Bendigo Bank slashes home loan rates by up to 0.20%
Bendigo Bank has cut rates for its Express Home Loan by up to 0.20%, bringing it down to 2.69% p.a. (2.86% p.a. comparison rate*) for owner occupiers and 3.04% p.a. (3.21% p.a. comparison rate*) for investors.
The changes will see existing customers saving much more on their monthly repayments. For example, owner occupiers paying off a $400,000 loan over 30 years (P&I, LVR 80%) will be looking at savings in the range of $43 a month, or $516 over a year.
New rates for the Express Home Loan:
- Owner Occupier, P&I: 2.69% p.a. variable rate (2.86% p.a. comparison rate*)
- Owner Occupier, IO: 3.44% p.a. variable rate (3.17% p.a. comparison rate*)
- Investor, P&I: 3.04% p.a. variable rate (3.21% p.a. comparison rate*)
- Investor, IO: 3.44% p.a. variable rate (3.39% p.a. comparison rate*)
Bendigo Bank has also sharpened its fixed rate offerings. Right now, rates as low as 2.29% p.a. (2.79% p.a. comparison rate*) are available to owner occupiers making principal and interest repayments on a 2 year fixed term.
As for investment options, investors paying principal and interest will be able to take advantage of a 3.44% p.a. fixed rate (3.34% p.a. comparison rate*) on 4 year terms, and a 2.59% p.a. fixed rate (3.13% p.a. comparison rate*) on 2 year terms.
For an idea of how these rates stack up against others on the market, visit our home loans comparison page, or browse the selection below.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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