2023 Business Loans Star Ratings and Awards

2023 Business Loans Star Ratings and Awards

Release: 11 May, 2023

Outstanding Value – Commercially Secured Overdraft

Outstanding Value – Residentially Secured Overdraft

Outstanding Value – Unsecured Overdraft

Outstanding Value – Commercially Secured Term Loan

Outstanding Value – Residentially Secured Term Loan

Outstanding Value – Unsecured Term Loan

About the 2023 Business Loans Awards:

Canstar’s 2023 Business Loans Awards recognises the Business Loan products that provide Outstanding Value to consumers in Australia. Following a sophisticated and unique methodology that compares both Price and Features, the business loan products that achieve a 5-Star Rating are recognised and awarded with our Outstanding Value Award.

Canstar recognises the different business needs and wants in a business loan, so our Business Loans Star Ratings and Awards are assessed across a variety of loan types and security types. You can learn the full details in our methodology.

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Read our methodology →

View the full Star Ratings results →

See all Canstar Star Ratings and Award results →

Does Canstar rate other products?

About Canstar

Canstar also has insights and information about financial products and services generally. You can find out about topics such as: interest rates, buy now pay later (BNPL), business products and tax. You may also be interested in discovering more about calculators and resources, such as our rate checker and free credit score tool, to help you with your financial decision-making.

FAQs

Who decides the winners for Canstar’s Star Ratings and Awards?

Canstar’s expert researchers review the overall value offered by a provider for its products in a financial services category. We consider metrics such as price and costs against features and functionality, with all of the competitors in a category compared using Canstar’s unique research methodology. The products or providers recognised as winners are those that offer the highest overall value proposition.

What other awards does Canstar give?

In addition to Canstar’s Star Ratings that appear in our comparison tables, Canstar gives Outstanding Value Awards that identify providers with high-performing products. Separately, Canstar’s Customer Satisfaction Awards reveal how content customers are with a particular financial institution or insurance provider.

What are Canstar’s Outstanding Value Awards?

Canstar recognises financial institutions with annual Awards for outstanding value across a wide range of product categories. These Awards are given to the providers whose products are the strongest overall performers in our Star Ratings over the award period.

What are Canstar’s Customer Satisfaction Awards?

Canstar’s Customer Satisfaction Awards are for providers, recognising institutions with the most satisfied customers overall based on consumer surveys.

How does Canstar work out award-winning brands and providers?

As Australia’s biggest financial comparison site*, Canstar compares more than 775 brands across more than 30 finance categories. Each of Canstar’s Star Ratings and Awards uses a unique methodology that is brought together by our expert Research team, with products analysed based on price and features. The top 10% of products are recognised with a 5-Star Rating. You can find out more about how Canstar’s value-based rating system works.

Who can I contact for a media enquiry about Canstar’s Star Ratings?

For media enquiries, commentary or analysis about Canstar’s Star Ratings and Awards, including our Outstanding Value Awards or Customer Satisfaction Awards, please contact our Corporate Affairs team.

About: Josh Sale, Ratings Manager

Bachelor of Commerce, Economics/Finance dual major, Griffith University. Master of Data Science, Strategy and Leadership, RMIT (ongoing studies)

Joshua Sale is responsible for developing the methodology and delivering Canstar’s flagship Star Ratings, as part of Canstar’s Research team. With tertiary qualifications in economics and finance, he enjoys helping Australians find more suitable financial products by transforming complex calculations into a consumer-friendly Star Rating that explains the values and benefits of different financial products.

As one of Canstar’s company spokespeople, Joshua has participated in print, radio and broadcast interviews with the likes of the Australian Financial Review, news.com.au and Money magazine, along with other leading media outlets, discussing topics such as home loan equity, banking incentive schemes, digital wallets and wider finance trends.

Joshua is known for his ability to simplify complex products and technical information, crunching the data into meaningful insights for consumers about finance. He has analysed several consumer markets across banking, insurance and wealth, and is keenly interested in various topics, ranging from how Australians interact with their superannuation funds, to the dynamic nature of the health insurance market, and collecting and redeeming credit card reward points.

Joshua believes that knowledge is the first step towards empowerment. Even while studying, he facilitated peer-assisted study sessions for economics, and represented his University’s Business School in an academic committee.

You can follow Josh on LinkedIn, and Canstar on Twitter and Facebook.