Bendigo Bank home loans review

author-avatar By
on April 20, 2022 Fact Checked
Bendigo Bank home loans review

Bendigo Bank came to life over 160 years ago, and is now one of Australia’s biggest banks. Let’s see how its home loans shape up.

Since opening its doors on the goldfields of Victoria in 1850, Bendigo Bank is now one of the largest banks in Australia. In its 164 years of operation, the bank has hit many milestones. For instance, Bendigo Bank has acquired more than 80 other companies, and introduced its Australian-first Community Bank model.

In 2007, Bendigo Bank merged with Adelaide Bank to form “Bendigo and Adelaide Bank” - one of Australia’s largest challenger banks. Both Bendigo Bank and Adelaide Bank continue to operate independently.

To learn more about Bendigo Bank’s home loans, its origins, and what makes it “the better big bank”, spoke with Marnie Baker, Managing Director of Bendigo and Adelaide Bank.

“[Bendigo Bank has] a national footprint now servicing more than 2.1 million customers,” Ms Baker told

“Our purpose of feeding into the prosperity of the community - rather than off it - stays true to these origins and reminds us of the important role banks continue to play in underpinning the national and local economies.”

Bendigo Bank Home Loans

Bendigo Bank offers two main home loan products: Bendigo Complete Home Loan, and Bendigo Express Home Loan. There are products for owner occupiers and investors alike with options to make principal and interest (P&I) payments or interest only (IO) payments.

The table below features some of Bendigo Bank’s home loan products for owner occupiers.


More details

Complete Home Loan Investment Variable (Interest Only) (LVR 60%-80%)

    More details

    Complete Home Loan Owner Occupied Fixed 1 year

      More details

      Complete Home Loan Investment Fixed 1 year

        More details

        Complete Home Loan Investment Fixed 2 year

          More details

          Complete Home Loan Owner Occupied Fixed 2 year (Interest Only)

            More details

            Complete Home Loan Investment Fixed 2 year (Interest Only)

              Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of May 26, 2022. View disclaimer.

              First bank in Australia to offer green home loans and offset accounts

              Over the years Bendigo Bank has delivered some firsts. Bendigo Bank was apparently the first in Australia to launch a green home loan, offer home loan offset accounts, and the first lender globally to deliver a digital home loan application.

              When asked what the best features of Bendigo Bank’s home home loans are, Ms Baker mentioned the following perks of each of the bank’s home loans.

              Complete Home Loan Features

              According to Ms Baker, some highlights of the Complete Home Loan include: its offset accounts, tiered-pricing structure, a low monthly service fee, and the ability to make unlimited extra repayments (for variable) and up to 20% of the loan amount during fixed rate period.

              Its loan-to-value ratio (LVR) tiered pricing for its variable rate loans means “the lower the LVR, the cheaper the rate.” Meaning, the more of your home loan you’ve paid off, the lower interest rate you’ll be charged.

              Different interest rates apply when you hit these repayment milestones, effectively lowering your LVR:

              • 90%<

              • 80 to 90%

              • 60 to 80%

              • <60%

              Customers can also have up to six 100% offset accounts - for both fixed and variable rate loans - linked per home loan. This is rare as usually offset accounts are only offered on variable rate home loans.

              Bendigo Express Home Loan Features

              Some of the benefits of this home loan include:

              • Fast online application/approval process

              • Competitive rates

              • A low monthly service fee

              • Full offset account for variable loans, partial offset account for fixed loans

              • The ability to make unlimited extra repayments (for variable) and up to 20% of the loan amount during fixed rate period

              Providing “service excellence and trust”

              When asked why someone should pick Bendigo Bank over another major bank, Ms Baker said its service excellence and trust are what makes it “the better big bank for home loans”, where you’ll be taken care of by dedicated home loan specialists.

              “Bendigo Bank has a long track record of helping our customers build a secure future and making communities stronger,” Ms Baker said.

              “Our approach to customer service is well known, with market leading NPS [Net Position Score] and trust scores. Our relationship model makes for an overall better home loan experience either in-branch, online or by a visit from one of our mobile relationship bankers. 

              “Whether it's your first home, second home, improved home, or an investment home. No matter how you choose to get in touch with us, Bendigo Bank can put you on the path to where you want to go.”

              On a mission to become Australia’s bank of choice

              Bendigo Bank prides itself on its strong sense of community and vision to become Australia’s bank of choice.

              “For Bendigo Bank, being a part of the communities in which we operate is all about shared value. Everyone needs a bank to provide the products and services you need build a life,” Ms Baker said.

              “In turn, choosing to bank with us helps make a difference in your community. You may not think who you bank with matters, but it does - and for our customers, their banking is making a real difference.”

              Ms Baker said Bendigo Bank aims to make a difference by helping its customers and communities in which it operates to be successful. This is through its aforementioned Community Bank - a ‘profit-with-purpose’ model where the bank’s profits are returned directly to the communities that generate them.

              “By choosing Bendigo Bank, your everyday banking through home and personal loans, business banking and credit cards is helping to fund emergency and rescue services such as rural fire brigades and the SES,  community buses, defibrillators, disabled and aged care facilities and other unmet need such as skate and sports parks, hospital wings and classrooms,” Ms Baker said.

              “In fact, more than $272 million has been returned to communities with thousands of initiatives funded Australia-wide since our Community Bank model began in 1998.”

              Image: Supplied


              The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site.,,, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

              Latest Articles

              Rachel is a Finance Journalist, and joined Savings in 2021. Coming from a background in the FinTech space, her interests include the innovation of lending technology, property, investing, and more. With a passion for educating and informing people about their finances, she hopes to increase the financial literacy of everyday Australians.

              Be Savings smart.
              Subscribe for free money newsletters.

              By subscribing you agree
              to the Savings Privacy Policy