Bendigo home loan repayment calculator

Thinking about taking out a home loan with Bendigo Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how Bendigo Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 1.94%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Extensive branch network.
  • Flexible package loans available.
  • Specialised loans, e.g. low doc and equity loans.
  • Monthly fees on some loans.
  • Rates vary by loan size.

Bendigo Bank home loans rates

Advertised Rate

1.94

% p.a

Fixed - 2 years

Total estimated upfront fees
$384
Comparison Rate*

2.32

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

1.94

% p.a

Fixed - 1 year

Total estimated upfront fees
$384
Comparison Rate*

2.34

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.19

% p.a

Variable

Total estimated upfront fees
$384
Comparison Rate*

2.36

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.29

% p.a

Fixed - 3 years

Total estimated upfront fees
$384
Comparison Rate*

2.39

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.49

% p.a

Fixed - 4 years

Total estimated upfront fees
$384
Comparison Rate*

2.46

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.74

% p.a

Fixed - 5 years

Total estimated upfront fees
$384
Comparison Rate*

2.58

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.04

% p.a

Fixed - 3 years

Total estimated upfront fees
$384
Comparison Rate*

2.71

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 2 years

Total estimated upfront fees
$384
Comparison Rate*

2.72

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.84

% p.a

Fixed - 1 year

Total estimated upfront fees
$384
Comparison Rate*

2.76

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$384
Comparison Rate*

2.81

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.59

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

2.84

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.19

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

2.86

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.34

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

2.86

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.54

% p.a

Fixed - 4 years

Total estimated upfront fees
$500
Comparison Rate*

2.89

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.24

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

2.90

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.74

% p.a

Fixed - 5 years

Total estimated upfront fees
$384
Comparison Rate*

2.92

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.79

% p.a

Fixed - 4 years

Total estimated upfront fees
$384
Comparison Rate*

2.92

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.69

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

2.94

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.79

% p.a

Fixed - 5 years

Total estimated upfront fees
$500
Comparison Rate*

2.98

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.84

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.09

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 3 years

Total estimated upfront fees
$384
Comparison Rate*

3.12

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.13

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.64

% p.a

Fixed - 2 years

Total estimated upfront fees
$384
Comparison Rate*

3.14

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.74

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.14

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.94

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.14

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.69

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.15

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.64

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.16

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 4 years

Total estimated upfront fees
$384
Comparison Rate*

3.16

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.59

% p.a

Fixed - 1 year

Total estimated upfront fees
$384
Comparison Rate*

3.17

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.18

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.94

% p.a

Fixed - 4 years

Total estimated upfront fees
$500
Comparison Rate*

3.19

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.94

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.19

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 3 years

Total estimated upfront fees
$384
Comparison Rate*

3.21

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.04

% p.a

Fixed - 5 years

Total estimated upfront fees
$384
Comparison Rate*

3.21

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Fixed - 4 years

Total estimated upfront fees
$384
Comparison Rate*

3.23

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.84

% p.a

Fixed - 2 years

Total estimated upfront fees
$384
Comparison Rate*

3.24

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.24

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.94

% p.a

Fixed - 3 years

Total estimated upfront fees
$500
Comparison Rate*

3.25

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.04

% p.a

Variable

Total estimated upfront fees
$384
Comparison Rate*

3.25

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Fixed - 5 years

Total estimated upfront fees
$500
Comparison Rate*

3.25

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.14

% p.a

Fixed - 4 years

Total estimated upfront fees
$500
Comparison Rate*

3.26

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.24

% p.a

Fixed - 5 years

Total estimated upfront fees
$384
Comparison Rate*

3.26

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

