Your guide to comparing Bendigo Bank home loan offers.
Bendigo Bank traces its origins back more than 150 years to Bendigo Bank in Victoria and Adelaide Bank in South Australia. Both started out as building societies, but merged in 2007 to create an organisation driven to be Australia's most customer-connected bank. Bendigo Bank offers a diverse range of financial products and services to its customers.
The 3.79% variable rate is only available for customers in Victoria taking out new variable, principal and interest owner-occupier loans over $150,000 (with an LVR of 80%). Borrowers will also need to take out three complementary products as part of the Connect package deal. You can also save $625 on fees if you apply before 31 May 2018. Other conditions apply.
Connect Package Home Loan Special Offer - Available in Victoria only.
The 3.79% variable rate is only available for customers in Victoria taking out new variable, principal and interest owner-occupier loans over $150,000 (with an LVR of 80%). Borrowers will also need to take out three complementary products as part of the Connect package deal.
You can also save $625 on fees if you apply before 31 May 2018. Other conditions apply.
Compare Bendigo Bank home loans
Bendigo Bank offers a wide array of banking services to its 1.5 million customers across Australia. Its suite of products includes transaction and savings accounts, credit cards, insurance packages, term deposits and a number of business banking solutions.
The bank offers home loans to suit a range of borrowing needs. Loans are available with fixed or variable interest rates and features such as flexible repayment options and no monthly fees, and there’s even a loan that rewards borrowers for building an energy-efficient home. For more information about Bendigo Bank’s home loan range, read on.
Home loans available through Bendigo Bank
Residential Variable home Loan
This loan offers borrowers flexibility and a range of features. Boasting a competitive variable interest rate, the loan lets you choose from weekly, fortnightly or monthly repayments. Extra repayments are also allowed to help you pay off your loan sooner.
You then have the ability to access those additional repayments using online redraw, while a linked offset account lets you save on interest. The loan also entitles you to receive a full transaction fee rebate on eligible accounts.
Fixed Rate home loans
The Fixed Rate Home Loan protects you against rate rises and helps give certainty when managing your budget. Weekly, fortnightly or monthly payments are available, while you can save interest with a partial offset account. This loan also entitles you to an interest rate discount on a Bendigo Ready Red credit card.
Interest-Only Term home loans
This loan offers borrowers the chance to buy an investment property or land and pay only the interest portion of their loan for a set term. Be aware, however, that interest-only payments will not reduce the principal you owe on your home loan.
Other features include flexible repayment schedules, an offset account, and a full transaction fee rebate on eligible accounts.
Home Equity loan
The Home Equity Loan lets you tap into the equity in your home to free up funds. This loan offers flexibility in the timing and size of your repayments. In fact, you can pay as much or as little as you choose, as long as you keep the balance below the approved credit limit.
Generation Green home loan
The Generation Green Home Loan rewards you for building or buying an energy-efficient home. You receive a reduction of the Standard Variable Home Loan rate, along with no monthly service fees on your loan.
Flexible repayment options are available and you also have the option to make unlimited additional repayments. Manual and online redraw is also available.
What information do you need and how do you apply for a Bendigo Bank home loan?
The process of applying for a Bendigo Bank home loan is simple and straightforward and can be done online, over the phone or in a local branch. Make sure you have the appropriate information ready for when you do apply, below is some of the information that will be needed.
All borrowers will need to submit their contact details, such as their tax file number, driver's licence number, passport number and whatever else Bendigo Bank may require. You might also need to give them details about your employer.
Bendigo Bank will require you to submit some of the paperwork surrounding the property you're buying, including the Contract of Sale and any other vital documents. They'll also require you to get a property valuation, which they'll use in the approval of your home loan.
As with any home loan lender, Bendigo Bank will want to ensure you have the capacity to pay back your home loan. This means they'll want to verify your income by seeing recent payslips and tax returns. They'll also want to be familiar with your current debt loan, as well as any assets you have.