015.

JAMES WHITBOURN - Best value cars category

Money recruited our regular Driving Passion contributor and long-time motoring journalist to bring you the best-value cars.

How we chose the winners:

• A subjective driver rating (out of 10) indicates how a particular car makes you feel when you drive it.
• Official fuel consumption and emissions data, as rated (out of five) by the official Green Vehicle Guide.
• Comprehensive insurance as provided by AAMI, based on a 35-year-old resident of Sydney's Chatswood who has an immaculate driving record and requires no finance.
• Resale ratings after three years provided by RedBook.

Super is an amazingly powerful wealth-creation and preservation weapon for many millions of Australians. Anything over $37K and we pay tax, including the medicare levy, at a rate of 34.5%. Above $80K it becomes 39% and anyone fortunate enough to earn over $180K pays 49% on income above that.

Yet for anyone earning under $300K, our money can go into super from our pay at a tax rate of 15%. For someone earning $100K and salary sacrificing, say, $20K into super, after the 15% tax they would have $17K invested in super and pay only 15% tax on earnings inside the fund.

Compare that with having normal tax taken out and ending up with $12,200. It has all of the key elements for wealth creation. And inside a super fund pre-retirement, earnings are taxed at 15%. Once we move to a retirement pension phase there is no tax on earnings. So super is a highly tax-effective investment!

On sale Thursday August 13, 2015, here's a little taste of what's in Your 2015 Super Guide .

Comparison websites

Most Australians don't know how their super or pension fund compares with other funds.

But you can find out by doing your own research or using a ratings website. You may discover something vital - such as fees, insurance or investment returns - that could impact your long-term wealth. Money reveals how to check whether your super fund is doing a good job or not.

13 ways to boost your super balance

If you act early, a few simple strategies can boost your super by tens of thousands of dollars.

It's a concessionally taxed savings structure designed to fund your retirement and you have plenty of choice as to where and how it's invested, so take control today, learn a few little tips and reap the massive benefits by being on the front foot.

Common mistakes: five traps to avoid

Contributing to super is a great way to save but it pays to be aware of the rules as there are penalties for getting it wrong such as accidentally going over your non-concessional contribution limit.

Money asks the experts to reveal the five common mistakes they see people making with their super and how to avoid them.

Fast-track you kid's super

$20 into your kid's super fund each week would make them eligible for a $500 government handout.

Over a working life their one-off $1000 contribution, plus the $500 from the government, could grow to over $10,000, even on a modest return of say just 5%.

Setting up an SMSF: The dos and don'ts

Self-managed super funds (SMSFs) have really taken off in Australia, with more than 1 million Aussies now a member of a DIY fund. But it's important to remember that SMSFs are not for everyone. Money provides a handy guide on the dos and don'ts of setting up an SMSF.

25 key super questions answered

If you know how the super system works, you can make the most of the opportunities to maximise your retirement savings.

Money answers key questions such as choosing what fund your contributions go into, other perks your fund may provide and how safe is your super?

Smart strategies 20's, 30's, 40s, 50+ - How you can retire on $65K a year

In your 20's, a decision you make now could make the difference of you retiring early or working until you are 80. In your 30's, you might be paying off a mortgage and this should still be a top priority.

But, depending on your family income and the size of your loan, you may still be able to reduce your mortgage and top up your super at the same time. In your 40's - this is a crucial time for building up your retirement savings but make sure you get the home loan under control first.

In your 50's, you're cruising towards retirement so it's time to get the asset mix right and to maximise your contributions to make sure you can fund your dream lifestyle. Money reveals smart super strategies for different stages of life.

Six steps to take before you retire

If you are counting down the years until you stop working, you will need a stockpile of money for a retirement that can stretch for 30 years.

Once the mortgage is paid off, it's time to get serious about building up enough wealth to become financially independent. So Money has devised a six-point checklist to help you get ready for retirement.

Accessing your super

When the time is right you can take your super as a lump sum or pension but make sure you follow all the rules.

Because super attracts generous tax concessions, there are strict rules on when and how you can access your money - and severe penalties if you try to dip into the pot before you're entitled to. And should you take your entitlement as a pension or a lump sum?

