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Home Loans > Bendigo Home Equity Loan |
To find out more about Bendigo Bank, click here to access our Financial Services Guide (FSG). You must review the FSG before accessing information on this website.
Home Equity Loan
The all in one home loan where you can make the equity in your home work for you. An ideal way for Personal Customers to buy a new car, take that long needed holiday or perhaps even update the furniture.
The Bendigo Home Equity Loan is a flexible line of credit loan with full transactional functionality. Customers can draw on the available funds (up to the approved credit limit) with repayments only required to keep the account balance below the credit limit.
| Bendigo Home Equity Loan Details |
| Minimum Loan Amount |
$5,000 |
| Maximum Loan Amount |
$10,000,000 |
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| Mortgage Saver |
No |
| Interest Rate |
Variable
Interest on credit balances is calculated at Ultimate Account rates and paid monthly. |
| Interest Calculated |
Daily |
| Interest Charged |
Monthly |
| Loan Term |
Annual review |
| Scheduled Repayments |
Repayments only required to keep the account balance below the approved credit limit. |
| Additional Payments |
N/A |
| Redraw Facility |
N/A |
| Fixed Rate Lock |
No |
| Transaction Account Rebate |
Yes, you receive a full Transaction Account Rebate*. |
| Additional Transaction Account Rebates |
You can also receive a full Transaction Account Rebate on ALL of your other eligible Transaction Accounts*. |
| Credit Increases |
Yes, subject to lending criteria |
| Debit Card |
Yes, Bendigo Blue Debit Card, 24 hour ATM access, EFTPOS, pay bills by phone |
| Cashcard |
Yes, 24 hour ATM access and EFTPOS |
| Bank@Post |
Yes |
| Cheque Facility |
A 50 form personalised cheque book is optional. |
| Loan Statements |
Monthly on the loan anniversary date |
| Maximum LVR |
Borrow up to 90% on the value of the property (including mortgage insurance premium, if capitalised).
Note: If the LVR is greater than 80%, mortgage insurance will be required. |
| Fees & Charges |
- Application Fee - $150 note: additional fees may apply.
- Settlement Fee - $80.
- Legal and Valuation Fees apply.
- Statutory fees and charges apply.
- Monthly Service Fee (optional) - $8.
- For all standard fees and charges refer to the Bendigo
Bank Schedule of Fees & Charges and Transaction Account Rebates which
also outlines the Transaction Account Rebates and provides tips on minimising
your transaction fees.
- Limit Cancellation Fee may apply to Unregulated Facilities.
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| Bonuses |
- 1.00% pa discount on new or existing Bendigo Red Credit Card - Up to 44 Days Interest-Free.
- 1.00% pa discount on new or existing Bendigo Red Credit Card - No Interest-Free.
- 3.00% pa discount on our Bendigo Red Credit card - Up to 44 Days Interest-Free, if your Bendigo Home Equity Loan facility has been held with Bendigo
Bank for more than 12 months.
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| * Refer to our Schedule of Fees & Charges and
Transaction Account Rebates for more information on Transaction Account Rebates
and a list of eligible Transaction Accounts.
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| Apply
for a Residential Loan Online |
Interest Rates
| Bendigo Home Equity Loan – No Cheque ($8 Monthly Fee) |
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Rate |
7.55% pa |
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| Bendigo Home Equity Loan – Cheque ($8 Monthly Fee) |
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Rate |
7.55% pa |
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| Bendigo Home Equity Loan – Cheque (No Monthly Fee) |
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Rate |
7.75% pa |
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| Bendigo Home Equity Loan – No Cheque (No Monthly Fee) |
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Rate |
7.75% pa |
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All rates subject to change.
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