Finder makes money from featured partners, but editorial opinions are our own.

Summary

Borrow from $2,000 up to $100,000 with a secured personal loan.

With Bendigo Bank’s Secured Personal Loan you can use your existing vehicle to secure your loan. Your asset will serve as a collateral for the loan, enabling the lender to offer a more competitive rate. Interest rates start at 7.79% p.a., with a comparison rate of 8.51% p.a.The loan has a few fees to watch out for, but they're relatively small. You can repay the loan early and only pay a $20 early repayment fee.

Details

Product details

Product Name	Bendigo Bank Secured Personal Loan
Interest Rate (p.a.)	7.79%
Comp. Rate (p.a.)	8.51%
Interest Rate Type	Fixed
Min Loan Amount	$2,000
Max. Loan Amount	$100,000
Loan Security	Secured

How does the Bendigo Bank Secured Personal Loan work?

As a secured personal loan, you'll need to provide an asset as security for the loan. This loan is aimed at borrowers looking to finance a new or used car purchase. It's also available for refinancers.

The loan has a fixed interest rate and let's you make extra repayments. There are a few fees to factor in to your comparison, including a monthly service fee and an upfront application fee.

How to apply

To be eligible for Bendigo Bank's Secured Personal Loan, you need to meet the following requirements:

You must be over 18 years of age
You must be an Australian citizen or permanent resident
You must provide details of your income and employment
There cannot be more than two applicants per application
You must be listed as the borrower. Bendigo Bank does not accept applications through a guarantor or third party
You must have a good credit rating. Your credit history should be free of bankruptcy, payment default or court judgements
You must provide details of your assets and commitments
You must accept the terms and conditions set out in the loan

Bendigo Bank's Secured Personal Loan offers a competitive rate and unlimited additional repayments to help you get out of debt sooner. However, make sure to compare your personal loan options before deciding on the right personal loan for your needs.

Features of this loan

Loan amount. You can borrow as little as $2,000 or as much as $100,000.
Loan term. This loan offers a minimum loan term of 1 year and a maximum of 7 years.
Fixed interest rate. You'll pay the same interest rate over the life of your loan.
Repayments. Flexible repayments allow you to pay weekly, fortnightly or monthly.
Redraw facility. Gain access to any additional repayments that you may make with Bendigo Bank's free online redraw facility.
Additional repayments. Bendigo Bank allows unlimited additional repayments to help you pay off your debt sooner.
Fees. This loan has a $150 application fee, and a $10 monthly service fee.