All this and more in Money's special edition, Your 2015 Super Guide

Now in its 10^th year Money's Consumer Finance Awards issue - judged with the help of our research partner Canstar - reveals some exciting results in 13 different categories including Credit Union of the Year, Building Society of the Year, Home Lender of the Year and Credit Card Issuer of the Year.

"After 10 years running this awards edition, it's always great to see consecutive winners, as it demonstrates a continued commitment to staying at the cutting edge of the industry on both price and features," says Money editor Effie Zahos.

Bank of the Year: CBA

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: CUA

Home Lender of the Year: ANZ

Business Bank of the Year: CBA

Money Minder of the Year: Bankwest

Non-bank lender of the Year: State Custodians

Margin Lender of the Year: CommSec

Personal Lender of the Year: Newcastle Permanent

Socially Responsible Institution of the Year: Westpac (bank), Community Mutual Group (Mutual)

Credit Card Issuer of the Year: Mutuals (Catalyst Money, CUA, FCCS Credit Union, Illawarra Credit Union NSW, IMB, My State, QT Mutual Bank, Queenslanders Credit Union, Unicredit)

Insurer of the Year: AAMI

Banking Website of the Year: CBA

Now in its ninth year Money's Consumer Finance Awards issue - judged with the help of our research partner Canstar - reveals some exciting results in 13 different categories including Credit Union of the Year, Building Society of the Year, Home Lender of the Year and Credit Card Issuer of the Year.

The top products from the winning institutions are highlighted in this special awards issue.

"The beauty of these awards is that the methodology is transparent and consistent, but not so rigid that it can't be changed to fit what you, the consumer, want," says Money editor Effie Zahos.

Bank of the Year: CBA

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: Police Credit

Home Lender of the Year: Newcastle Permanent

Business Bank of the Year: ANZ

Money Minder of the Year: Bankwest

Non-Bank Lender of the Year: State Custodians Mortgage Company

Margin Lender of the Year: CommSec

Personal Lender of the Year: Horizon Credit Union

Socially Responsible Institution of the Year: Westpac (Bank) Community Mutual Group (Mutuals)

Credit Card Issuer of the Year: Bankwest

Insurer of the Year: AAMI

Banking Website of the Year: CBA

There were no consecutive wins in the big three categories this year: Bank of the Year 2012, Credit Union of the Year and Building Society of the Year.

This reinforces the notion that you should never just assume that you are banking with the best.

Consumer satisfaction also played a big part in these categories, with Money for the first time teaming with Roy Morgan research.

Products, features and pricing all change, so don't become complacent.

Other hotly contested categories include Home Lender of the Year, Money Minder of the Year and Credit Card Issuer of the Year.

Bank of the Year: ANZ

Building Society of the Year: Newcastle Permanent

Credit Union of the Year: Community CPS Australia

Home Lender of the Year: ANZ

Business Bank of the Year: CBA

Money Minder of the Year: Bankwest

Non-bank Lender of the Year: State Custodians Mortgage Company

Margin Lender of the Year: CommSec

Personal Lender of the Year: Horizon Credit Union

Socially Responsible Institution of the Year: NAB (listed), bankmecu (unlisted)

Credit Card Issuer of the Year: Bankwest

Insurer of the Year: AAMI

Banking Website of the Year: CBA

Money and research partner Canstar Cannex bring you the best value financial products on the market for 2011.

There is a lot of information out there, so if you're not happy with your current financial institution's products and services, this issue of Money will assist in narrowing down your alternatives.

"The Consumer Finance Awards, including Bank of the Year 2011, are not about finding the cheapest product, but rather the best value," says Money editor Effie Zahos.

"Winners lists are a great start for consumers making their initial shopping lists for financial products. We hope this issue arms you with the information you need to informed decisions."

Bank of the Year: CBA

Home Lender of the Year: NAB

Non- Bank Lender of the Year: State Custodians

Margin Lender of the Year: CommSec

Personal Lender of the Year: Community Alliance

Credit Card Issuer of the Year: CBA

Business Bank of the Year: Westpac

Banking Website of the Year: CBA

Insurer of the Year: AAMI

Money Minder of the Year: Bankwest

Socially Responsible Bank of the Year: Westpac

Building Society of the Year: Hume Building Society

Credit Union of the Year: Victorian Teachers Credit Union

The bank was highly commended in virtually every category and was singled out for offering attractive rates on savings accounts.

