Bendigo Bank is a bank that offers a range of home loans for Australian borrowers. Check out the full table of Bendigo Bank products below or read more about the lender.
Review by our senior home loans writer Richard Whitten
Bendigo Bank is this year’s Best Investor P&I Variable Home Loan Winner! Fees are low and there's also an offset account, making this loan a useful option for investors who aren't making interest-only payments. It’s also highly commended across 4 other categories like Best Owner Occupier Variable Home Loan. Click on to see the other categories.
Full list of 2024 winners
Bendigo Bank’s Live in Express Variable Rate Home Loan was highly commended in the First Home Buyer, Owner Occupier Refinance and Investor interest only Variable categories. With a low deposit option, offset account and competitive interest rates, it’s easy to see why.
Full list of 2024 winnersHere are the key features and details you need to know about Bendigo Bank's mortgage products.
| Feature | Details |
|---|---|
| Minimum deposit | It is possible to get a home loan from Bendigo Bank with a deposit as low as 5%. |
| Offset account? | You can get an offset account with several Bendigo Bank loans. |
| Repayment options | Several Bendigo Bank home loans allow you to make interest-only repayments for a limited period. The lender also offers the standard principal-and-interest repayments on its loans. |
📄 Property details. You can start a loan enquiry before you've bought a property. But to complete an application you need the address of the property and a signed contract of sale.
📄 Identification documents. You will need identification such as a driver's licence, passport or birth certificate.
📄 Proof of income documents. Recent payslips can establish your income.
📄 Asset and liability documents. You need to provide documents showing your current assets (savings accounts, investments) and liabilities (your outstanding debt).
Aimed specifically at new borrowers buying established property, Bendigo Bank’s Express Home Loan is a simple, online loan with a lower rate.
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Would like to discuss with someone about the Family Home Guarantee as I have a son under 21 yo, Uni student who earns less than $6403. I believe I am eligible, please contact . email is preferred or can be contacted 12:30 pm WST
PS Made some contact with a lady called Justine last week but lost her details.
Hi Paula,
It sounds like you might eligible, although it depends on whether your son is classed as a dependent or not. Generally, the criteria to be eligible for Family Home Guarantee are:
• You must be an Australian citizen at least 18 years of age, and a single parent with at least one dependant. Permanent residents are not eligible.
• You must meet the income eligibility requirements – your taxable income cannot exceed $125,000 for the previous financial year (child support payments are not included as income for the purposes of the income cap).
• As the single parent, your name must be the only name listed on the loan and the title.
• You must be able to provide a deposit of at least 2% of the value of the property.
• You must intend to be the owner-occupier of the purchased property.
• You can either be a first home buyer or have owned a home in the past. You can not currently be living in a home you own.
• There are property price thresholds that will apply in capital cities, large regional centres and regional areas. Use NHFIC’s property price threshold tool to work out the maximum property purchase price in the area you’re interested in under the Scheme.
• The property you wish to purchase must meet the property eligibility requirements under the Scheme.
To see if you qualify for the FHG, visit: https://www.nhfic.gov.au/what-we-do/support-to-buy-a-home/family-home-guarantee/
To see if you qualify for a loan with Bendigo Bank for a home loan with this scheme, contact them directly on 1300 236 344.
Cheers,
Sarah
How do you use the website to compare 4 banks. It doesn’t seems to be working. I want to compare 4 different banks’ investor loans but when I click on ‘Compare’ the bank I am looking at on the screen comes up but there is no mechanism for me to add another 3 banks to compare to – just blank boxes and an orange ‘Compare’ button.
Hi Mark,
Thanks for getting in touch.
There are investment home loans from different banks you can compare. On the page is a comparison table you can use to see which lender suits you. You can click the name of the lender or the “More info” link to be redirected to our review page and learn more about the lender’s loan offer, rates, and requirements as well as the pros and cons of using their loan service. When you are ready, you may then click on the “Go to site” button and you will be redirected to the lender’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.
If in case you’d need help with your lending options, you can also speak to a mortgage broker who can consider your circumstance.
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.
Hope this helps.
Cheers,
May
what would the interest rate be for a Home Equity Loan of $20,000. Value of the house is at least $1m no mortgages. Repayments interest only.
Hi Jennifer,
Thanks for your question.
The interest rate for the Bendigo Home Equity loan <$50,000 is currently 5.86% p.a. If you would like to discuss your eligibility or options, please get in touch with Bendigo Bank directly by clicking on 'More info'. Cheers, Shirley