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Bendigo Bank Car Loan

Bendigo Bank Secured Personal Loan

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Application Fee
$150
Interest Rate (p.a.)
From 7.79% (fixed)
Comparison Rate (p.a.)
8.51%
Max Loan Amount
$50,000

Summary

Enjoy flexibility with a personal loan from Bendigo Bank. Offering a competitive fixed rate, this loan is the best way to pay for what you want without spending what you need.

If you don't have the money for a car right now a personal loan can be a good option to finance your vehicle. Personal loans come in both secured and unsecured loan types, each of which have their own strengths and weaknesses and which can suit different borrowers. Bendigo Bank has a secured personal loan option which is designed for people looking at purchasing a new or used vehicle, or using an existing vehicle as security to finance something else.

Pros

  • Flexible repayment
  • Ability to redraw
  • Loan terms up to 7 years

Cons

  • Application fee of $150
  • Monthly fee of $10

In this guide

  • Review
  • Details
    • Product details
  • Your reviews
  • Ask a question

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 $50,000

Bendigo Bank car loans offer competitive interest rates, both secured and unsecured options as well as a car loan that rewards you for buying environmentally friendly products related to your car or home.

The product offers you a competitive fixed interest rate so you can plan your repayments without the worry of rising interest rates and offers both secure and unsecured options to suit your financial situation.

Bendigo Bank car loan features

There are a number of features found in Bendigo Bank's Secured Personal Loan which make it an attractive choice for people looking at financing a vehicle purchase. These features include:

  • Flexibility. Choose weekly, monthly or fortnightly repayments. This means you can tailor your repayments to suit your financial situation. If you work off a monthly budget, then you can opt to make your repayments each month for example.
  • Repayment options. You can make unlimited additional repayments with this loan. If your financial circumstances change for better or worse you can change your repayments so they suit your needs.
  • Ability to redraw. This loan lets you access additional repayments using a free online redraw facility. This is a great option which let's you get access to extra cash when you really need it and it also has the added convenience of the online access.
  • Choice. Choose your loan terms between 1 to 7 years with this loan. You can choose the term of the loan to fit how much your loan is and what you can budget for.
  • Value. With this loan you'll get a competitive fixed interest rate with a minimum loan amount of $2,000. Take out the loan you need and be confident with a competitive fixed rate.

How does a secured car loan from Bendigo Bank work?

Bendigo Bank offers both secured and unsecured options for personal loans. A secured personal loan is where you offer an asset as security in case of a default. In the case of a default on your loan the lender will repossess the asset. The interest rates for secured loans are lower because it is considered less of a risk for the lender. Take a look at the loan options offered by Bendigo Bank below.

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
Bendigo Bank Secured Personal Loan
Fixed1 - 7 Years $2,000 - $50,000
Interest Rate (p.a.)
7.79%
Comp. Rate (p.a.)
8.51%
Application Fee
$150
Monthly Fee
$10
Monthly Repayment
$639.48
More Info
You'll receive a fixed rate from 7.79% p.a.
Perfect for buying a new or used vehicle, or to refinance an existing car loan.
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Showing 1 of 1 results

You can purchase a new or used vehicle with this secured loan from Bendigo Bank, or you can refinance an existing car loan. Loan amounts start from $2,000 and as the vehicle is used as security the rate is a competitive fixed rate 7.79% p.a. Loan terms are available from between 1 yearand 7 years. Even though the loan is fixed you can make unlimited additional repayments and access them through a redraw facility.

Is your car eligible for the secured personal loan?

  • More than $2,000
  • A new or used vehicle
  • Refinancing an existing loan

Fees

Some of these fees are mandatory, like the application fee, but others like the 'in branch redraw fee' can be avoided. Make sure you are familiar with all fees and charges before applying for a personal loan because you might save yourself some money.

  • Application fee of $150
  • Document preparation fee of $100
  • Security registration fee (at the rate applicable in your state)
  • Monthly service fee - $10
  • In branch redraw fee - $25
  • Early repayment fee - $20
  • Statutory fees and charges may apply

How does Bendigo Bank Car Loan compare with other car loan providers

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More Info
More Info
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Interest rate

From 7.79% p.a.

Interest rate

From 6.29% p.a.

Interest rate

From 7.19% p.a.

Comparison rate

8.51% p.a.

Comparison rate

7.41% p.a.

Comparison rate

7.82% p.a.

Loan term

1 to 7 years

Loan term

1 to 7 years

Loan term

3 to 7 years

Loan amount

$2,000 to $50,000

Loan amount

$10,000 to $300,000

Loan amount

$10,000 to $100,000

Not what you're looking for?

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How you can apply

If you're ready to apply for this loan you can get your application started online.

Eligibility

First, make sure you meet the application criteria listed below:

  • You're over 18 years of age
  • You are an Australian citizen or permanent resident
  • There are no more than two applicants for the loan
  • You're listed on the loan as a borrower
  • You're in paid employment (subject to Bendigo Bank's lending criteria)
  • Have a good credit history
  • There are no payment defaults, court judgements or bankruptcies in your credit history
  • Use the loan only for personal purposes because it isn't for business or commercial purposes

If you meet this criteria you can proceed with the application.

Documentation

You'll need the following details on hand to apply:

  • Personal details, such as your name and contact information
  • Your driver's licence number and expiry date
  • Your income and employment information
  • Details of your assets and commitments

Bendigo Bank can provide you with a convenient and flexible way to finance your new or used car purchase, but have you compared all your options to ensure it's the right loan for you?