2.89

% p.a

Fixed - 2 years

Total estimated upfront fees
$500
Comparison Rate*

3.28

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.79

% p.a

Fixed - 1 year

Total estimated upfront fees
$384
Comparison Rate*

3.29

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.29

% p.a

Fixed - 5 years

Total estimated upfront fees
$500
Comparison Rate*

3.29

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

2.84

% p.a

Fixed - 1 year

Total estimated upfront fees
$500
Comparison Rate*

3.33

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.79

% p.a

Fixed - 5 years

Total estimated upfront fees
$500
Comparison Rate*

3.33

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.84

% p.a

Fixed - 4 years

Total estimated upfront fees
$500
Comparison Rate*

3.33

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.54

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.35

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.09

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.39

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$384
Comparison Rate*

3.39

% p.a

Ongoing fee
$10 monthly
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.47

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.54

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.57

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.29

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.59

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.44

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.75

% p.a

Ongoing fee
$15 monthly
Go to site
More details
Advertised Rate

3.84

% p.a

Variable

Total estimated upfront fees
$500
Comparison Rate*

3.88

% p.a

Ongoing fee
$15 monthly
Go to site
More details

Bendigo Bank customer service

Bendigo Bank offers a number of contact methods for potential home loan customers. The bank has a general phone line for customer enquiries, as well as separate line for customer feedback. Customers can also contact the bank via email or online, or for more immediate enquiries, can meet with Bendigo Bank staff at one of their customer service outlets or branches.

  • Customer service centre (phone, email, branch)
  • Mobile app
  • Online banking
  • Live Chat
  • Mobile banking staff

How to Apply

Potential home loan customers at Bendigo Bank can apply for a loan in a number of ways. There is an online application form, as well as the option to call the bank or visit in person at a local branch. Before applying for a home loan it is advisable to think about how much money you could conceivably borrow given your financial situation and income. You will also need to provide documentation when applying for a home loan. This may include:

  • Proof of identity.
  • Proof of employment and income.
  • Information on current loans, liabilities and debts.
  • Details of other assets and earnings.

About Bendigo Bank home loans

Because of its smaller size, Bendigo Bank offers a thinner range of mortgages than you might find with Australia’s big four banks. However, Bendigo Bank’s home loans still cater to a variety of mortgage borrowers in Australia:

  • First home buyers
  • Upgraders
  • Investors
  • Renovators
  • Self-employed (low-doc loans)
  • Lines of credit

Those who borrow with Bendigo Bank can choose from a range of interest rate options:

  • Variable rate
  • Fixed rate
  • Principal-and-interest
  • Interest-only

Customers who package their home loan with another Bendigo Bank product may be eligible for a discounted interest rate.

Bendigo Bank home loans have a maximum loan term of 30 years. Repayments can be made weekly, fortnightly or monthly. Some mortgages offer redraw facilities, offset facilities and unlimited additional repayments.

Bendigo Bank home loan rates tend to be moderate for both investors and owner-occupiers.

Bendigo Bank home loan rates

Bendigo Bank home loan rates vary between mortgages but tend to be moderate in most categories. While their rates are not the lowest on the market, they aren’t the highest either.

As a general rule, Bendigo Bank charges lower interest rates for owner-occupiers and higher rates for investors. Customers who choose to pay principal-and-interest receive a lower rate than those who pay interest-only.

Interest rates differ between variable and fixed loans as well. Bendigo Bank variable interest loans tend to have lower rates than fixed-rate loans. Fixed-rate loans can have terms of up to five years. In general, the longer you want to fix, the higher the interest rate.

Bendigo Bank home loan rates also vary depending on the sum of the loan. Higher loan sums often attract lower interest rates.

Bendigo Bank home loans review

Although based in Victoria, Bendigo Bank provides home loans to borrowers across the country. They offer mortgages to suit first home buyers, upgraders, investors and renovators. Low-doc loans are available, as well as lines of credit.

Bendigo Bank home loans can be principal-and-interest or interest-only, while borrowers can choose for their interest rates to be variable or fixed. Customers can fix their rate for up to five years.

In terms of interest rates, Bendigo Bank tends to sit in the middle of the spectrum, with owner-occupiers who choose a variable principal-and-interest rate getting the lowest rate.

While Bendigo Bank home loans rates are moderate, the upfront and ongoing fees tend to be moderately low. Home loan customers may be charged a settlement fee, valuation fee and guarantee administration fee, while redraw facilities are free.

Learn more about home loans

How to apply for a pre-approval home loan from Bendigo Bank?