Nab came second, while Westpac rounded out the top three.

RAMS Home Loans was named best non-bank lender for the second year in a row with Homestar Finance and Collins Home Loans taking second and third spot respectively.

NAB scored the award for Credit Card Issuer of the Year, while Budget Direct was named Insurer of the Year.

"For the past six years the June issue of Money has played host to the Consumer Finance Awards," says Money editor Effie Zahos.

"This year is no exception and we hope it serves as a timely reminder to all Money readers to ask themselves: where does my bank, building society or credit union rank?"

Bank of the Year: CBA

Credit Union of the Year: Community Alliance CU

Building Society of the Year: IMB Limited

Socially Responsible Bank: NAB

Insurer of the Year: Budget Direct

Home Lender of the Year: ANZ

Credit Card Issuer of the Year: NAB

Non-Bank Lender of the Year: RAMS Home Loans

Personal Lender of the Year: Holiday Coast Credit Union

Money Minder of the Year: CBA

Banking Website of the Year: St George/BankSA

Margin Lender of the Year: CommSec

Business Bank of the Year: Westpac

These difficult economic times have underlined the importance of a strong financial system, as we have in Australia.

"Now in its fifth year, the main of the Consumer Finance Awards, including Bank of the Year 2009, is to push the banks and other financial institutions to provide even better products and services," says Money Effie Zahos.

"This has not been easy with the global financial crisis.

"This special awards edition of Money magazine celebrates those that have delivered exceptional value across a broad range of products while recognising there is still a lot of room for improvement."

The winners of the 2009 Consumer Finance Awards are:

Bank of the Year: Westpac

Credit Union of the Year: Community Alliance

Building Society of the Year: IMB Limited

Credit Card Issuer of the Year: 16 credit unions share the top spot

Money Minder of the Year: Bankwest

Personal Lender of the Year: Holiday Coast Credit Union

Home Lender of the Year: St. George and BankSA

Non- Bank Lender of the Year: RAMS

Margin Lender of the Year: Colonial Geared Investments

Business Bank of the Year: Westpac

Banking Website of the Year: Commonwealth Bank of Australia

Socially Responsible Bank of the Year: ANZ

"There's the emergence of a possible trend of big banks swallowing smaller competitive ones."

In this banking climate, Money's Consumer Finance Awards - including Bank of the Year 2008 - couldn't have come at a better time.

"Products and prices are moving quickly, so it's worth checking on how your products compare with this year's winners," says Andrew Spicer, CEO of Cannex, the research house behind the Consumer Finance Awards.

The winners of the Bank of the Year 2008 awards are:

Bank of the Year: Commonwealth Bank of Australia

Credit Union of the Year: Community CPS Australia

Building Society of the Year: Newcastle Permanent

Credit Card Issuer of the Year: St George/BankSA

Money Minder of the Year: Bankwest

Personal Lender of the Year: Holiday Coast Credit Union

Home Lender of the Year: ANZ

Non-Bank Lender of the Year: Homestar Finance

Margin Lender of the Year: Colonial Margin Lending

Business Bank of the Year: Westpac

Banking Website of the Year: Commonwealth Bank of Australia

Socially Responsible Bank of the Year: Westpac

Seniors Bank of the Year: ANZ

It's true, mortgage fees are less transparent than they've ever been, thanks to the proliferation of exit fees, break fees and account fees.

It's harder for consumers to determine the true cost of a mortgage.

It's also true transaction account fees are higher than in the UK, New Zealand or Canada, and credit card fees just as bad when compared with our international peers.

But back to the good news - Australia's vast banking product universe contains great savings. It just a matter of knowing where to look.

In the June edition of Money we take the guesswork and legwork out of getting the best deal.

Our annual Consumer Finance Awards, including Bank of the Year 2007, celebrate the financial institutions that deliver exceptional value across a broad range of products. They may not necessarily have the cheapest products, but then cheap is not always good.

