Bendigo Bank 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'd like to borrow

$

I am an

Loan term

With a repayment type

Your estimated repayments

at interest rate 2.69 %

Total interest payable

$0

Total amount payable

$0

Pros and cons

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

Bendigo Bank home loans rates

Product
Advertised Rate
Total estimated upfront fees
Comparison Rate*
Ongoing fee
Go to site
Company

2.69%

Variable

$384

2.90%

$10 monthly
Bendigo Bank
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2.39%

Fixed - 3 years

$384

2.93%

$10 monthly
Bendigo Bank
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2.29%

Fixed - 2 years

$384

2.96%

$10 monthly
Bendigo Bank
More details

2.69%

Variable

$500

2.98%

$15 monthly
Bendigo Bank
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2.44%

Fixed - 3 years

$500

2.99%

$15 monthly
Bendigo Bank
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2.29%

Fixed - 1 year

$384

3.00%

$10 monthly
Bendigo Bank
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2.34%

Fixed - 2 years

$500

3.01%

$15 monthly
Bendigo Bank
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2.89%

Fixed - 3 years

$384

3.03%

$10 monthly
Bendigo Bank
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2.34%

Fixed - 1 year

$500

3.04%

$15 monthly
Bendigo Bank
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3.14%

Fixed - 4 years

$384

3.05%

$10 monthly
Bendigo Bank
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2.79%

