Bendigo Bank - Our loans have many benefits
Bendigo Bank originated more than 150 years ago, Bendigo Bank in Victoria and Adelaide Bank in South Australia.
Both these banks began business as building societies and merged in 2007 to create an establishment that would later become the most customer- connected bank in Australia. We bid a wide-range of financial products and services to our clients including personal loans and banking products.
Who is Bendigo Bank?
We offer a wide variety of banking serves to 1.5 million client’s across Australia. Our suite of products includes transaction and saving accounts, insurance packages, credit cards, term deposits as well as numerous business banking solutions.
Bendigo has a range of home loans to suit your borrowing needs. We offer fixed or variable interest rates and features with flexible repayment options and no monthly fees, plus we offer a loan reward for building an energy-efficient home.
Competitive variable interest rates
Our Residential home loan offers borrowers a range of features and flexibility. Take advantage of our competitive variable interest rates.
This loan also allows you to choose if you would prefer to repay weekly, monthly or every fortnight, we allow extra repayments so that you are able to settle your account earlier than agreed. You could then use the redraw facility to access those extra repayments, whilst a linked offset account could save you on interest. This loan also allows you to you to obtain a full transaction fee refund on eligible accounts.
Bendigo Bank loan also entitles the following:
- Fixed Rate home loans – This loan will protect you against any rate rises which will give you certainty in managing your budget.
- Interest-Only Term home loans – Borrowers have the opportunity to purchase an investment property and/or land and only pay the interest percentage the loan for a set term. However, you should be aware that interest- only repayment will not reduce the principal owing on your home loan.
Bendigo Bank Home loan
- Loan Type Home loans
- Interest Rate 3.79 – 5.58% p/a
- Loan Amount up to $750,000
- Repayment 1 year to 25 years
Benefits of Bendigo Bank
- Easy to manage home loan repayments
- Convenient online loan calculator
- Apply online and get pre-approved
Bendigo Bank - Flexible home loans
The Equity Home Loan allows you to tap into your home equity to free up some funds.
This home loan offers flexibility on the term and the number of your repayments. The fact is you are able to pay as much or little the choice is yours, as long as the balance is below the approved credit limit.
Generation green home loan
Our Generation green home loan will reward you for either building or buying an energy-efficient home. This benefit allows you a reduction of the Standard Variable Home Loan rate, together with no monthly service fees on your loan. We offer flexible repayment plus you also have the option to make as many additional repayments. Manual, as well as online redraw, is available which acts as an emergency loan when you need it.
Features and benefits of our fixed rate home loan
- High loan to value (LVR) ratio – you are permitted to borrow up to 95% of the property value which means you only need 5% for the down payment. The maximum LVR is 90% for vacant land. Should you want to borrow more than 80% of the property value, you would need to pay Lender Mortgage Insurance (LMI)
- Standard loan term – This loan goes hand in hand with your long-term home ownership or investment plans, plus you can borrow a maximum of up to 30 years.
- Rate lock available – There is no chance of your interest rate fluctuating during the time it takes to settle because the rate stays the same during your settlement period, this rate is locked for three months from the date of your application but please take note that there is a fee involved, payable from a nominated bank account.
- Flexible repayments – You are able to decide how you would like to make repayment on your Loan account either by month, weekly or every fortnight, this loan is suited for those who are paid on different periods of the month.
- Additional repayments - You may make additional payments of payments of up to 20% on the balance over a fixed term of the Loan
- Redraw facility – Any additional repayments made on this loan can be redrawn as a quick loan on funds at no charge, but should you draw in the branch a fee of $25 will be charged.
- Partial offset account – A Partial offset account gives you the benefit of saving on interest, there are hundreds of Suncorp branches and ATM’s across Australia as well as internet banking which is available and linked to a blue Debit MasterCard, plus, you are able to use this account as your daily transaction account.
- Save on fees - The advantage of this account is that you could receive a transaction fee rebate on a variety of eligible accounts that includes; a retirement account, Ultimate Account, Mortgage Saver(offers a full rebate), Shareholder Account, Community Choice Investment, Student Account and a Community Account.
- Discounts off your credit card – Bendigo Bank Red Credit Card offers a 3% per annum discount
- Discounts off your insurance – You could be entitled to a free Bendigo Home Insurance from the time of contract to your settlement date if you should decide to buy the Home and Contents insurance policy.
- And last but not least Bendigo Home Loans also offer a Split Facility
Bendigo Bank is a trusted & reliable provider of home loans
In our review, Bendigo Bank adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, as well as the National Consumer Credit Protection Regulations 2010, where the granting the loan will not cause financial distress to the consumer.
Bendigo Bank is a registered credit provider in Australia; ACL 237879
Customer Reviews & Testimonials
Using Bendigo Bank to get our home loan has been the smartest choice we have made along the entire home buying process. We would have been lost without them.
— Perth —
They offered us so much more than just a home loan, their guidance has been instrumental in ensuring we have experience with minimal stress.
— Newcastle —
I have not been able to find a broker who has cheaper fees and lower interest rates!
— Melbourne —