Here is a sneak peak at some of the winners:

The winner of Bank of the Year 2007

ANZ

The winner of the Building Society of the Year

Newcastle Permanent

The winner of the Credit Union of the Year

Credit Union Australia

The winner of the Non-Bank Lender of the Year

Royal Guardian

The winner of the Best Online Savings Account

Bank: Bankwest

The winner of the Product Innovator of the Year

Westpac

The winner of the Online Lender of the Year

One Direct

Subscribe to Money Magazine by clicking here.

We also thank our research partners Cannex, Australia's leading banking industry research group, for the painstaking effort they put into judging this awards.

Cannex sorted through thousands of products from hundreds of institutions to arrive at the winners and finalists.

"The closeness of some of the awards, particularly for the prestigious title of Bank of the Year, shows just how competitive the industry is," Cannex managing director Andrew Willink says. "And this is very good for all of us who use their products daily."

The winners this year are:

Bank of the Year: NAB

Credit Union of the Year: Savings and Loans CU

Building Society of the Year: IMB Limited

Non- Bank Lender of the Year: Resi

Finance Company of the Year: GE Money

Money Minder of the Year: HSBC

Credit Card Issuer of the Year: St George/BankSA

Personal Lender of the Year: Savings and Loans CU

Home Lender of the Year: ANZ

Margin Lender of the Year: St George

Investment Lender of the Year: Newcastle Permanent

Business Bank of the Year: St George

With thousands of products from hundreds of different institutions, Money - with the assistance of our research partners - has identified over 110 gold-winning products.

Here's a little taste of Money's Best of the Best categories and winners for 2015:

Cheapest Car Insurance: Budget Direct

Money says: Last year's winner in this category, Budget Direct, has taken gold again. Consecutive wins deserves congratulations, as it shows a commitment to being competitive.

Cheapest Home Loans: UBank (Bank); loans.com.au (Non-Bank)

Money says: An intensely competitive mortgage market is forcing down the cost of home loans, and as the winners in this category confirm it pays to look beyond your regular bank for a red-hot rate.

Best Innovative Banking Apps: CommBank, St George and Westpac

Money says: Aside from the basics of mobile banking, this app turns your mobile into a wallet. It allows you to withdraw cash from an ATM directly from your phone and there's a "lock, block and limit" feature that puts security back in the palm of your hand.

Best innovative Banking Apps: St George

Money says: Check and track your account balances before making a purchase and get directions to the nearest St George Group ATM/branch - all from your wrist watch and without the need to pick up your smartphone.

Best Innovative Online Banking Service: Westpac

Money says: Gives you your complete banking picture on one website by enabling you to link non-Westpac bank accounts to the Westpac website. This external accounts functionality is available for 129 institutions across a variety of industries - not just banking. It's a first for an Australian bank to offer.

Cheapest Home Loan Packages: Suncorp (Bank); Gateway Credit Union (Non-Bank)

Money says: Suncorp has streaked ahead this year, rising from third place in 2014 with its Home Package Plus. Gateway Credit Union also packs plenty of extras into its Premium Package.

Best Kids' Savings Accounts: Suncorp (Bank); First Option Credit Union (Non-Bank)

Money says: Suncorp nabbed top spot among the banks. Its account comes with some flexibility, allowing one withdrawal a month. Interest is calculated daily and paid into the account monthly. First Option CU's Kids' Bonus Saver, picks up gold for the second year running.

Best Savings Accounts: Delphi Bank (Bank); Newcastle Permanent (Non-Bank)

Money says: In this low-rate environment, getting a good return on your savings is more important than ever. Of all our contenders, the non-bank winner, Newcastle Permanent Online Savings Account, has the best average two-year return. The same account came up trumps in this category last year too.

Best Rewards Credit Cards: ANZ(Bank); Coles (Non-Bank)

Money says: The clear front runner in this category is the non-bank Coles Rewards MasterCard linked to Coles' flybuys scheme . This card may offer maximum benefit for consumers who regularly shop at participating Coles group outlets, which includes Kmart and Target.

Best Frequent Flyer Credit Cards: NAB (International); NAB (Domestic)

Money says: National Australia Bank has streaked ahead in this card category, nudging out American Express, which had dominated this award for several years.

Best-value Mobile Plans - High Usage: Jeenee Mobile

Money says: For $35 a month on its Large Sim Pack, you receive $650 worth of standard national calls, 3GB data and unlimited texts. A standard national call for two minutes, including flagfall, costs $2.15.

