Bendigo Bank home loans

4.2
Based on 726 Bendigo Bank home loan product reviews.
Fact Checked
Last updated

About Bendigo Bank home loans

Mozo may receive payment if you click products on our site. We don’t compare the entire market.

Bendigo Bank Express Home Loan review

meca badge

Express Home Loan

  • Owner Occupier
  • Principal & Interest
  • LVR <90%
Interest rate
6.09 % p.a.
Variable
Comparison rate
6.22 % p.a.
Link not supplied
  • Highly competitive variable interest rate

  • Available for those with at least a 10% deposit (up to 90% LVR)

  • 100% offset account included on variable rate option.

  • $10 monthly fee in lieu of application and settlement fees

  • Unavailable for off-the-plan or ‘under construction’ purchases

  • Your property must be larger than 40m2 and situated in a capital city or major regional centre.

Our verdict

There are plenty of reasons why Bendigo Bank was named an Exceptional Value Lender in the 2024 Mozo Experts Choice Awards, and the Express Home Loan is a shining example of the bank’s outstanding performance.

A winner of several awards in 2024, such as the Low Cost Home Loan, Offset Home Loan and First Home Buyer Loan awards^, it comes with a very competitive variable rate of 6.09% p.a. (6.22% p.a. comparison rate*) for owner occupiers with a 90% loan-to-value ratio (LVR) and includes a 100% offset account, free of charge.

While it isn’t available for off-the-plan purchases, or for homes currently under construction, it is suited to first home buyers and refinancers living in the nation’s capitals or major regional centres, who want a low cost home loan with interest-saving features. 

As mentioned above, it comes with a 100% offset account, but it also lets borrowers make free additional repayments and free redraws too. 

As far as fees go, you won’t have to pay an application or settlement fee for the Express Home Loan. But, there is a monthly service fee of $10 and a $350 discharge fee. Valuation fees also work a little differently. 

To get your property valued by Bendigo as part of your application, they’ll first use their Automated Valuation Model to estimate its value, which will cost you $134.20. However, if they can’t get a good read on the value using their tech, they may have to perform a full valuation. Full valuations from Bendigo Bank will cost you $220 if your property is worth under $1 million, or $440 if it’s over $1 million.

Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more home loans here.
Last updated 25 October 2024 Important disclosures and comparison rate warning*

Bendigo Bank home loans

  • Fixed Express Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    6.11 % p.a.
    Initial monthly repayment
    $2,852
    Link not supplied

  • Complete Home Loan

    • Owner Occupier
    • Principal & Interest
    Interest rate
    5.54 % p.a.
    Fixed 2 years
    Comparison rate
    6.32 % p.a.
    Initial monthly repayment
    $2,852
    Link not supplied

  • Express Home Loan

    • Owner Occupier
    • Principal & Interest
    • LVR <90%
    Interest rate
    6.09 % p.a.
    Variable
    Comparison rate
    6.22 % p.a.
    Initial monthly repayment
    $3,027
    Link not supplied

  • Complete Home Loan

    • Owner Occupier
    • Principal & Interest
    • <60% LVR
    Interest rate
    6.14 % p.a.
    Variable
    Comparison rate
    6.36 % p.a.
    Initial monthly repayment
    $3,043
    Link not supplied

  • Complete Home Loan

    • Investment
    • Principal & Interest
    • <60% LVR
    Interest rate
    6.24 % p.a.
    Variable
    Comparison rate
    6.46 % p.a.
    Initial monthly repayment
    $3,075
    Link not supplied

  • Express Home Loan

    • Investment
    • Principal & Interest
    Interest rate
    6.29 % p.a.
    Variable
    Comparison rate
    6.42 % p.a.
    Initial monthly repayment
    $3,092
    Link not supplied

  • Fixed Express Home Loan

    • Investment
    • Principal & Interest
    Interest rate
    6.34 % p.a.
    Fixed 2 years
    Comparison rate
    6.43 % p.a.
    Initial monthly repayment
    $3,108
    Link not supplied

  • Complete Home Loan

    • Investment
    • Principal & Interest
    Interest rate
    6.34 % p.a.
    Fixed 2 years
    Comparison rate
    6.56 % p.a.
    Initial monthly repayment
    $3,108
    Link not supplied

  • Variable Rate Residential

    • Owner Occupier
    • Principal & Interest
    Interest rate
    9.03 % p.a.
    Variable
    Comparison rate
    9.19 % p.a.
    Initial monthly repayment
    $4,034
    Link not supplied

  • Variable Rate Residential

    • Investment
    • Principal & Interest
    Interest rate
    9.61 % p.a.
    Variable
    Comparison rate
    9.77 % p.a.
    Initial monthly repayment
    $4,244
    Link not supplied

image of houses

Need help with your Home Loan?

Whether you're looking to purchase a new home or refinance your existing loan, our friends at Lendi can help! Lendi’s expert advice is completely free of charge.

Learn more

Sign up for rate alerts and news.

Bendigo Bank home loan ratings

Overall customer rating for Bendigo Bank home loans

4.2
Based on 726 product reviews.

Customer reviews

Important disclosures

Bendigo Bank products

FAQs about Bendigo Bank home loans

Is Bendigo Bank good for home loans?

Bendigo Bank is a highly decorated home loan lender, which experts agree makes them a very good choice if you’re looking for a home loan.

Bendigo Bank home loans won several accolades in the 2024 Mozo Experts Choice Awards, including an Exceptional Value Home Lender award. Its Express Home Loan product also won a Low Cost Home Loan, Offset Home Loan, and First Home Buyer Loan award in 2024.

How much do I need for a Bendigo Bank house deposit?

With Bendigo Bank, owner-occupiers can apply for its Standard Residential Rate home loan with as little as an 8% deposit (92% LVR), according to the Mozo database. However, the reference rate is rather high. 

For a more competitive rate from Bendigo Bank, the Express Home Loan is open for owner occupiers with at least a 10% house deposit (90% LVR).

How do redraws work on a Bendigo Bank home loan?

With Bendigo Bank, you can make redraws online or by filling out a Loan Redraw Request form. To redraw your extra repayments through Bendigo e-Banking, you will need to fill out an Application for

Online Redraw form. 

If you have a Bendigo Bank home loan, check your home loan schedule to see if there are any rules about fees, minimum redraw amounts, or limits. 

However, redrawing your funds on a Bendigo Bank home loan usually doesn’t incur a fee, no matter if you perform the request online or in-person at a bank branch, according to the bank’s Lending Fees and Charges guide. 

Home loan quick links


* 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.

^See information about the Mozo Experts Choice Home Loan Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.