What fees should I be aware of when taking a home loan with Bendigo Bank?

Be prepared for a $350 discharge fee and potential break costs if you have a fixed rate loan. These can catch borrowers by surprise, so it's important to plan accordingly.

I'm having trouble accessing my online banking. What should I do?

Ensure your contact information is up to date, as outdated details can cause access issues. If problems persist, contacting customer service might take time due to long wait times.

How much could I save by refinancing my loan with Bendigo Bank?

Refinancing a $500,000 loan could save you $150 per month, totaling $53,898 over 30 years. For a $1,000,000 loan, savings are around $299 monthly, amounting to $107,796 over the loan term.

Are there any benefits for first home buyers with Bendigo Bank?

Yes, first home buyers can enter the market with a 5% deposit without needing Lenders Mortgage Insurance, which can significantly reduce upfront costs.

What are the common issues with Bendigo Bank's customer service?

Many customers report long wait times for calls, often exceeding an hour, and difficulties in getting help with updating personal details.

What are the repayment amounts for a $600,000 loan at Bendigo Bank?

For a $600,000 loan at 6.04% over 30 years, your monthly repayment would be approximately $3,613, with total interest reaching $700,589.

What is the process for discharging a mortgage with Bendigo Bank?

You'll need to fill out a Mortgage Discharge form, and all borrowers must sign it. A $350 Discharge Administration Fee applies, and the process may involve additional fees.

Does Bendigo Bank offer any special schemes for single parents?

Yes, single parents can enter the market with a 2% deposit, which can make home ownership more accessible.

Why are some customers dissatisfied with Bendigo Bank?

Customers often cite poor customer service, long wait times, and issues with online banking as major concerns, leading to a low satisfaction rating.

UPDATED JUL 20, 2026

Bendigo Bank Home Loans: The 2026 Review

Unlock cost savings with Bendigo Bank's unique programs and full offset facility. Be aware of high discharge fees for fixed loans. Ready to explore your options?

Bheja Verdict

Very Good

4.0/5

✓

Highly competitive rates across products

✓

Established major bank

Check Eligibility

Bendigo Bank Home Loans At a Glance

🏷️Best Rate Available

5.89%

Variable • Owner Occupied

💳Application Fee

Fee-free options available

📅Monthly Fee

Fee-free options available

Loan Range:$5K - $100.0M

LVR:Up to 96%

Products:200 variations

Offset Account:Available

Current Bendigo Bank Home Loan Rates

Last updated: July 2026

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Average Rate: 6.19%
Best Rate: 5.89%
Monthly Payment: $2,962

Advanced

Sort By

Bendigo Express Home Loan
Bendigo Bank
Min 20% DepositOffsetRedraw
5.89%
Interest Rate
Variable
6.02%
Comparison Rate*
$2,962
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application $250Ongoing/month $10Discharge $350+ other fees may apply
Bendigo Easy Home Loan
Bendigo Bank
20%-40% DepositRedraw
6.13%
Interest Rate
Variable
6.15%
Comparison Rate*
$3,040
per month
Principal And Interest
Check Eligibility
Fees:
Discharge $350+ other fees may apply
Bendigo Flex Home Loan
Bendigo Bank
20%-40% DepositOffsetRedraw
6.18%
Interest Rate
Variable
6.36%
Comparison Rate*
$3,056
per month
Principal And Interest
Check Eligibility
Fees:
Application
$299Ongoing/month $15Discharge $350+ other fees may apply
Bendigo Flex Home Loan (Retail)
Bendigo Bank
20%-40% DepositOffsetRedraw
6.18%
Interest Rate
Variable
6.38%
Comparison Rate*
$3,056
per month
Principal And Interest
Check Eligibility
Fees:
Application $299Ongoing/month $15Discharge $350+ other fees may apply
Bendigo Complete Home Loan
Bendigo Bank
20%-40% DepositOffsetRedraw
6.23%
Interest Rate
Variable
6.45%
Comparison Rate*
$3,072
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application
$150Ongoing/month $15Discharge $350+ other fees may apply
Single Parents (Bendigo Complete Home Loan)
Bendigo Bank
Min 4% DepositOffsetRedraw
6.23%
Interest Rate
Variable
6.45%
Comparison Rate*
$3,072
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application
$784Ongoing/month $15Discharge $350+ other fees may apply
First Home Buyers (Bendigo Complete Home Loan)
Bendigo Bank
Min 5% DepositOffsetRedraw
6.23%
Interest Rate
Variable
6.45%
Comparison Rate*
$3,072
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application
$150Ongoing/month $15Discharge $350+ other fees may apply
Bendigo Flex Home Loan
Bendigo Bank
10%-20% DepositOffsetRedraw
6.24%
Interest Rate
Variable
6.42%
Comparison Rate*
$3,075
per month
Principal And Interest
Check Eligibility
Fees:
Application
$299Ongoing/month $15Discharge $350+ other fees may apply
Bendigo Flex Home Loan (Retail)
Bendigo Bank
10%-20% DepositOffsetRedraw
6.24%
Interest Rate
Variable
6.44%
Comparison Rate*
$3,075
per month
Principal And Interest
Check Eligibility
Fees:
Application $299Ongoing/month $15Discharge $350+ other fees may apply
Bendigo Complete Home Loan
Bendigo Bank
10%-20% DepositOffsetRedraw
6.38%
Interest Rate
Variable
6.60%
Comparison Rate*
$3,121
per month
Principal And Interest
Visit Lender’s Site
Check Eligibility
Fees:
Application
$150Ongoing/month $15Discharge $350+ other fees may apply

