In this guide

  • Review
  • Details
    • Product details
  • How does the Bendigo Bank Secured Personal Loan work?
  • How to apply
  • Features of this loan
  • Compare other personal loans
  • Your reviews
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Bendigo Bank Secured Personal Loan

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Bendigo Bank Secured Personal Loan

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Interest Rate (p.a.)
7.79%
Comp. Rate (p.a.)
8.51%
Min Loan Amount
$2,000

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.

In this guide

  • Review
  • Details
    • Product details
  • How does the Bendigo Bank Secured Personal Loan work?
  • How to apply
  • Features of this loan
  • Compare other personal loans
  • Your reviews

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.

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Name Interest Rate (p.a.) Comp. Rate (p.a.) Application Fee Monthly Fee Monthly Repayment
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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
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Monthly Fee
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Monthly Repayment
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OurMoneyMarket New Car Loan
Fixed1 - 7 Years $2,001 - $75,000
Interest Rate (p.a.)
6.57%
to 18.99%
Comp. Rate (p.a.)
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to 21.78%
Application Fee
$250
min.
Monthly Fee
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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
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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.
Verified Lending Used Car Loan
Fixed1 - 7 Years $10,000 - $200,000
Interest Rate (p.a.)
7.1%
to 18.99%
Comp. Rate (p.a.)
8.06%
to 22.99%
Application Fee
$395
Monthly Fee
$0
Monthly Repayment
$939.9
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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
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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.)
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
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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
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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.
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 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.
loans.com.au - Variable Rate Used Car < 5 years
Variable3 - 7 Years $5,000 - $150,000
Interest Rate (p.a.)
7.74%
to 7.74%
Comp. Rate (p.a.)
8.85%
to 8.99%
Application Fee
$400
Monthly Fee
$8
Monthly Repayment
$956.98
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