Express Investment Loan (Principal and Interest)
- Last updated on 04 Apr 2020
based on $350,000 loan amount for 25 years
- 100% full offset account
- Extra repayments + redraw services
- Free redraw facility
- Repayments may decrease if RBA cuts rates
- Not available for first home buyer
- Repayments may increase if RBA raises rates
Interest rate structure
$5k - $100m
Principal & interest
Loan term range
0 - 30 years
100% offset account
Unlimited extra repayments
Redraw fee: $0
Allows split interest
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Estimated upfront fees
Minimum SMSF Amount
Compare and review home loans with similar features
Bendigo Bank is an Australian financial institution headquartered in Bendigo, Victoria. Bendigo Bank is a part of the Bendigo & Adelaide Bank Group, which began in 1858 from two building societies. Bendigo Bank now serves over 1.5 million customers in over 500 communities Australia-wide.
Bendigo Bank provides a range of home loans, including mortgages for first time home buyers, investors and upgraders, in addition to low-doc loans and green loans, which reward customers for sustainable building practices.
A redraw facility attached to your loan allows you to borrow back any additional repayments that you have already paid on your loan. This can be a beneficial feature because, by paying down the principal with additional repayments, you will be charged less interest. However you will still be able to access the extra money when needed.
A guaranteed home loan involves a guarantor (often a parent) promising to pay off a mortgage if the principal borrower (often the child) fails to do so. The guarantor will also have to provide security, which is often the family home.
The principal borrower will usually be someone struggling to find the money to enter the property market. By partnering with a guarantor, the borrower increases their financial power and becomes less of a risk in the eyes of lenders. As a result, the borrower may:
- Qualify for a mortgage that they would have otherwise been denied
- Not be required to pay lender’s mortgage insurance (LMI)
- Be charged a lower interest rate
- Be charged less in fees