Applying for pre-approval on your home loan gives you confidence in your ability to secure finance while looking at potential new homes. You can get a free and personalised pre-approval home loan from Bendigo Bank in just a few minutes, without any credit checks or paperwork. 

Bendigo Bank offers pre-approval for home loans that allow you to understand the home loan size you may be able to get before looking for a new home. 

With the pre-approval, Bendigo Bank provides an estimate of your borrowing power. This figure incorporates stamp duty, lenders mortgage insurance (LMI) and any first home buyer incentives you may be eligible for. You may also qualify for the First Home Loan Deposit Scheme initiative, depending on your circumstances. 

To apply for a pre-approval on your home loan from Bendigo Bank, all you need to do is fill in a smart form. You could also contact the bank directly on 1300 236 344.

When does Commonwealth Bank charge an early exit fee?

When you take out a fixed interest home loan with the Commonwealth Bank, you’re able to lock the interest for a particular period. If the rates change during this period, your repayments remain unchanged. If you break the loan during the fixed interest period, you’ll have to pay the Commonwealth Bank home loan early exit fee and an administrative fee.

The Early Repayment Adjustment (ERA) and Administrative fees are applicable in the following instances:

  • If you switch your loan from fixed interest to variable rate
  • When you apply for a top-up home loan
  • If you repay over and above the annual threshold limit, which is $10,000 per year during the fixed interest period
  • When you prepay the entire outstanding loan balance before the end of the fixed interest duration.

The fee calculation depends on the interest rates, the amount you’ve repaid and the loan size. You can contact the lender to understand more about what you may have to pay. 

What are the different types of home loan interest rates?

A home loan interest rate is used to calculate how much you’ll pay the lender, usually annually, above the amount you borrow. It’s what the lenders charge you for them lending you money and will impact the total amount you’ll pay over the life of your home loan. 

Having understood what are home loan rates in general, here are the two types you usually have with a home loan:

Fixed rates

These interest rates remain constant for a specific period and are a good option if you’re a first-time buyer or if you’re looking for a fixed monthly repayment. One possible downside of a fixed rate is that it may be higher than a variable rate. Also, you don’t benefit from any lowering of interest rates in the market. On the flip side, if rates go up, your rate won’t change, possibly saving you money.

Variable rates

With variable interest rates, the lender can change them at any time. This change can be based on economic conditions or other reasons. Changes in interest rates could be beneficial if your monthly repayment decreases but can be a problem if it increases. Variable interest rates offer several other benefits often not available with fixed rate home loans like redraw and offset facilities and free extra repayments. 

What happens to my home loan when interest rates rise?

If you are on a variable rate home loan, every so often your rate will be subject to increases and decreases. Rate changes are determined by your lender, not the Reserve Bank of Australia, however often when the RBA changes the cash rate, a number of banks will follow suit, at least to some extent. You can use RateCity cash rate to check how the latest interest rate change affected your mortgage interest rate.

When your rate rises, you will be required to pay your bank more each month in mortgage repayments. Similarly, if your interest rate is cut, then your monthly repayments will decrease. Your lender will notify you of what your new repayments will be, although you can do the calculations yourself, and compare other home loan rates using our mortgage calculator.

There is no way of conclusively predicting when interest rates will go up or down on home loans so if you prefer a more stable approach consider opting for a fixed rate loan.

Does the Home Loan Rate Promise apply to discounted interest rate offers, such as honeymoon rates?

No. Temporary discounts to home loan interest rates will expire after a limited time, so they aren’t valid for comparing home loans as part of the Home Loan Rate Promise.

However, if your home loan has been discounted from the lender’s standard rate on a permanent basis, you can check if we can find an even lower rate that could apply to you.

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

How can I apply for a first home buyers loan with Commonwealth Bank?

Getting a home loan requires planning and research. If you are considering a home loan with the Commonwealth Bank, you can find the information you need in the buying your first home section of the bank’s website.

You can see the steps you should take before applying for the loan and use the calculators to work out how much you can borrow, what your monthly repayments would be and the upfront costs you’d likely pay.

