Bendigo Bank Mortgage Saver Account

Bendigo Bank Mortgage Saver Account

Fee Free Deposit


Account Keeping Fee


Let your savings work twice as hard by putting them to lower your home loan payments.

  • $0 monthly fees for a partial offset
  • Unlimited free internet banking and phone banking
  • Save money on your linked Bendigo Bank home loan

Product details

Whether you have fixed rate or variable home loan with Bendigo Bank, the Mortgage Saver Account will help offset your interest owed. Depending on the loan, you can choose for a partial or 100% offset, using the balance of your account to reduce your monthly interest payments. This can save you thousands of dollars over the course of your home loan, and even shave off how many years you spend paying it.

This product is no longer available for new applications

Please refer to Bendigo Bank Comparison page for a list of other options. Existing account holders will not be affected by this change.

What are the features of the Bendigo Bank Mortgage Saver Account?

Offset accounts can be a fantastic method of saving money on your home loan, but they are also used as your transaction account. When looking at the Bendigo Bank Mortgage Saver Account, make sure to compare its features carefully against other banks you might be considering to help you see where the most value for your money lies:

  • Monthly account keeping fees. If you are only applying a partial offset to your home loan there will be no monthly fees. For those who are taking advantage of 100% offset you will be charged $5 per month.
  • Availability. In order to be eligible for this account it must be linked to either a principal and interest or interest only residentially secured home loan with Bendigo Bank. The property can be owner occupied or an investment property.
  • Offset amount. If your home loan is a variable rate loan than you have the choice of a partial or 100% offset. Those with a fixed rate home loan are only able to use the partial offset towards the balance.
  • Free transactions. In order to view your account and access your money you will have free unlimited use of internet and phone banking, electronic transfers including BPAY and Pay Anyone, EFTPOS withdrawals and purchases, and Bendigo Bank ATM and branch withdrawals.
  • Debit card. You have the choice of a Bendigo Blue Debit MasterCard or Easy Money ATM card to link to your account.
  • Bendigo Blue Debit MasterCard. The debit MasterCard allows for you to make purchases in person, online and over the phone at any retailer where MasterCard is regularly accepted. You will have to pay a $3 monthly fee if you choose to have the MasterCard linked to your account.
  • Loan finalisation. When you do finish paying off your linked Bendigo Bank home loan, this account will automatically convert to a Bendigo Ultimate Account.


  • Save money on your home loan with an offset account
  • Linked MasterCard
  • Unlimited transactions


  • Extra fee applies for a full offset

How do I apply for the Bendigo Bank Mortgage Saver Account?

If you are already a home loan customer with Bendigo Bank you can speak with a representative over the phone or in person at a branch about setting up a Mortgage Saver Account. For new customers who are trying to find a money saving home loan package to go with this account you can visit the Bendigo Bank website and fill out an online enquiry to set up an appointment with a Bendigo Bank financial representative. In addition to the home loan requirement, there are some other criteria for eligibility that you should be aware of:

  • Minimum age. While the minimum age requirement for a Bendigo Bank Ultimate Account is only 12 years old, with the Mortgage Saver Account any person listed on the account must also be on the home loan documentation.
  • Residency requirements. Bendigo Bank requires all account holders to be Australian residents with an Australian address.
  • Depository requirements. The minimum opening balance requirement is one dollar, but keep in mind that your balance is used to reduce the loan amount before interest is applied. The more you have in the account, the more money you will save on interest.

In addition to the documentation that is required when filling out a home loan application you will also need the following for your new banking account:

  • Tax file number. Providing your tax file number (TFN) or exemption code is not obligatory, and it is used with interest earning accounts to help with determining the correct rate of withholding tax.
  • Identification. In order to confirm you identity, Bendigo Bank will as for your driver’s licence, passport or Medicare card.

The information you provide will be reviewed by Bendigo Bank who upon approval will send you the details of your new account along with the linked debit card you chose to operate it with.


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