Bendigo Bank Home Loans: The 2026 Review

Bendigo Bank, established in 1858, began as a building society in Bendigo, Victoria. Over the years, it has grown significantly, with a pivotal moment being the 2007 merger with Adelaide Bank, forming Bendigo and Adelaide Bank Limited. This merger marked its expansion and solidified its position as a major player in the Australian banking sector. The bank is publicly listed on the Australian Securities Exchange (ASX), maintaining its headquarters in Bendigo, Victoria.

Today, Bendigo Bank operates as a major independent bank, distinct from the Big 4, with a strong nationwide presence. It boasts over 500 branches and employs approximately 7,000 people. The bank’s business model is centred around community engagement, prioritising customer satisfaction and offering a unique community banking model. This approach has earned it high customer satisfaction ratings, setting it apart from larger competitors.

Bendigo Bank targets community-oriented individuals and small businesses across Australia. Its value proposition includes competitive home loan products, such as the Flex Home Loan and Easy Home Loan, which offer features like unlimited additional repayments and multiple offset accounts. The bank’s focus on transparency, long-term value, and community involvement reinforces its reputation as a reliable banking partner for Australians.

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

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

Bendigo Bank offers home loan products with unique features such as up to six 100% offset accounts per loan and flexible repayment options, providing significant interest savings and convenience for borrowers.

• 100% Offset Accounts: Bendigo Bank allows up to six 100% offset accounts per loan, applicable to both variable and fixed loans. This feature helps reduce interest costs by offsetting the loan balance with the account balance, offering substantial savings over the loan term.
• Unlimited Additional Repayments: For variable rate loans, borrowers can make unlimited additional repayments, enabling them to pay off their loans faster and save on interest. For fixed loans, up to $20,000 can be repaid annually without penalty.
• Manual & Online Redraw: Borrowers can access redraw facilities both manually and online, allowing them to withdraw extra payments made on their loans. This provides flexibility in managing finances, especially in emergencies.
• No Ongoing Fees: The Easy Home Loan product has no ongoing fees, making it an attractive option for cost-conscious borrowers. This feature reduces the overall cost of the loan, enhancing affordability.
• Flexible Repayment Options: Bendigo Bank offers repayment options on a weekly, fortnightly, or monthly basis, allowing borrowers to align payments with their cash flow and budgeting preferences.
• Rate Lock Option: For fixed rate loans, a rate lock option is available, ensuring borrowers can secure a stable interest rate during the application process, protecting against rate increases.

Bendigo Bank maintains a transparent fee structure, offering clarity on costs associated with its home loan products. Borrowers can expect a range of upfront, ongoing, and conditional fees, tailored to different loan types and borrower needs.

• Establishment Fee: $299 - Charged when setting up a new loan.
• Security Processing Fee: $199 - Covers the cost of processing the security for the loan.
• Application Fee: $150 - Incurred when applying for a new loan or additional funds.
• Valuation Fee: Variable - Cost for a third-party valuation of the property, varies by location and access.
• Monthly Service Fee: $15 (Monthly) - Recurring fee for maintaining the loan account.
• Discharge Administration Fee: $350 - Applied when the loan is fully repaid or discharged.
• Break Cost Fee: Variable - Payable during a Fixed Rate Period if certain conditions are met, such as changing the rate or making large additional repayments.
• Duplicate Fee: $16.5 - Charged for issuing duplicate documents.
• Variation Fee: $250 - Applies when changes are made to the loan terms.

Bendigo Bank offers home loans to a wide range of borrowers, focusing on accessibility and flexibility to meet diverse financial needs.

• Applicants must be at least 18 years old.
• Applicants must be Australian citizens or permanent residents.
• A minimum loan amount of $10,000 and a maximum of $1.5 million apply.
• Applicants must meet Bendigo Bank's credit and lending criteria.
• Owner-occupied properties only; principal and interest repayments required.
• Loan-to-Value Ratio (LVR) must not exceed 80% for most products.
• Additional eligibility criteria may apply for specific scheme loans.

• Lenders Mortgage Insurance (LMI) may be required for loans with an LVR above 80%.
• Borrowers can access up to six 100% offset accounts per loan, enhancing interest savings.
• First home buyers may have access to special programs or guarantor options.