Bendigo Bank Product Statistics

Real-time insights and market analysis

Bendigo Bank offers 9 home loan products across 213 variations, the average variable rate is 6.64% p.a., the best available rate is 5.89% p.a..

Average Variable Rate

6.64%

58 products

Average Fixed Rate

6.80%

155 products

Best Available Rate

5.89%

Variable • Owner Occupied • P&I

Total Products

213 variations

Fee Summary

Application Fee

14% fee-free

$0 - $784

Monthly Fee

14% fee-free

$0 - $20

Discharge Fee

$350

Late Payment Fee

$35

Key Features

Across Bendigo Bank's range: 172 include an offset account, 211 offer redraw, 213 allow extra repayments.

Offset Account

81%

Redraw Facility

99%

Extra Repayments

100%

Split Loan

—

Product Ranges

Bendigo Bank's interest rates range from 5.89% to 10.29% p.a., maximum LVR from 60% to 96%, loan amounts span $5,000 to $100,000,000.

Interest Rates5.89% — 10.29%

Max LVR60% — 96%

Loan Amount$5K — $100.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How Bendigo Bank Compares

FEATURE	Bendigo Bank	Bank of Sydney	BOQ Specialist	ME Bank - ME Go	MOVE Bank
Best Variable Rate	5.89%BEST	6.09%	8.02%	5.99%	5.99%
Best Fixed Rate (3yr)	6.39%	—	—	6.49%	6.24%
Application Fee	$0BEST	$400	$0	$0	$600
Monthly Admin Fee	$0BEST	$10	$10	$0	$0
Offset Account
Redraw Facility
Product Variations	200	31	12	200	28

💡

Bheja Insight: Bendigo Bank currently leads with the lowest variable rate among major banks, making it a strong choice for borrowers seeking flexibility.

About Bendigo Bank

Company overview and contact information

Founded in 1858, Bendigo Bank is a major player in the Australian banking sector, serving over 2.9 million customers. Publicly listed on the ASX under the ticker BEN, the bank operates with a unique Community Bank model, contributing over $416 million back into local communities. As an Authorised Deposit-taking Institution (ADI), Bendigo Bank is regulated by APRA, ensuring robust financial practices.

Bendigo Bank offers a diverse range of home loan products, with rates ranging from 6.04% to 10.29%. Their offerings include 213 variations, catering to a wide array of customer needs. Notable features include a full offset facility for variable rate loans and no requirement for Lenders Mortgage Insurance, making it an attractive option for those with lower deposits.

What sets Bendigo Bank apart is its commitment to community and innovation. With special programs like scholarships for regional and Indigenous students, the bank emphasizes social responsibility. Additionally, brokers appreciate the improved visibility and faster decision-making processes, highlighting Bendigo Bank's focus on efficiency and customer satisfaction.

