Bendigo Bank’s Unsecured Personal Loan offers unlimited additional repayments and no exit fee.
This Unsecured Personal Loan offers a competitive interest rate, and gives you the option of unlimited extra repayments, helping you to pay off your loan sooner. Access to those additional repayments is available through a flexible online redraw facility at zero cost. Find out more about this loan, and if it's right for you, in the review below.
Things to consider about the Bendigo Bank Unsecured Personal Loan
|Product Name||Bendigo Bank Unsecured Personal Loan|
|Interest Rate (p.a.)||From 12.79% (fixed)|
|Comparison Rate (p.a.)||14.89%|
|Interest Rate Type||Fixed|
|Minimum Loan Term||1 year|
|Maximum Loan Term||7 years|
|Min Loan Amount||$2,000|
|Monthly Service Fee||$5|
As this loan is unsecured, you don't need to offer any of your assets as security. The loan comes with a competitive fixed rate so you have set repayments and can enjoy protection against possible fluctuations in the market that could be to your disadvantage. You will need to consider the fees the loan charges, which include a $150 application fee, a monthly fee of $5 and a $20 early repayment fee.
Features of the Bendigo Bank Unsecured Personal Loan
- Loan terms. You have your choice of loan terms – between 1 and 7 year(s) are available.
- Loan amount. Apply for a loan $2,000 and above, depending on what you need. The maximum loan amount is determined by the details you provide in your application.
- Repayment options. You can choose whether you want to repay weekly, fortnightly or monthly.
- Redraw facility. Access any extra repayments you've made with Bendigo Bank’s free online redraw facility.
- Additional repayments. Pay whenever and as many times as you want with unlimited additional repayments.
- Loan fees. This loan includes a $150 application fee, a $100 document preparation fee, a $5 monthly service fee and a $20 early repayment fee.
How to apply for the Bendigo Bank Unsecured Personal Loan
If you're ready to apply for Bendigo Bank's Personal Loan, click "Go to Site" to start your application. To be eligible for a Bendigo Bank Unsecured Personal Loan you need to meet the following requirements:
- Be over 18 years of age
- Be an Australian citizen or permanent resident
- Be in paid employment
- Have a credit history free of defaults, court judgements or bankruptcies
- Be applying for the loan for personal purposes
- Not have more than two people listed on the loan
- Be listed on the loan as a borrower
If you meet all the above requirements you can start the application. You'll need the following details on hand:
- Details of your income and employment
- Information regarding your assets and commitments
- Your driver's licence number and its expiry date
Make sure you compare your options before submitting your application to ensure this is the right loan for you.