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Banking, Finance Investment

Australia’s leading banking and insurance products recognised in 2024 Consumer Finance Awards

Money magazine 4 mins read

Macquarie Bank has once again been crowned ‘Bank of the Year’ in the 20th annual Consumer Finance Awards, published by Money

The annual awards, which included a survey component that had of 3,300 responses from Money readers, help Australians find the country’s leading banking and insurance providers.

Notable award winners this year include Commonwealth Bank, which won Business Bank of the Year, Credit Card Issuer of the Year and Investment Property Lender of the Year; Bank Australia, which took home Customer-Owned Institution of the Year and Bank of the Year – Customer Service; as well as Budget Direct, which was named Insurer of the Year. 

La Trobe Financial, Leveraged Equities, Budget Direct, Challenger, ING and Generation Life all retained their titles from 2023, while Bank Australia, Great Southern Bank, UBank, NobleOak and MetLife all shifted up the rankings to take a top award in 2024. 

Macquarie Bank added Money Minder of the Year and Home Lender of the Year to its list of accolades, including Bank of the Year.

The 2024 Consumer Finance Awards banking categories were based on a Money readership survey* conducted in March and April this year. Rainmaker Information analysts compiled the survey responses to determine the winners as well as second and third place-getters. The life insurance awards research was also conducted by Rainmaker Information in partnership with Plan For Life^.

"We were particularly impressed by the innovations on offer," says Michelle Baltazar, editor-in-chief of Money

"Customers are shaping the financial landscape now more than ever with banks responding in kind. There are apps that hide savings to curb impulse spending, lightning fast turnarounds on home loan applications and a far greater offering of reduced fees." 

Vanessa Walker, managing editor of Money, congratulated the winners. “It is great to see that the institutions that upped the ante for their customers received the top awards.”

“Banking and insurance should be competitive because that way the consumer wins.” 

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


Award Company Name
Bank of the Year Macquarie Bank
Business Bank of the Year Commonwealth Bank of Australia
Home Lender of the Year Macquarie Bank
Bank of the Year – Customer Service Bank Australia
Bank of the Year – Digital  Ubank
Bank of the Year – Product Ubank
Bank of the Year – Retirees Bendigo Bank
Bank of the Year – Savers Great Southern Bank
Bank of the Year – Young People ING Bank
Credit Card Issuer of the Year Commonwealth Bank of Australia
Customer-Owned Institution of the Year Bank Australia
Money Minder of the Year Macquarie Bank
Non-Bank Lender of the Year La Trobe Financial
General Insurer of the Year Budget Direct
Direct Life Insurance Cover of the Year NobleOak
Health and Wellness Cover of the Year MetLife 360 Health
Investment Property Lender of the Year Commonwealth Bank of Australia
Longevity Cover of the Year Challenger
Investment Bond Provider of the Year Generation Life
Margin Lender of the Year Leveraged Equities


*The Money readership survey on banking in March/April 2024 generated 3,300 responses. This provided more than 14,400 data points on consumers and their banking preferences across home loans, term deposits, transaction accounts and credit cards. Banking providers were rated by Money readers based on their product suite, customer service and digital experiences. Rainmaker Information analysed the survey results to determine the winners and finalists. For some award categories, Rainmaker Information used additional proprietary research.

Money, Rainmaker Information and Plan For Life are all part of the Market Intelligence (MI) division of ISS STOXX.

About us:



About Money

Money empowers Australians to reach financial freedom.

Money has provided trustworthy, independent content and resources for budgeting, property, superannuation, investments, financial planning, banking and insurance since 1999. Money helps readers from all walks of life to earn more, save more and make the most of their investments.

Money produces a monthly magazine, a weekly podcast, twice-weekly newsletters, the annual Best of the Best and Consumer Finance Awards, and uploads new website content daily.

Money is part of the Market Intelligence (MI) division of global group ISS STOXX.


About ISS Market Intelligence

ISS Market Intelligence (MI) is a leading global provider of data, analytics, insights, media, and events solutions to the global financial services industry. 


ISS MI empowers global asset and wealth management firms, insurance companies, distributors, service providers, and technology firms by providing cutting-edge market-engagement platforms and the actionable intelligence necessary to fully assess their target markets, identify and analyze the best opportunities within those markets, and execute on comprehensive go-to-market initiatives to grow their business.  


ISS MI clients benefit from our increasingly connected global ecosystem that leverages a combination of proprietary data, powerful software and analytics, timely and relevant insights, in-depth research, as well as an extensive suite of industry leading media brands that deliver unmatched market connectivity through news and editorial content, events, training, ratings, and awards.  

Contact details:

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P. 02 8234 7514


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