Best-value Broadband Bundled: Exetel

Money says: Exetel, offers a 100GB plan bundled with ExeChat Plus for $59.98 a month. With the ExeChat Plus option, local, national and Australian mobile calls are unlimited.

Lowest-Cost Balanced Super Funds: HOSTPLUS

Money says: HOSTPLUS keeps costs down by using low-cost exchange traded funds (ETFs). In addition to an administration fee of $1.50 a week, there is a low annual investment management charge.

Cheapest Home and Contents Insurance: AAMI

Money says: This year's winning policy provides flood cover for home and contents, and if an insured event damages your home to the extent you can no longer live in it, AAMI will pay for up to 12 months of temporary accommodation while repairs take place.

Cheapest Personal Loans: Victoria Teachers Mutual Bank (Bank); Newcastle Permanent (Non-bank)

Money says: Newcastle Permanent's unsecured personal loan is surprisingly flexible with zero monthly fees whilst Victoria's Teachers Mutual punches above its weight in terms of features.

With thousands of products from hundreds of different institutions, Money, with the assistance of our research partners has identified 102 gold winners.

Here's a little taste of Money's Best of the Best categories and winners for 2014:

Cheapest Home Loan Package: Macquarie (Bank); Newcastle Permanent (Non Bank) Money says: If you're in the market for a home loan, chances are you will be sold a packaged home loan. By packaging up your banking with the one institution you will be on the receiving end of a discount off the standard variable home loan rate up to 1% for the life of the loan.

Best Cash Back Provider Yourshare Money says: Make a cash back provider your broker, sit back and wait for the money to appear in your account! YourShare has managed to stay on top, winning this category in each of the six years it has been awarded a stellar performance.

Best Saving Account: UBank (Bank); Newcastle Permanent (Non Bank) Money says: UBank, the online arm of National Australia Bank, was launched in 2008 and it's wasted no time in establishing its flagship USaver account as having plenty of innovative tools to help a customer build savings.

Best Reward Credit Cards: ANZ(Bank); Coles (Non Bank) Money says: The Coles Rewards MasterCard has been revamped, which helped it move from second spot last year to No. 1 among the non banks. You earn two flybuys points per $1 you spend everywhere you use the card for purchases

Best Frequent Flyer Credit Cards: American Express (International); American Express (Domestic) Money says: AMEX yet again dominates the field, proving that if you want to be rewarded with flights Amex cards can be a great way to go.

Best Unlimited Mobile Plan: ALDI mobile Money says: Are you a bit of a socialite? Then a high usage plan is great if you love a chat, and they're particularly good if you don't have a landline at home and rely on your mobile to stay connected.

Cheapest Broadband Bundled Plans: TPG Money says: This year we've introduced a new category that will help those looking to bundle their broadband and home phone.

Lowest Cost Super Fund: ANZ (Default); HOSTPLUS (Balanced) Money says: ANZ Smart Choice Super has won the lowest cost default category. Members can choose their own investment mix from a limited range or use ANZ's life stage investments which dials down the level of risk as you get older.

Cheapest Non Advisory Phone Broker: First Prudential Markets Money says: FP Markets has taken out this award for the fifth year in a row. Its flexible broking service and unique pricing structure makes them a market leader.

Cheapest Home and Contents Insurance: Budget Direct Money says: Some of the standard benefits with the Budget Direct policy include replacement of locks up to $500, uninsured guests' contents cover up to $500 and credit card cover up to $1000.

Cheapest Car Insurance: Budget Direct Money says: It can offer such low premiums because it is smart about who it insures. "Using smarter questions we identify better drivers, which means we can offer cheap prices to good drivers," Budget Direct says.

Best Value Cars: Holden Commodore (Family); Hyundai Santa Fe Active CRDI (SUV) Money says: Holden's distinctly Euro feel VF Commodore tops our large car list while Hyundai's impressive Santa Fe has garnered rave reviews from urban and off road warriors alike.

A taste of Money's Best of the Best awards: Cheapest Home Loan Packages: HomeSide Lending (Bank); Newcastle Permanent (Non-Bank) Money says: A mortgage rate discount of up to 0.8% if you're prepared to hold a number of key financial products with the same institution - that's the general incentive to opt for a packaged home loan.

