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Bendigo Bank Connect Package Loan

Features

The Bendigo Bank Connect Package Loan gives you the option to pay principal and interest or interest-only repayments weekly, fortnightly or monthly.

While there are interest rate discounts at different borrowing amounts, variable rates start from moderate to moderately-high on owner-occupier loans and from moderately-high to very high on investment loans. Fixed rates are moderately-high for owner-occupiers and very high for investors.

However, further interest rate discounts are applied when you choose eligible Bendigo Bank financial products.

The offered 100 per cent offset account and ability to make as many early repayments as you’d like can help you to repay this loan faster, and the redraw facility allows you to redraw any extra repayments should you need to do so.

Other features of this package include a waived annual fee for the Bendigo Bank Basic Black credit card and MasterCard debit fees, discounts on home, contents, car, health, travel and landlords insurance and personal loan rates as well as bonus interest earned on term deposits that are above a minimum amount. 

Who is the Bendigo Bank Connect Package Loan good for?

The Connect Package Loan could be good for owner-occupiers and investors who are looking to package their home loan with other financial products offered by Bendigo Bank, while having flexibility in the way they repay their loan. 

Review - What RateCity says

The Connect Package Loan could be a good option for people looking to bundle their home loan with other Bendigo Bank financial products.

The availability of a 100 per cent offset account and redraw facility is a considerable benefit if you’re looking to repay your loan faster under this package deal.

However, the annual fee charged for having this package as well as the moderate to very high interest rates make it necessary to balance specific needs and the benefits offered.

Bendigo Bank Connect Package Loan Options

The Connect Package Loan by Bendigo Bank has options available at different borrowing amounts and rate options. To find out more about each, click the corresponding links below.

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Advertised rate
Comparison rate*
Monthly repayment
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Fixed Rates from

3.89%

Advertised rate

4.70%

Comparison rate

Variable Rates from

4.23%

Advertised rate

4.53%

Comparison rate
Pros
  • Interest rate discounts.
  • 100 per cent offset account.
  • Access to financial products and discounts.
Cons
  • Moderate to high starting variable and fixed interest rates.
  • Entry and exit fees.
  • Ongoing fees.
Eligibility

Must be able to provide proof of income.

Must be over 18 years of age.

Must meet serviceability criteria.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
Fees
  • Estimated upfront fees: $250
  • Discharge fees: $250
  • Ongoing fees: $20 monthly

In addition to the annual package fee that is charged for the Connect Package Loan, customers will also have to pay monthly fees, a moderately low establishment fee and an average discharge fee.

Features
  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
About Bendigo & Adelaide Bank

Bendigo Bank is an Australian bank that owns and operates a number of other bank brands across the country to offer customers a complete range of financial services, products and advice to suit varying needs.

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