Compare other personal loans

1 - 19 of 19

Name	Interest Rate (p.a.)	Comp. Rate (p.a.)	Application Fee	Monthly Fee	Monthly Repayment
OurMoneyMarket Car Loan - Excellent Credit ExclusiveFixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 6.57% to 21.78%	Application Fee $0	Monthly Fee $0	Monthly Repayment $920.43	Go to site More Info Compare	Finder Exclusive: Apply by December 15th 2023 and if approved, OurMoneyMarket will waive the establishment fee for Excellent Credit Customers.
OurMoneyMarket New Car Loan Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $934.23	Go to site More Info Compare
loans.com.au - New - Variable Rate Special Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.24%	Comp. Rate (p.a.) 7.36%	Application Fee $400	Monthly Fee $8	Monthly Repayment $936.14	Go to site More Info Compare
NRMA New Car Loan Fixed1 - 7 Years $5,000 - $130,000	Interest Rate (p.a.) 7.29% to 16.99%	Comp. Rate (p.a.) 8% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $945.77	Go to site More Info Compare	Note: Take out a loan for an eligible electric vehicle and receive a 1.5% discount on your personalised interest rate (interest rates start from 5.49% p.a. and comparison rates from 6.19% p.a.)
CarMoney New Car Loan ExclusiveFixed18 Months - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.89% to 15.09%	Comp. Rate (p.a.) 8% to 16.16%	Application Fee $400	Monthly Fee $8	Monthly Repayment $945.14	Go to site More Info Compare	Finder Exclusive: Apply for and settle a car loan and get a $200 cashback. Limited time offer. Terms and conditions apply.
Stratton Finance New Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $931.85	Go to site More Info Compare	You'll receive a fixed rate from 6.52% p.a. depending on the lender you are approved with. Apply for up to $300,000 and use cash or trade in a vehicle to use as a deposit. Optional balloon payment available.
RACV New Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.29% to 16.99%	Comp. Rate (p.a.) 8% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $945.77	Go to site More Info Compare	You'll receive a fixed rate from 7.29% p.a. A larger loan of $5,000 or more to help you buy a new or used car. 5-hour pre approval available and no ongoing fees.
loans.com.au - New - Fixed Rate Special Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.09%	Comp. Rate (p.a.) 8.21%	Application Fee $400	Monthly Fee $8	Monthly Repayment $947.92	Go to site More Info Compare	You'll receive a fixed rate of 7.09% p.a. based on your risk profile Finance a new car and benefit from features such as fast approval, no ongoing fees and an optional balloon payment.
OurMoneyMarket Used Car Loan - No Vehicle Age Limit Fixed1 - 7 Years $2,001 - $75,000	Interest Rate (p.a.) 6.57% to 18.99%	Comp. Rate (p.a.) 7.19% to 21.78%	Application Fee $250 min.	Monthly Fee $0	Monthly Repayment $934.23	Go to site More Info Compare
NRMA Used Car Loan Fixed1 - 7 Years $5,000 - $130,000	Interest Rate (p.a.) 8.49% to 16.99%	Comp. Rate (p.a.) 9.21% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $962.64	Go to site More Info Compare	You'll receive a fixed rate from 8.49% p.a. Finance a used car with NRMA and benefit from a fixed rate term and no monthly fees. Pre-approval available within 5 business hours.
CarMoney Used Car Loan Fixed18 Months - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 6.2% to 15.75%	Comp. Rate (p.a.) 6.71% to 16.18%	Application Fee $399	Monthly Fee $0	Monthly Repayment $927.55	Go to site More Info Compare
Stratton Finance Used Car Loan Fixed1 - 7 Years $10,000 - $300,000	Interest Rate (p.a.) 6.52% to 18%	Comp. Rate (p.a.) 6.95% to 23%	Application Fee $395	Monthly Fee $0	Monthly Repayment $931.85	Go to site More Info Compare	You'll receive a fixed rate loan from 6.52% p.a. with a comparison rate of 6.95% p.a. A used car loan of up to $300,000 with quick approval times and balloon payment options.
RACV Used Car Loans Fixed1 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.49% to 16.99%	Comp. Rate (p.a.) 9.21% to 17.77%	Application Fee $499	Monthly Fee $0	Monthly Repayment $962.64	Go to site More Info Compare	You'll receive a fixed rate from 8.49% p.a. Benefit from no ongoing fees, 5-hour approval and a 21-day satisfaction guarantee. Interest rate discounts for members.
loans.com.au - Variable Rate Used Car < 3 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.74%	Comp. Rate (p.a.) 8.85%	Application Fee $400	Monthly Fee $8	Monthly Repayment $956.98	Go to site More Info Compare
loans.com.au - Variable Rate Used Car < 5 years Variable3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 7.74%	Comp. Rate (p.a.) 8.85%	Application Fee $400	Monthly Fee $8	Monthly Repayment $956.98	Go to site More Info Compare
loans.com.au - Fixed Rate Used Car < 3 years Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.09%	Comp. Rate (p.a.) 9.2%	Application Fee $400	Monthly Fee $8	Monthly Repayment $961.89	Go to site More Info Compare
loans.com.au - Fixed Rate Used Car < 5 years Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 8.29%	Comp. Rate (p.a.) 9.4%	Application Fee $400	Monthly Fee $8	Monthly Repayment $964.7	Go to site More Info Compare
loans.com.au - Fixed Rate Used Car Loan (6 to 7 years) Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 9.09%	Comp. Rate (p.a.) 10.2%	Application Fee $400	Monthly Fee $8	Monthly Repayment $975.99	Go to site More Info Compare
loans.com.au - Fixed Rate Used Car Loan (8+ years) Fixed3 - 7 Years $5,000 - $150,000	Interest Rate (p.a.) 12.79%	Comp. Rate (p.a.) 13.9%	Application Fee $400	Monthly Fee $8	Monthly Repayment $1,029.22	Go to site More Info Compare

Showing 19 of 19 results

Your reviews

No reviews yet. Write a review

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206) and a Tier 1 Generic Knowledge certification (RG 146). See full profile