Best Term Deposits - Short Term: UBank (Bank); Railways Credit Union (Non-Bank) Money says: If you want the certainty of a fixed return, a term deposit can be appealing. It's a low-risk option free from concerns about market shake-ups.

Best Savings Accounts: RaboDirect (Bank); Railways Credit Union (Non-Bank) Money says: These accounts are typically free and convenient as you can easily transfer money from your transaction account into the online savings account.

Best Reward Credit Cards: ANZ (Bank); American Express (Non-Bank) Money says: American Express dominates this category with four out of the six featured cards having an American Express card link.

Best Frequent Flyer Programs: American Express (International); American Express (Domestic) Money says: The winner's big plus is that you get a free return flight every year.

Cheapest Postpaid Mobile Plan - High Usage: Amaysim Unlimited Money says: Known as 'have a chat' by family and friends? Then Amaysim's $39.90 Unlimited plan is just the ticket.

Best Broadband Plan - Mobile: SpinTel 5GB Money says: Statistically speaking, Australians like to be connected while they're on the move.

Best Balanced Super Fund: REST Money says: An industry fund's strategy pays off as financial turmoil takes a heavy toll on sharemarket returns.

Best Feature-Packed Online-Broker: Commsec Money says: In a competitive field Commsec is still able to lead the pack.

Lowest-Cost Super Fund: First State Super Money says: Economies of scale and a cost-conscious culture ensure members benefit from low fees.

Best-Value Green Car: Toyota Hybrid Camry Money says: Improved economy, performance and safety are strong points in this year's line-up.

Cheapest Home and Contents Insurance: IMB Money says: Recent natural disasters have underlined the need for home insurance.

Our experts highlight the things to come in super, managed funds, ETFs, property and banking. All in all it looks as though 2013 will present some good investment opportunities. To take advantgage of the things to come, you'll need the right investment vehicles. Which is what Best of the Best is all about. A good product means value for money.

But don't just take our word for it. It's important that you agree too - so you'll find the methodology for each of the awards next to the tables in our Best of the Best issue. It's this transparency that we hope helps you determine what products are right for you.

With thousands of products from hundreds of different institutions, Money - with the assistance of our research partners - has identified 103 gold winners.

Here's a little taste of Money's Best of the Best categories and winners for 2013:

Cheapest Home Loans: UBank (Bank); Pacific Mortgage Group (Non-Bank) Money says: What's interesting about UBank's UHomeLoan is that it offers more than just a fee-free redraw facility and flexibility in repayments.

Cheapest three-year fixed home loans: UBank (Bank); EMoney (Non-Bank) Money says: Last year's gold winner, ME Bank, lost out only marginally to UBank, a subsidiary of NAB. UBank's home loans are only available online and for refinancing.

Cheapest Home Loan Package: Suncorp (Bank); Newcastle Permanent (Non-Bank) Money says: The majority of all new mortgages written by the major banks have been packaged home loans. The beauty of a package is a fully featured home loan plus a whole lot of other financial perks at a discounted rate.

Best Cash-Back Provider Yourshare Money says: Did you know cash-back providers can claw back fees and commissions on products such as insurance, superannuation, margin and home loans? Australians are missing out on reclaiming up to $14.5 billion every year!

Best Saving Account: UBank(Bank); Newcastle Permanent (Non-Bank) Money says: In a low-rate environment it's essential to shop around for a decent interest rate on your spare cash. UBank comes up trumps among the banks with a competitive rate and a surprising range of features and sweeteners.

Best Reward Credit Cards: ANZ (Bank); American Express (Non-Bank) Money says: American Express really dominates this category with four out of the six featured cards having an American Express card link.

Best Frequent Flyer Program: American Express (International); American Express (Domestic) Money says: If you're after a good reward credit card, the American Express David Jones Card gives you the most bang for your buck.

Best Frequent Flyer Credit Cards: American Express (International); American Express (Domestic) Money says: AMEX wins both categories for the second year in a row. Accruing points while spending has never been easier.

Best Unlimited Mobile Plan: Amaysim Money says: Amaysim's unlimited plan is perfect for those addicted to their phones.

