Bendigo Bank Home Loans: The 2026 Review

Bendigo Bank, established in 1858, began as a building society in Bendigo, Victoria. It has evolved significantly, particularly with the 2007 merger with Adelaide Bank, which created Bendigo and Adelaide Bank Limited. This merger was a pivotal milestone, transforming the bank into a major player in the Australian financial sector. Today, it is publicly listed on the Australian Securities Exchange (ASX) and operates independently, distinct from the Big 4 banks.

Currently, Bendigo Bank is a major financial institution with over 500 branches across Australia and a workforce of approximately 7,000 employees. Its business model is centred around a strong community focus, offering personalised banking experiences. The bank differentiates itself from larger competitors by prioritising community investments and customer satisfaction, rather than competing solely on price.

Bendigo Bank targets community-oriented customers who value high-quality service and stable pricing. While its interest rates may not always be the lowest, the bank offers unique features such as up to six 100% offset accounts per loan. Despite some limitations like higher fees and restrictions on extra repayments for fixed rate products, its commitment to community engagement and customer service continues to attract a loyal customer base.

• Legal Name: Bendigo and Adelaide Bank Limited
• ABN: 11068049178
• ACN: 068049178
• Established: 1858
• Headquarters: Bendigo, Victoria, Australia
• Type: Publicly Listed Company
• Ownership: Independent

• Website: https://www.bendigobank.com.au
• Phone: 1300 236 344
• Address: The Bendigo Centre, Bendigo VIC 3550, Australia

Bendigo Bank offers flexible home loan options with features designed to reduce interest costs and enhance borrower convenience. Their standout offerings include multiple offset accounts and flexible repayment options, catering to diverse financial needs.

• 100% Offset Accounts: Bendigo Bank provides up to six 100% offset accounts per loan, applicable to both variable and fixed rate loans. This feature allows borrowers to reduce their interest costs significantly by offsetting their loan balance against their savings, enhancing financial efficiency.
• Manual & Online Redraw: Borrowers can access redraw facilities both manually and online, providing flexibility in managing loan repayments. This feature allows borrowers to withdraw any extra payments made, offering a convenient way to access funds when needed.
• Unlimited Additional Repayments (Variable): For variable rate loans, Bendigo Bank allows unlimited additional repayments. This enables borrowers to pay down their loan faster without incurring penalties, potentially saving on interest over the life of the loan.
• Capped Additional Repayments (Fixed): Fixed rate loans permit up to $20,000 in extra repayments annually without penalty. This cap provides some flexibility for borrowers wishing to reduce their loan balance while maintaining the stability of a fixed interest rate.
• Flexible Repayment Options: Borrowers can choose from weekly, fortnightly, or monthly repayment schedules. This flexibility helps borrowers align their loan repayments with their income cycle, making financial management more convenient.
• Digital Banking Features: Bendigo Bank offers a robust online banking platform and mobile app, allowing borrowers to manage their loans conveniently from anywhere. Features include balance checks, transaction history, and automated valuations, enhancing the overall banking experience.
• Community Investment Initiatives: While not a direct loan feature, Bendigo Bank's commitment to community investment adds value to their offerings. Borrowers can feel good about supporting a bank that prioritises community engagement and customer satisfaction.

Bendigo Bank provides a clear and structured fee schedule, ensuring borrowers understand the costs associated with their home loans. While some fees are standard, others may vary depending on the specific loan product chosen.

• Establishment Fee: $299 - Charged when setting up a new loan.
• Security Processing Fee: $199 - Applied for processing the security documentation of the loan.
• Application Fee: $150 - Incurred when applying for a new loan or additional funds.
• Valuation Fee: Variable - Covers the cost of valuing the property, varies by location and property access.
• Settlement Fee: $100 - Charged at the time of loan settlement.
• Monthly Service Fee: $15 (Monthly) - Monthly fee for maintaining the loan account.
• Discharge Administration Fee: $350 - Payable when the loan is fully repaid and discharged.
• Break Cost Fee: Variable - Applies during a fixed rate period if certain break events occur, such as full repayment or exceeding allowed additional repayments.
• Duplicate Fee: $16.5 - Charged for issuing duplicate statements or documents.
• Variation Fee: $250 - Applies when changes are made to the loan terms.

Bendigo Bank offers home loans to a diverse range of borrowers, focusing on personal and residential lending with flexible options to suit different financial needs.

• Applicants must be at least 18 years old.
• Applicants must be Australian citizens or permanent residents.
• A stable income source is required to demonstrate the ability to repay the loan.
• A satisfactory credit history is necessary to meet lending criteria.
• Loan-to-Value Ratio (LVR) requirements vary, with some products allowing up to 95% LVR.
• Fees and charges apply to all loan products.
• Specific eligibility criteria apply for scheme loans, such as first home buyer programs.
• Property must be for personal residential use, not business or commercial purposes.

• Lenders Mortgage Insurance (LMI) may be required for loans above 80% LVR.
• Some products offer the option of a 5% deposit with a guarantor.
• Fixed rate loans limit extra repayments to $20,000 annually without penalty.