Bank of Sydney wins Money magazine “Best of the Best 2017” award.

Bank of Sydney wins Money magazine “Best of the Best 2017” award.

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Thursday 1st December 2016

Bank of Sydney has won Australia’s ‘Best of the Best 2017” Award in the Cheapest Home Loan Package Bank category for the Expect More PAYG Home Loan variable 100K+  package at Money magazine’s annual ‘Best of the Best’ awards ceremony held in Sydney.

Now in their 16th year, these awards recognise the best products and services and take the hard work out of choosing such products available in the Australian market. Money’s annual financial guide and awards helps Australians find the best financial products in various categories.

“The Bank strived to meet and exceed customer and market expectations in 2016 by delivering the best interest rates for borrowers and passing on interest rate cuts as fast as we could to our customers,” said Bank of Sydney’s CEO, Miltos Michaelas.  

“It is a great honour for Bank of Sydney to win this award. This proves once again that we always put first the best interest of our customers to help them accomplish their dreams in life. The common dream of all Australians is to own their home! The Expect More PAYG Home Loan variable Package has helped many new couples and families to make the first step towards achieving their dreams.” said Miltos Michaelas.

In the Cheapest Home Loan category, the winners were ranked by the total cost of the loan – the interest cost plus fees – using 50% advertised rate and 50% average 6-month historical rate for a $350,000 loan over 25 years, 80% LVR. All packages had to offer a discount on the mortgage rate, a credit card with no annual fees and a deposit account with no account-keeping fees.

“This recognition will make us work harder in 2017 to ensure we continue to provide our customers with market leading financial products and services. I am delighted to receive this award on behalf of Bank of Sydney and I can promise our customers that more successes are yet to come,” concluded Miltos Michaelas.