Fixed - 2 years

$384

3.06%

$10 monthly
Bendigo Bank
More details

2.79%

Variable

$500

3.08%

$15 monthly
Bendigo Bank
More details

3.14%

Fixed - 5 years

$384

3.08%

$10 monthly
Bendigo Bank
More details

2.79%

Fixed - 1 year

$384

3.11%

$10 monthly
Bendigo Bank
More details

3.44%

Variable

$384

3.17%

$10 monthly
Bendigo Bank
More details

2.94%

Fixed - 3 years

$500

3.20%

$15 monthly
Bendigo Bank
More details

3.19%

Fixed - 4 years

$500

3.22%

$15 monthly
Bendigo Bank
More details

2.84%

Fixed - 2 years

$500

3.23%

$15 monthly
Bendigo Bank
More details

3.64%

Fixed - 4 years

$384

3.23%

$10 monthly
Bendigo Bank
More details

3.44%

Variable

$500

3.24%

$15 monthly
Bendigo Bank
More details

3.04%

Variable

$384

3.25%

$10 monthly
Bendigo Bank
More details

3.19%

Fixed - 5 years

$500

3.25%

$15 monthly
Bendigo Bank
More details

3.64%

Fixed - 5 years

$384

3.25%

$10 monthly
Bendigo Bank
More details

2.84%

Fixed - 1 year

$500

3.29%

$15 monthly
Bendigo Bank
More details

2.69%

Fixed - 3 years

$384

3.34%

$10 monthly
Bendigo Bank
More details

2.74%

Fixed - 3 years

$500

3.34%

$15 monthly
Bendigo Bank
More details

3.04%

Variable

$500

3.34%

$15 monthly
Bendigo Bank
More details

2.64%

Fixed - 2 years

$500

3.35%

$15 monthly
Bendigo Bank
More details

3.54%

Variable

$500

3.35%

$15 monthly
Bendigo Bank
More details

2.59%

Fixed - 2 years

$384

3.37%

$10 monthly
Bendigo Bank
More details

2.89%

Fixed - 3 years

$384

3.38%

$10 monthly
Bendigo Bank
More details

2.64%

Fixed - 1 year

$500

3.39%

$15 monthly
Bendigo Bank
More details

3.09%

Variable

$500

3.39%

$15 monthly
Bendigo Bank
More details

3.44%

Variable

$384

3.39%

$10 monthly
Bendigo Bank
More details

3.44%

Fixed - 4 years

$384

3.39%

$10 monthly
Bendigo Bank
More details

2.79%

Fixed - 2 years

$384

3.40%

$10 monthly
Bendigo Bank
More details

3.69%

Fixed - 4 years

$500

3.40%

$15 monthly
Bendigo Bank
More details

3.69%

Fixed - 5 years

$500

3.41%

$15 monthly
Bendigo Bank
More details

2.94%

Fixed - 3 years

$500

3.42%

$15 monthly
Bendigo Bank
More details

3.44%

Fixed - 5 years

$384

3.42%

$10 monthly
Bendigo Bank
More details

2.59%

Fixed - 1 year

$384

3.44%

$10 monthly
Bendigo Bank
More details

3.14%

Variable

$500

3.44%

$15 monthly
Bendigo Bank
More details

2.79%

Fixed - 1 year

$384

3.45%

$10 monthly
Bendigo Bank
More details

2.84%

Fixed - 2 years

$500

3.45%

$15 monthly
Bendigo Bank
More details

3.64%

Fixed - 4 years

$384

3.46%

$10 monthly
Bendigo Bank
More details

3.44%

Variable

$500

3.47%

$15 monthly
Bendigo Bank
More details

3.64%

Fixed - 5 years

$384

3.47%

$10 monthly
Bendigo Bank
More details

2.84%

Fixed - 1 year

$500

3.51%

$15 monthly
Bendigo Bank
More details

3.49%

Fixed - 4 years

$500

3.56%

$15 monthly
Bendigo Bank
More details

3.54%

Variable

$500

3.57%

$15 monthly
Bendigo Bank
More details

3.49%

Fixed - 5 years

$500

3.58%

$15 monthly
Bendigo Bank
More details

3.29%

Variable

$500

3.59%

$15 monthly
Bendigo Bank
More details

3.69%

Fixed - 4 years

$500

3.62%

$15 monthly
Bendigo Bank
More details

3.69%

Fixed - 5 years

$500

3.63%

$15 monthly
Bendigo Bank
More details

3.44%

Variable

$500

3.75%

$15 monthly
Bendigo Bank
More details

3.84%

Variable

$500

3.88%

$15 monthly
Bendigo Bank
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 Bendigo Bank

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.

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.

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.

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.

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

What is a comparison rate?

The comparison rate is a more inclusive way of comparing home loans that factors in not only on the interest rate but also the majority of upfront and ongoing charges that add to the total cost of a home loan.

The rate is calculated using an industry-wide formula based on a $150,000 loan over a 25-year period and includes things like revert rates after an introductory or fixed rate period, application fees and monthly account keeping fees.

In Australia, all lenders are required by law to publish the comparison rate alongside their advertised rate so people can compare products easily.

What is the best interest rate for a mortgage?

The fastest way to find out what the lowest interest rates on the market are is to use a comparison website.

While a low interest rate is highly preferable, it is not the only factor that will determine whether a particular loan is right for you.

Loans with low interest rates can often include hidden catches, such as high fees or a period of low rates which jumps up after the introductory period has ended.

To work out the best value for money, have a look at a loan’s comparison rate and read the fine print to get across all the fees and charges that you could be theoretically charged over the life of the loan.

What is a bad credit home loan?

A bad credit home loan is a mortgage for people with a low credit score. Lenders regard bad credit borrowers as riskier than ‘vanilla’ borrowers, so they tend to charge higher interest rates for bad credit home loans.

If you want a bad credit home loan, you’re more likely to get approved by a small non-bank lender than by a big four bank or another mainstream lender.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

What is the difference between a fixed rate and variable rate?

A variable rate can fluctuate over the life of a loan as determined by your lender. While the rate is broadly reflective of market conditions, including the Reserve Bank’s cash rate, it is by no means the sole determining factor in your bank’s decision-making process.

A fixed rate is one which is set for a period of time, regardless of market fluctuations. Fixed rates can be as short as one year or as long as 15 years however after this time it will revert to a variable rate, unless you negotiate with your bank to enter into another fixed term agreement

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 however fixed rates do offer customers a level of security by knowing exactly how much they need to set aside each month.

What is a fixed home loan?

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.

How do I know if I have to pay LMI?

Each lender has its own policies, but as a general rule you will have to pay lender’s mortgage insurance (LMI) if your loan-to-value ratio (LVR) exceeds 80 per cent. This applies whether you’re taking out a new home loan or you’re refinancing.

If you’re looking to buy a property, you can use this LMI calculator to work out how much you’re likely to be charged in LMI.

What happens when you default on your mortgage?

A mortgage default occurs when you are 90 days or more behind on your mortgage repayments. Late repayments will often incur a late fee on top of the amount owed which will continue to gather interest along with the remaining principal amount.

If you do default on a mortgage repayment you should try and catch up in next month’s payment. If this isn’t possible, and missing payments is going to become a regular issue, you need to contact your lender as soon as possible to organise an alternative payment schedule and discuss further options.

You may also want to talk to a financial counsellor. 

How personalised is my rating?

Real Time Ratings produces instant scores for loan products and updates them based what you tell us about what you’re looking for in a loan. In that sense, we believe the ratings are as close as you get to personalised; the more you tell us, the more we customise to ratings to your needs. Some borrowers value flexibility, while others want the lowest cost loan. Your preferences will be reflected in the rating. 

We also take a shorter term, more realistic view of how long borrowers hold onto their loan, which gives you a better idea about the true borrowing costs. We take your loan details and calculate how much each of the relevent loans would cost you on average each month over the next five years. We assess the overall flexibility of each loan and give you an easy indication of which ones are likely to adjust to your needs over time.