Compare car loan providers

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1 - 13 of 108
Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
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
$622.82
Go to siteMore Info
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
$625.27
Go to siteMore Info
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.
Simplify New Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
Credit Concierge New Car Loan
Fixed1 - 7 Years $10,000 - $100,000
Interest Rate (p.a.)
6.29%
to 16.45%
Comp. Rate (p.a.)
7.41%
to 17.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$637.97
Go to siteMore Info
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
$635.67
Go to siteMore Info
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 5.79% p.a. and comparison rates from 6.49% p.a.)
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
$635.67
Go to siteMore Info
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.
Credit Concierge Used Car Loan
Fixed1 - 7 Years $10,000 - $1,000,000
Interest Rate (p.a.)
6.8%
to 17.45%
Comp. Rate (p.a.)
7.56%
to 18.91%
Application Fee
$553
Monthly Fee
$10
Monthly Repayment
$642.74
Go to siteMore Info
loans.com.au - New - Variable Rate Special
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
6.24%
to 7.74%
Comp. Rate (p.a.)
7.36%
to 8.85%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$630.83
Go to siteMore Info
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
$622.82
Go to siteMore Info
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
$625.27
Go to siteMore Info
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.
Simplify Used Car Loan
Fixed1 - 7 Years $10,000 - $300,000
Interest Rate (p.a.)
6.19%
to 18%
Comp. Rate (p.a.)
6.6%
to 23%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$622.21
Go to siteMore Info
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
$647.01
Go to siteMore Info
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.
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
$647.01
Go to siteMore Info
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.
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Showing 13 of 13 results

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Julie

January 31, 2019

If you work 45pf and have a part DSP pension, what are the chances of a car loan?


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Val Finder

February 06, 2019

Hi Julie,


Thank you for leaving a question! Car loan with Bendigo Bank would fall under a personal loan.


To be eligible to apply for a Bendigo Bank personal loan you must:

Be over 18 years of age

Be an Australian citizen or permanent resident

Be in paid employment (subject to Bendigo Bank’s lending criteria)

Have a good credit history

Use the loan only for personal purposes


You may check directly with Bendigo Bank to discuss your information in detail if you evaluate that all eligibility requirements are met.


Cheers,

Val


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Ben

August 08, 2018

How long will a pre-approval take for a car loan?


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Jhezelyn Finder

August 08, 2018

Hi Ben,


Thank you for your comment.


It may take just a few hours to get pre-approved for a car loan. Pre-approval for a car loan can last between 30 to 120 days depending on the lender. You can check our guide to car loan pre-approvals to get some tips and see the ins and outs of pre-approved car loans. I hope this helps.


Should you wish to have real-time answers to your questions, try our chatbox on the lower right corner of our page.


Regards,

Jhezelyn


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Lisa

September 25, 2017

Hi, I’m just trying to find the best/cheapest interest rate on a loan to consolidate 2 credit cards. Thank you


Avatar

Rench Finder

September 26, 2017

Hi Lisa,


Thanks for your inquiry.


Since you are looking to consolidate 2 credit card balances, you have a few options available to you.



  • Debt consolidation personal loan. This involves taking out a new personal loan with a lower interest rate and fees than your current one and transferring your debt across.

  • Balance transfer credit card. This allows you to apply for a new credit card with a limit higher than your personal loan debt and transfer your debt onto the card. You’ll then pay a promotional 0% p.a. rate for a limited period of time on the debt, after which a standard rate (usually above 20% p.a.) will apply.

  • You can press the link above and you will then redirected to the page where you can compare your options. Once you have chosen a particular lender/credit card, you may then click on the “Go to site” button and you will be redirected to the provider’s website where you can proceed with your application or get in touch with their representatives for further assistance.


    Before applying, please ensure that you meet all the eligibility criteria and read through the details of the needed requirements as well as the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.


    Best regards,

    Rench


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    Avatar

    Kel

    June 30, 2017

    Hi, I have had previous bad credit and also on carers and single parent pension, also receiving child support and a private payment via my Bendigo account. I have been rejected via other finance as I fall below the national average. Are there any car loans that can help finance a car loan in this situation?


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    Avatar

    Rench Finder

    June 30, 2017

    Hi Kel,


    Thanks for reaching out to us.


    Please check our guide on car loans for single parents. It will give you helpful info and you can compare your options. You can also have a look on our page about bad credit car loans. You may make use of the loan calculator to give you an idea on how much you can borrow. I also suggest that you read more about how to improve your credit score to increase your creditworthiness.


    Hope this helps.


    Best regards,

    Rench


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    Avatar

    Quinn

    February 09, 2017

    Hey how’s it going,

    I’m just wondering where it states that (must be in paid employment) or subject to Bendigo banks lending criteria.

    I’m a full time carer on a centerlink payment is that considered as paid employment?

    Hope someone can let me know

    Thanks


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    Avatar

    Anndy Lou Finder

    February 09, 2017

    Hi Quinn,


    Thanks for reaching out.


    Bendigo Bank generally accepts Centrelink benefits as income, but the approval of your loan is subject to other eligibility criteria.


    You may want to check loans for Centrelink recipients featured on our website. Open that link and you should find a comparison table. Once you’re done comparing, please select the “Go to Site” button to be safely redirected to your chosen lender.


    Please make sure that you have read the relevant T&Cs or PDS of the loan products before making a decision. Moreover, check the eligibility requirements as well and consider whether the product is right for you.


    Also if you can, contact first the lender and discuss your options and chances of approval before you send anything final for your application.


    I hope this helps. Should you have further questions, please don’t hesitate to reach out again.


    Have a wonderful day!


    Cheers,

    Anndy


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