Company Details

Legal Name: Bendigo Bank

ABN: 11068049178

ACN: 068049178

Established: 1858

Headquarters: Bendigo, Victoria, Australia

Ownership: Publicly listed company

Key Features

Bendigo Bank offers flexible home loan options with features like up to six 100% offset accounts and unlimited additional repayments on variable loans, catering to diverse borrower needs.

100% Offset Accounts

Bendigo Bank allows borrowers to link up to six 100% offset accounts per loan, available on both variable and fixed rates. This feature helps reduce interest costs by offsetting the loan balance with the account balance, providing significant savings over the loan term.

Unlimited Additional Repayments

For variable rate loans, Bendigo Bank offers unlimited additional repayments, allowing borrowers to pay down their loan faster without penalty. Fixed-rate loans permit extra repayments up to $20,000 per year, offering flexibility to manage finances effectively.

Manual & Online Redraw

Borrowers can access extra repayments through manual and online redraw options, providing flexibility and convenience in managing funds. This feature allows for easy access to additional funds if needed, enhancing financial management.

Flexible Repayment Options

Bendigo Bank offers weekly, fortnightly, or monthly repayment options, allowing borrowers to align their loan repayments with their cash flow preferences and budgeting needs.

No Lenders Mortgage Insurance

Bendigo Bank does not require Lenders Mortgage Insurance for loans with deposits as low as 2% for single parents and 5% for first home buyers, reducing upfront costs and making home ownership more accessible.

Digital Banking Features

Bendigo Bank provides robust digital banking features, including online banking and a mobile app, enabling borrowers to manage their loans conveniently from anywhere, enhancing the overall banking experience.

Lower Deposit Requirements

With deposit requirements as low as 2% for single parents and 5% for first home buyers, Bendigo Bank makes it easier for a wide range of buyers to enter the property market, offering more opportunities for home ownership.

Award-Winning Institution

As a top 100 ASX listed company, Bendigo Bank is recognised for its reliable and innovative banking solutions, offering borrowers the assurance of dealing with a reputable financial institution.

Fees & Charges

Bendigo Bank offers a comprehensive range of home loan products with various fees, showcasing transparency through detailed fee structures and potential waivers.

Fee Type

Amount

Description

Establishment Fee

$0-$784

Covers initial setup costs; varies by product and may incorporate other upfront fees.

Application Fee

$150

Charged when applying for a new loan or additional funds.

Valuation Fee

Variable

Cost for property valuation; varies based on location and property access.

Settlement Fee

$100

Charged at the settlement of the loan.

Monthly Service Fee

$0-$20/month

Covers regular loan administration; waived if the loan is active two days before the fee is charged.

Discharge Administration Fee

$350

Applies when discharging the mortgage; involves completing a discharge form.

Break Cost Fee

Variable

Charged during a fixed rate period if the rate is varied or the loan is repaid in full.

Default Fee

$35

Charged when a payment is missed.

Variation Fee

$150-$300

Applies when making changes to the loan terms; varies by complexity of the change.

Duplicate Fee

$16.50

Charged for issuing duplicate documents.

Agent Lodgement Fee

$125

Charged for lodging documents through an agent.

Rate Variation Fee

$100

Applies when renegotiating the interest rate during the loan term.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

Bendigo Bank offers home loans to a diverse range of borrowers, including first-time buyers and single parents, with flexible options to suit various financial needs.

Must be at least 18 years old to apply.

Must be an Australian citizen or permanent resident.

Minimum loan amount is $10,000; maximum is $1.5 million.

Loan-to-Value Ratio (LVR) must be between 60% and 96%.

Credit check is required for all applicants.

Proof of income and employment is required.

Property must be owner-occupied and for principal and interest only.

Refinance options are available for existing loans.

Identification such as a Driver’s Licence or Passport is required.

Important Notes

Lenders Mortgage Insurance (LMI) is not required for deposits of 5% under certain schemes.
Special programs are available for first home buyers and single parents with lower deposit requirements.
A valuation of the property is required for loan approval.
Check specific eligibility criteria for scheme loans and special offers.

