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Media Release

Financial Spring Clean: Finder Awards reveal best in market

        • The Finder Awards 2020 reveal the best financial products on the market
        • Switch to the winning financial products in four categories and save up to $5,888 a year
        • Finder research shows one in three Australians are stressed about their finances

09 September 2020, Sydney, Australia –Finder is helping financially stressed Aussies overhaul their biggest financial expenses with the announcement of the Finder Awards financial product winners and finalists for 2020.

Over 5,000 products across four main areas including banking, telecommunications, insurance and investments were all put under the microscope during the 12 month assessment period.

Winners who took out multiple categories included household names such as American Express and Bupa:

American ExpressBest Credit Card Provider
Freedom LendBest Home Loan Provider
BupaBest Health Insurer
NobleOakBest Life Insurer

Graham Cooke, insights manager at Finder, said these are the leading products and services that will help consumers save time and money.

"Our team of researchers and experts reviewed and compared thousands of financial, insurance and telecommunications products on the market and put them to the test. Why? So Aussies can make better decisions without having to do the hard work."

"We encourage Aussies to do a quick 'financial spring clean' and compare their current financial products against these award winners. They should find there are some easy savings to be made."

Finder found that by switching to the best product on the market in four main categories - home loans, credit cards, health insurance and mobile SIM plans - Aussies could be saving $5,888 a year.

According to Finder's Consumer Sentiment Tracker, one in three Aussies are stressed about their finances, with the three leading stressors being housing expenses (rent/mortgage), health insurance and credit card bills.

"Sadly, so many Australians are struggling financially due to COVID and reviewing spending on common household bills is a simple and sure-fire way to find some extra savings."

For a full list of the 43 category winners and finalists visit: www.finder.com.au/finderawards

CategoryFinder Award WinnerCompared to (over 12 months)Potential Savings
Home Loan (Owner Occupier - Variable)Freedom Lend Variable Home Loan - LVR <= 80% (Owner Occupier, P&I)4.04% (Big four banks advertised average variable rate)$4,908 per year
Average rate over 12 months: 2.49%(Based on the average loan size of $400,000 and 30 year loan)
Credit Card (Balance Transfer)HSBC Platinum Credit CardPaying off the average balance ($2,836) over 22 months at the average standard card rate of 19.94%.$440 in the first year
BT Period: 22 Months
BT Fee: 0%
Health Insurance (Silver - Hospital)Bupa HI Pty Ltd Mid Hospital $500 Excess - Silver Plus SilverPlusAverage monthly premium: $128$348 a year
Average monthly premium: $99
Mobile - Postpaid SIMCircles.Life 100GB SIM-only PlanAverage cost of a 100GB plan: $54$192 a year
100GB Data / $38 month
Total savings:$5,888 a year

Sources: Finder Awards 2020

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Disclaimer

The information in this release is accurate as of the date published, but rates, fees and other product features may have changed. Please see updated product information on finder.com.au's review pages for the current correct values.

About us

Every month 2.2 million unique visitors turn to Finder to save money and time, and to make important life choices. We compare virtually everything from credit cards, phone plans, health insurance, travel deals and much more.

Our free service is 100% independently-owned by two Australians: Fred Schebesta and Frank Restuccia. Since launching in 2006, Finder has helped Aussies find what they need from 1,800+ brands across 100+ categories.

We continue to expand and launch around the globe, and now operate in the United States and the United Kingdom. For further information visit www.finder.com.au.

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