Bendigo Bank Loan Guide

The product of Adelaide and Bendigo Banks merging in 2007, today’s Bendigo Bank provides Australians with affordable home loans and financial management services.

The product of Adelaide and Bendigo Banks merging in 2007, today’s Bendigo Bank provides Australians with affordable home loans and financial management services.

Over 400 retail locations across the country exist under the Bendigo umbrella, with the majority present in Queensland and Victoria.

Bendigo was first established as a building society during the 1850s. In 1995, the building society transitioned into a bank, acquiring National Mortgage Market Corporation Limited the same year and Monte Paschi Australia in 1997.

Bendigo began providing banking services to their customers after opening retail branches in Victoria, and in 2007 merged with Adelaide Bank into a bigger company.

Bendigo Bank offers the following loan options for borrowers looking to purchase a new home or borrow from their home’s equity:

  • Basic Home Loan
  • Connect Package
  • Green Home Loan
  • Home Equity Loan

Bendigo Bank home loans offer multiple different features, depending on your situation and which loan type you select:

Combine and Save

The connect package from Bendigo allows you to connect three or more Bendigo banking products to save on your home loan and connected products.

View our connect package overview below for more information on the specific products you can connect to your home loan.

First Home Buyers Offer

NSW and ACT first-time home buyers are eligible to receive the first home buyers discount from Bendigo Bank, which includes a waived $625 establishment fee and a discounted rate on the connect package.

Flexible Repayments

All home loans through Bendigo Bank enable borrowers to set their repayment schedule. You can choose monthly, fortnightly, or weekly repayments – whichever works for you.

Offset Accounts

The offset accounts feature allows you all of the flexibility of a transactional account, with the added benefit of lowering the interest price on your home loan.

With Bendigo, you will be able to receive full offset on your variable-rate loans, and a partial offset during the fixed-rate period of your loan. Certain loan packages also waive the monthly offset fee.

You also have the option to use multiple offset facilities, enabling you to keep your funds separate while still receiving the full benefits of the feature.

Bendigo Bank offers three different loan packages and an additional home equity line of credit loan to its customers. These all apply to owner-occupied loans, and most include investment property options as well.

Find information about each home loan type, and their accompanying features below.

Basic Home Loan

The name of the basic home loan lives up to its promise to customers. You can borrow up to 95% of the property value and choose whether you want to pay a fixed-rate loan or a variable-rate loan.

The basic home loan package gives you access to free online redraw, a flexible repayment schedule and your choice of interest only or principal and interest repayments.

Bendigo allows customers with a variable-rate loan to make unlimited mortgage repayments. Fixed-rate customers are capped at 20% of the loan balance during the fixed period of the loan.

Connect Package

The connect package provides you with an interest discount when you connect your home loan to three or more additional Bendigo products and services. You won’t only receive an interest rate decrease, but a discount on the other products you select as well.

The eligible products for connection are as follows:

  • Offset facility
  • Car insurance
  • Landlords insurance
  • Credit card
  • Superannuation
  • Personal loan
  • Financial planning service
  • Home and contents insurance
  • Term deposit

This loan package also allows you to save on items like broker fees, travel insurance, and debit card fees.

The terms for the connect package are the same as the terms of the Basic It is designed to appeal to new homeowners who are interested in receiving multiple products and services from Bendigo at a discounted rate.

Green Home Loan

The green home loan is for homeowners who plan on renovating their home in accordance to Bendigo’s sustainable criteria. You will also qualify for this loan if you’re building a house with sustainable practices.

This is a variable-rate loan, so you will be able to make unlimited additional repayments and withdraw your funds online for free.

Check the Bendigo Bank green criteria page to ensure your renovations or building plans make you eligible for this home loan.

Home Equity Loan

You can choose to borrow up to 80% of the property value from your home’s equity through Bendigo Bank’s home equity loan. They allow you to pay as much or as little back as you want, provided your loan balance remains below your credit limit.

This is a variable-rate loan and will last for a maximum of five years.

You can complete your Bendigo Bank home loan application through their online portal. The form is available on their webpage, so you won’t have to download a file or print anything out.

Bendigo loan officers are also available to phone and walk you through the process. Filling out your first home loan application can be confusing, but staff are available for assistance during business hours.

To complete your online application, you’ll need the following information:

  • Assets and commitment details
  • Driver’s licence number and expiry date
  • Income and employment details

The option to save your application progress if you run out of time or otherwise can’t complete your application in one go is available through the site.

Once you’ve submitted the relevant information, Bendigo will review your application and get back to you with the next steps.

Redraw facilities are available for all loan types, including fixed-rate loans. You can withdraw any additional repayments you make and deposit them into your Bendigo Bank account free of charge.

While online redraws are free, in-person redraws will require a fee depending on your loan selection.

You can make extra repayments on your Bendigo Bank loan without incurring a charge. Bendigo allows you to make unlimited repayments on variable-rate loans, but there’s a slight restriction on fixed-rate loans – you are only permitted to repay 20% of the loan value in extra repayments during the fixed-rate period.


New customer enquiries
1300 236 344
Monday to Friday
8.30am – 6pm (AET)

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