You can also book a time with a Commonwealth first home loan specialist by calling 13 2221.

CommBank publishes a property report that may help you understand the real estate market. The bank has also created a CommBank Property App that you can use to search for property.  The link to download this app is available on the same webpage.

If you are eligible for the First Home Loan Deposit Scheme, CommBank will help you process your application. The scheme helps first home buyers to purchase a home with a low deposit. You can read details about this scheme here and speak with a CommBank home lending specialist to understand your options.

Why does Westpac charge an early termination fee for home loans?

The Westpac home loan early termination fee or break cost is applicable if you have a fixed rate home loan and repay part of or the whole outstanding amount before the fixed period ends. If you’re switching between products before the fixed period ends, you’ll pay a switching break cost and an administrative fee. 

The Westpac home loan early termination fee may not apply if you repay an amount below the prepayment threshold. The prepayment threshold is the amount Westpac allows you to repay during the fixed period outside your regular repayments.

Westpac charges this fee because when you take out a home loan, the bank borrows the funds with wholesale rates available to banks and lenders. Westpac will then work out your interest rate based on you making regular repayments for a fixed period. If you repay before this period ends, the lender may incur a loss if there is any change in the wholesale rate of interest.

What is the difference between fixed, variable and split rates?

Fixed rate

A fixed rate home loan is a loan where the interest rate is set for a certain amount of time, usually between one and 15 years. The advantage of a fixed rate is that you know exactly how much your repayments will be for the duration of the fixed term. There are some disadvantages to fixing that you need to be aware of. Some products won’t let you make extra repayments, or offer tools such as an offset account to help you reduce your interest, while others will charge a significant break fee if you decide to terminate the loan before the fixed period finishes.

Variable rate

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Split rates home loans

A split loan lets you fix a portion of your loan, and leave the remainder on a variable rate so you get a bet each way on fixed and variable rates. A split loan is a good option for someone who wants the peace of mind that regular repayments can provide but still wants to retain some of the additional features variable loans typically provide such as an offset account. Of course, with most things in life, split loans are still a trade-off. If the variable rate goes down, for example, the lower interest rates will only apply to the section that you didn’t fix.

What is 'principal and interest'?

‘Principal and interest’ loans are the most common type of home loans on the market. The principal part of the loan is the initial sum lent to the customer and the interest is the money paid on top of this, at the agreed interest rate, until the end of the loan.

By reducing the principal amount, the total of interest charged will also become smaller until eventually the debt is paid off in full.

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

How do you determine which home loan rates/products I’m shown?

When you check your home loan rate, you’ll supply some basic information about your current loan, including the amount owing on your mortgage and your current interest rate.

We’ll compare this information to the home loan options in the RateCity database and show you which home loan products you may be eligible to apply for.

 

How long can you fix a home loan rate for?

Most lenders should let you fix your interest rate for anywhere between one and five years. While rare, a few lenders may offer fixed rate terms for as long as 10 years.

Fixing your home loan interest rate for a longer term can keep your budgeting fairly straightforward, as you shouldn't have to factor in changes to your mortgage repayments if variable rates change, such as when the Reserve Bank of Australia (RBA) changes its rates at its monthly meeting. Additionally, if variable rates rise during your fixed rate term, you can continue to pay the lower fixed rate until the fixed term ends, potentially saving you some money.

Of course, a longer fixed term also means a longer length of time where you may have less flexibility in your home loan repayments. It’s also a longer period where you won’t be able to refinance your mortgage without paying break fees. If variable rates were to fall during this period, you may also be stuck paying a higher fixed rate for a longer period.

What is the Home Loan Rate Promise?

The Home Loan Rate Promise is RateCity putting its money where its mouth is. We believe that too many Australians are paying too much for their home loans. We’re so confident we can help Aussies save money, if we can’t beat your current rate, we’ll give you a $100 gift card.*

There are two reasons it pays to check your rate with the Home Loan Rate Promise:

  • You can find out how much you could save on your home loan by switching to a loan with a lower interest rate
  • If we can’t beat your current rate, you can claim a $100 gift card with our Home Loan Rate Promise*