Bendigo Bank Home Loan Pros & Cons

Our expert take on whether Bendigo Bank is right for you

Pros

+Below market interest rates
+Up to six 100% offset accounts per loan
+No Lenders Mortgage Insurance required
+Special programs for first – time buyers and single parents
+$3,000 cashback for refinancing over $250,000, valid until June 2026

Cons

–Long customer service wait times
–Issues with online banking access
–High discharge and break cost fees

Best For

First-time home buyers with low deposits
Borrowers seeking multiple offset accounts
Refinancers looking for cashback offers
Single parents entering the market
Regional and rural students seeking scholarships

Not Ideal For

Borrowers prioritizing excellent customer service
Those needing quick and efficient online banking

💡

Bheja Verdict: Bendigo Bank offers competitive home loan rates with substantial savings potential, but customer service issues may be a drawback for some borrowers.

Expert Secrets (Why Use Us?)

Insider knowledge about Bendigo Bank that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000; at 90% LVR, it's $12,500; and at 95% LVR, it's $21,000.

2A $750,000 loan incurs LMI of $9,000 at 85% LVR, $18,750 at 90% LVR, and $31,500 at 95% LVR.

3For a $1,000,000 loan, LMI is $12,000 at 85% LVR, $25,000 at 90% LVR, and $42,000 at 95% LVR.

4Bendigo Bank does not offer LMI waivers, so borrowers should consider these costs when planning their purchase.

Fee Waivers

Monthly service fee is waived if the home loan is active at least 2 days before the fee is charged.

Transaction fees are waived for 12 months at Coleambally and Berrigan LPO following agency closure.

Offset Benefits

A $10,000 offset account can save approximately $50 per month, totaling $600 annually.

A $25,000 offset account can save approximately $126 per month, totaling $1,512 annually.

A $50,000 offset account can save approximately $252 per month, totaling $3,024 annually.

A $100,000 offset account can save approximately $503 per month, totaling $6,036 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

5 Steps

Obtain and Complete the Mortgage Discharge Form: Download or request the Mortgage Discharge form from Bendigo Bank. Ensure all required sections are filled out accurately. (Tip: Double-check that all borrower and guarantor details are correct.)

Gather Necessary Signatures: All borrowers and guarantors must sign the discharge form to authorize the process. (Tip: Coordinate with all parties to ensure timely signing.)

Submit the Form to Bendigo Bank: Send the completed and signed form to Bendigo Bank via mail or in person at a branch. (Tip: Keep a copy of the submitted form for your records.)

Pay the Discharge Administration Fee: Pay the $350 Discharge Administration Fee as required by Bendigo Bank. (Tip: Confirm payment details and keep a receipt for your records.)

Coordinate Settlement: Work with your settlement agent or solicitor to finalize the discharge and coordinate with Bendigo Bank. (Tip: Ensure all documents are prepared and submitted well in advance of the settlement date.)

Processing Times

Discharge Process10-14 business days

Required Documents

Mortgage Discharge form

💡

Pro Tips

Request the discharge at least 2 weeks before your desired settlement date to avoid delays.
Ensure all borrowers and guarantors are available to sign the discharge form promptly.
Check for any additional fees that may apply and budget accordingly.
Keep all personal information and documentation organized and accessible.
Contact Bendigo Bank customer service if you have any questions or need assistance.

Bendigo Bank Mortgage Calculator

Estimate your repayments using current Bendigo Bank home loan rates

Over 30 years, borrowing $480,000 at 5.89%, total cost including interest and known fees could be around $1,031,759. Estimated monthly repayment: $2,843.98.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,031,759

Estimated repayment

$2,843.98

monthly repayment

Amount you borrow: $480,000 · At 5.89% · Variable — can change with the market

Known fees in this estimate

Application fee: $250
Document fee: $125
Discharge fee: $350
Monthly fee: $20 / month
Total ongoing fees (30 yrs): $7,200

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $543,834
Upfront fees: $375
Ongoing fees: $7,200
Discharge fee: $350
Estimated total cost: $1,031,759

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if Bendigo Bank is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Pre-approval usually takes under a week and is valid for 60 days. Formal approval can take up to 10 business days or more, depending on the complexity of your documents.