Cheapest Broadband Plans: aaNet & eftel Money says: Both providers offer a generous unlimited plan for $30 a month!

Best Balanced Super Fund:REST Money says: REST deserves praise for holding on to the top spot in what has been a volatile period for the Aussie sharemarket.

Lowest Cost Super Fund: ING Direct Living Super (Default); HOSTPLUS (Balanced) Money says: HOSTPLUS's ultra-cheap indexed balanced option was a deserving winner in the balanced option category.

Cheapest Non-Advisory Phone Broker: First Prudential Markets Money says: FP Markets has taken out this award for the fourth year in a row. Its flexible broking service and unique pricing structure makes them a market leader.

Cheapest Home and Contents Insurance: Real Insurance Money says: At almost $100 cheaper on average than its nearest competitor, Real Insurance is the clear winner.

Best-Value Cars: Skoda Superb (Family); Mazda CX-5 (SUV) Money says: For the third year we have placed the Superb atop the family car podium.

With help from expert research partners we've cut the field down from tens of thousands of products to just 101 Gold Winners.

Here are just some of this year's Best of the Best award winners:

Cheapest Credit Card:

Bankwest (Bank) Credit Union SA (Non-bank)

Money says: If you don't pay off your card every month these cards are for you.

Cheapest Home Loan Package:

NAB (Bank) Newcastle Permanent (Non-bank)

Money says: Everybody likes a discount which makes these bundles popular.

Best Innovative Product (Banking):

Queensland Teachers Credit Union

Money says: Our winner is a timely new home loan that guarantees that its interest rate will move in line with RBA movements for the life of the loan.

Lowest-Cost Super Fund:

First State Super

Money says: Our winner, First State Super, repeats its appearance by keeping fees down.

Cheapest Mobile Plan High Usage (Prepaid):

Optus

Money says: The winning plan is set to shake up the prepaid market.

Best Value Family Car:

Skoda Supurb 118TSI Ambition ($40,990)

Money says: If you measure family car value by the amount of real estate per dollar the Skoda Superb wagon wins hands down.

With help from expert research partners, we've cut the field down from tens of thousands of products to just 101 gold winners.

"This ever-changing financial landscape makes it vital you keep abreast of the best products for you," says Andrew Spicer, CEO of Canstar Cannex, Australia's No. 1 financial research house, which judged many of the awards in this issue.

Find out how to stay ahead financially in 2010 with our winners!

Cheapest Credit Card:

Bankwest (bank) Satisfac Credit Union (non-bank)

Money says: "Make sure you know all the potential costs of a 'cheap' credit card."

Cheapest Home Loan Package:

HSBC (bank) Heritage Building Society (non-bank)

Money says: "Interest rate discounts for the life of the loan mean packages can offer real savings."

Lowest-Cost Super Fund:

First State Super

Money says: "The winner charges relatively low fees for all super accounts, whether large or small"

Cheapest Mobile Plan - Medium Usage:

Vodafone

Money says: "Our winner offers terrific value and lots of extras."

Best Value Family Car:

Mazda6 Classic ($35,440)

Money says: "Adds style to substance for the school run, shopping centre grands prix and longer holiday drives."

All the winners, and in particular the five major winners - ANZ Savings and Loans CU (SA), IMB Ltd, Yes Home Loans and GE Money, stay well ahead of the pack when it comes to catering for everyday money needs.

Money partnered with research house CANNEX, Australia's leading banking industry research group, which looked at hundreds of institutions and combed through thousands of products.

From conception to awards nights, the process for Bank of the Year 2005 took close to four months.

"Competition is alive and well in the consumer finance industry," says CANNEX managing director Andrew Willink.

"And awards like these drive the institutions to do even better, which is good news for all of us who use their products."

The winners:

Bank of the Year: ANZ

Credit Union of the Year: Savings and Loans CU SA

Building Society of the Year: IMB Limited

Mortgage Originator (Non-Bank Lender) of the Year: Yes Home Loans

Finance Company of the Year: GE Money

Money Minder of the Year: ANZ

Home Loan Lender of the Year: ANZ

Credit Card Issuer of the Year: St George/BankSA

Personal Lender of the Year: Savings and Loans CU SA

Investment Lender of the Year: CBA

Business Bank of the Year: Westpac