Use company reviews to find your ideal lender online

use company reviews to find ideal lender
Use company reviews to find your ideal lender online

Company reviews are a great place to start if you are looking for some additional information on one of your preferred lenders and we’re going to tell you why as well as well as look at the use of loan comparison sites to help find the ideal loan.

Company reviews offers you an opportunity to learn about what drives them, how individual experiences with the lender have been for others and the pros and cons of their products and services.

Checking reviews on lenders & banks

Are you wondering where to look for reviews? Many lenders, especially online lenders, have company reviews online. If they don’t, you can still use Google to find reviews on the company.

It is almost impossible for companies to run away from Google’s rating system and a host of other review platforms available online today. Use it to your advantage to get some insight on the companies you are considering.

What does it mean if a company has been given a five-star rating?

A five-star rating is the highest rating possible a lender can achieve and means that you could probably not go wrong with them. If a lender has a low rating, it serves as a warning that other people have not had a pleasant experience with them.

Many reviews will actually indicate what the reason for the rating was. This could be anything from an overpriced payday loan to bad customer service.

Some lenders might have a three-star rating, which means they have had some good and some bad reviews. No matter the review of the lender, this information is merely there to guide you and ultimately help you decide on a lender best suited to your needs.

Negative comments on loans and lenders

Should you read bad comments of people being declined for personal loans, you should take into consideration that perhaps they were not eligible for a loan and, as a result, they did not get loan approval. This is not necessarily a negative reflection of the lender but people may see it as such.

Company reviews definitely help you make informed decisions but, the choice of lender is still yours to make.

By using company reviews and loan comparison sites, you can easily find the lender that is best suited to your financial needs. And getting your loan is as easy as applying online with your chosen lender.

Use company reviews as a guideline

We recommend that you never choose a lender based on company reviews alone. Some lenders might offer lower loan rates than others.

Perhaps customer service is something that is important to you, or perhaps you prefer a lender that allows you to do everything online – the right lender is out there and you can find them with a little bit of research.

Australia’s leading review sites

  • Bankrate
  • Credit Karma
  • Canstar
  • Mozo
  • Product Review

Finding the right lender using loan comparison websites

Depending on your requirements, there are a host of other things to consider when choosing a lender. Company reviews serve as a guideline only and are there to help the consumer make more informed financial choices.

You may also want to keep in mind that some comparison sites have sponsored listings and advertise certain products as a way to generate income. These sponsored listings are not always the best product on the market or for your needs.

To easily compare lenders, use a loan comparison site. You have instant access to all the important information on the most reputable lenders. It is your gateway to sound financial choices. There is no need to spend hours researching various lenders when a loan comparison site is able to do all the work for you.

Loan comparison calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This loan comparison calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

How to compare loans on loan comparison sites

Comparing loans is a very simple task that is self-explanatory but there are a few things that you should know which will help you avoid common loan comparison pitfalls.

Firstly comparing loans based only on interest rates is unwise and may turn out to be very costly. This is because in addition to the interest rate that we're paying, we also have to consider a range of fees. These may include initiation fees as well as ongoing loan maintenance fees.

To compare loans and lenders accurately try to make use of the APR or Annual Percentage Rate which includes these fees.

In addition to the APR and fees another important consideration is the terms and conditions that will be applicable. If you plan on repaying the loan early, it's crucial to ensure that you will not incur early repayment fees.

Another consideration is whether or not to secure the loan which is a requirement for those who have poor credit or when purchasing a vehicle.

Australia’s leading loan comparison sites


Canstar is one of Australia’s leading loan comparison websites and have comparisons on more than 780 brands. From loans and credit cards to banking and insurance, Canstar can assist you in finding the right product for your needs. They are not only focused on the cost of a loan or product but on the overall value that a customer receives.


Finder is a leading comparison site that offers customers comprehensive information on some of the leading loans and financial products on the market. Their information is accurate and up to date and you can rely on their information to find a product that meets your needs.


Although RateCity has a smaller selection of brands and types of products on their system they offer Australians a quick and easy approach to comparing loans and selecting the most appropriate for your needs. You can compare home loans, personal loans, car loans, credit cards and savings accounts as well as bank accounts and superannuation.


Mozo is well known for being able to assist you in saving money when it comes to electricity and gas but they can also assist in finding and comparing credit products like home loans and business loans. What's more, s that you can read actual reviews from customers on their website to help you decide what option is best.

Popular & reliable direct lenders offering Loan comparison

  1. Finder Loan comparison


    • Membership benefits
    • Multiple categories
    • Discover new things
  2. Mozo Loan comparison


    • Reliable source
    • Rewards benefits
    • International transfers
  3. RateCity Loan comparison


    • Daily update
    • No ongoing charges
    • Quick, personalised search