Bendigo Bank

Bendigo Bank savings and bank accounts

Bendigo Bank offers a range of different savings accounts to suit different needs, as well as a simple everyday transaction account.

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Name Product Card access ATM Withdrawal Fee Fee Free Transactions p.m. Monthly account fee
Bendigo Bank Student Account
Mastercard
$0
$0
Earn interest on your balance.
$0 monthly account fee.
A flexible option for students over 12 years old. Enjoy 0.05% interest on balances $5,000 and over and pay $0 monthly account keeping fees. Personalise your debit card with an image of your choice and use Apple Pay, Google Pay & Samsung Pay to make payments using your smartphone.
Bendigo Bank Everyday Account
Mastercard
$0
$6
A transaction account that lets you easily manage your money and also easily link to a Bendigo Home Loan to offset your monthly interest.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Bendigo Bank EasySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. when you link to Bendigo Bank transaction account. Available on the entire balance.
Bendigo Bank CommunitySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. Available on the entire balance.
Bendigo Bank PiggySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. Available on the entire balance.
Designed for kids under 12.
Bendigo Bank Christmas Club Account
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. Available on the entire balance.
Bendigo Bank Easy Retirement Account
0.3%
0.3%
0%
$3
All in one transaction account with unlimited EFTPOS, e-banking transactions. Bank at Bendigo ATMs or branches.
Bendigo Bank Reward Saver (for 31 years old or over)
Bendigo Bank Reward Saver (for 31 years old or over)
0.2%
0.05%
0.15%
Bendigo Bank Reward Saver (for 30 years old or under)
Bendigo Bank Reward Saver (for 30 years old or under)
0.5%
0.05%
0.45%
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bendigo Bank Term Deposit $0 - $4,999
0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
Competitive interest rates available on balances between $1,000 & $4,999.
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Name Product Card access ATM Withdrawal Fee Fee Free Transactions p.m. Monthly account fee
Bendigo Bank Student Account
Mastercard
$0
$0
Earn interest on your balance.
$0 monthly account fee.
A flexible option for students over 12 years old. Enjoy 0.05% interest on balances $5,000 and over and pay $0 monthly account keeping fees. Personalise your debit card with an image of your choice and use Apple Pay, Google Pay & Samsung Pay to make payments using your smartphone.
Bendigo Bank Everyday Account
Mastercard
$0
$6
A transaction account that lets you easily manage your money and also easily link to a Bendigo Home Loan to offset your monthly interest.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Bendigo Bank EasySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. when you link to Bendigo Bank transaction account. Available on the entire balance.
Bendigo Bank CommunitySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. Available on the entire balance.
Bendigo Bank PiggySaver Account
0.1%
0.1%
0%
$0
Ongoing, variable 0.1% p.a. Available on the entire balance.
Designed for kids under 12.
Bendigo Bank Christmas Club Account
0.05%
0.05%
0%
$0
Ongoing, variable 0.05% p.a. Available on the entire balance.
Bendigo Bank Easy Retirement Account
0.3%
0.3%
0%
$3
All in one transaction account with unlimited EFTPOS, e-banking transactions. Bank at Bendigo ATMs or branches.
Bendigo Bank Reward Saver (for 31 years old or over)
Bendigo Bank Reward Saver (for 31 years old or over)
0.2%
0.05%
0.15%
Bendigo Bank Reward Saver (for 30 years old or under)
Bendigo Bank Reward Saver (for 30 years old or under)
0.5%
0.05%
0.45%
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Name Product 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Bendigo Bank Term Deposit $0 - $4,999
0.05%
0.05%
0.05%
0.10%
0.10%
0.15%
0.15%
Competitive interest rates available on balances between $1,000 & $4,999.
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Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees
Virgin Money Boost Saver (25+ year olds)
1.5%
0.1%
1.4%
$0
Intro rate of up to 1.50% p.a. for the first 3 months and an ongoing bonus rate of 1.20% p.a. thereafter when monthly criteria is met (T&Cs apply). To earn these bonus rates customers aged 25+ need to deposit at least $2,000/month into your bundled Virgin Money Go Transaction Account and make 5+ transactions/month.
Westpac Life (18-29 year olds only)
2.5%
0.15%
2.35%
$0
If you’re between 18-29, you can earn a 2.5% p.a. variable rate each month you grow your balance (excl. interest) and make 5+ settled debit card purchases from your Westpac Choice account, up to a balance of $30,000.
Rabobank High Interest Savings Account
1.35%
0.25%
1.1%
$0
Maximum variable rate of 1.35% p.a. for 4 months, reverting to a rate of 0.25% p.a. No deposit or withdrawal conditions. Available on balances below $250,000
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
2.5%
0.05%
2.45%
$0
Only available to those aged 14-24. Ongoing, variable 2.5% p.a. when you link to an BOQ Day2Day Plus Account, deposit $200+ into the Day2Day account each month from an external account and make 5 eligible transactions a month. Max bonus interest applies on balances up to $10,000. Balances between $10,001 and $250,000 will earn a lower bonus rate. Base rate applies on balances over $250,000.
Citibank Online Saver
1.1%
0.35%
0.75%
$0
Introductory rate of 1.1% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Virgin Money Boost Saver (18-24 year olds)
1.5%
0.1%
1.4%
$0
Intro rate of up to 1.50% p.a. for the first 3 months and an ongoing bonus rate of 1.20% p.a. thereafter when monthly criteria is met (T&Cs apply). To earn these bonus rates customers aged 18-24 need to deposit at least $1,000/month into your bundled Virgin Money Go Transaction Account and make 5+ transactions/month.
Bank of Queensland Fast Track Saver Account
1.05%
0.05%
1%
$0
Ongoing, variable 1.05% p.a. when you link to an BOQ Day2Day Plus Account, deposit $1,000+ into the Day2Day account each month from an external account and make 5+ eligible transactions per month. Available on balances up to $250,000.
Virgin Money Grow Saver
0.65%
0.1%
0.55%
$0
Earn an ongoing variable 0.65% p.a. each month you make at least one deposit of any amount and no more than one withdrawal.
Westpac Life
0.3%
0.15%
0.15%
$0
Ongoing, variable 0.3% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
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Quick facts about Bendigo Bank

  • Bendigo Bank initially started as a building society in Bendigo, Victoria, helping locals to own their own home.
  • Bendigo Bank has been around for more than 150 years.
  • Bendigo Bank joined with Adelaide Bank in 2007 to form the Bendigo and Adelaide Bank Group.
  • Although it's local to the Bendigo area in Victoria, Bendigo Bank has more than 1.9 million customers all over Australia.
  • Bendigo Bank is regularly voted as one of Australia's most-trusted brands.
  • Bendigo Bank's community branches have donated more than $250 million towards community programs.
  • Taking into account it's huge community bank network, Bendigo Bank is Australia's fifth largest bank.

Different accounts offered by Bendigo Bank

Bendigo Bank offers a range of different deposit accounts which you can see in the tables above. Here's a brief snapshot of some of the main accounts.

Bendigo Everyday Account

A day-to-day transaction account that you can also use as an offset account with your Bendigo Bank home loan. This account has a $6 monthly account fee which is waived if you deposit $2,000 a month.

Read our full review of the Bendigo Everyday Account.

Bendigo Student Account

Children as young as 12, full-time students, apprentices and trainees are all eligible for the student account. There are no monthly fees for your account, plus you get unlimited free transactions online, by phone, at Bendigo ATMs and with BPAY.

Read our full review of the Bendigo Student Account.

Bendigo EasySaver Account

This is the main savings account offered by Bendigo Bank for personal customers. It offers a standard variable interest rate each month on your savings with no ongoing deposit conditions to meet. All you need to do is link it to the Bendigo Bank Everyday Account, and you can access your money at any time.

Read our full review of the Bendigo Bank EasySaver Account.

Bendigo PiggySaver Account

This is Bendigo's savings account option for children under 12, encouraging them to save with a free money box and annual birthday rewards. It also offers interest on your balance so kids can learn about compound interest.

Read our full review of the Bendigo Bank PiggySaver Account.

Bendigo Bank Term Deposit

With a Bendigo Bank Term Deposit, you have the option of locking your savings with a fixed rate for a length of time of your choice. You can open a term deposit from 1 month up to 5 years. The minimum deposit you need is $1,000 and you can choose to receive your interest payments monthly, annually or at maturity of the account.

Read our full review of the Bendigo Bank Term Deposit.

Different ways to bank with Bendigo Bank

Bendigo Bank offers many different ways to do your banking.

Bank branches

Bendigo Bank has more than 500 branches in Australia, including around 300 branches as part of its community banking network. This community branch is run by banking volunteers to give access to financial products and services (offered by Bendigo) to regional communities. Profits from these community branches goes back into the community to fund things like schools, sporting equipment, art and cultural projects, and the environment.

ATM network

Bendigo has roughly 500 ATMs available in Australia, mostly located in the southern part of the country. Customers can also access all major bank ATMs to withdraw cash for free.

Bank@Post

If you need to deposit cash into your account and don't have a Bendigo branch nearby, you can do this at a participating Australia Post shop using Bank@Post.

Bendigo Bank Internet and mobile banking

Commonwealth Bank's online banking platform is called Bendigo e-banking. You can go online 24/7 to do your day-to-day banking including view your balances, pay bills, transfer money between accounts and make BPAY payments, view and download your statements and open new Bendigo Bank accounts.

The Bendigo Bank app is free to download from Google Play or the App Store. You can set up your own PayID in the app to use instead of your BSB and Account Number when receiving money, and use Osko to make instant bank-to-bank transfers.

Contactless payment options

Bendigo Bank offers Apple Pay, Google Pay and Samsung Pay to customers with a Bendigo debit card.

Pros and cons of banking with Bendigo bank

Pros

  • Community banking. Bendigo's community banking program helps fund things like sports equipment, infrastructure and community amenities in regional towns.
  • Variety of accounts. Bendigo offers dedicated bank accounts for kids, community organisations, students and customers in retirement.
  • Bank branches. Unlike many digital and online banks, Bendigo still offers a network of physical bank branches.
  • Lots of ways to bank. You can use bank branches, smart ATMs, Internet banking, mobile banking, Bank@Post or digital wallets.

Cons

  • Fees. Bendigo's bank account charges a monthly account keeping fee unless you deposit a certain amount each month.
  • Limited ATM access. Bendigo Bank has less of a physical ATM presence than the Big Four banks.

How to apply for a Bendigo Bank account online

You can apply for a new Bendigo Bank account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old, unless you're applying for a student or kid's account
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

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2 Responses

    Default Gravatar
    TrevorJune 26, 2019

    My bank is changing the name of its Deeming Account to “Retirement Savings Account” and dropping the interest rate from 3.25% to 2.3%. Are there better deeming accounts?

      Avatarfinder Customer Care
      JeniJune 27, 2019Staff

      Hi Trevor,

      Thank you for getting in touch with Finder.

      You can start comparing deeming accounts. There are a wide number of financial investments that are assessed under the deeming rules. The main types include:

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

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