Bendigo Bank Personal Loans

Both the unsecured and secured personal loan options from Bendigo Bank have a loan term between 1 and 7 years depending on the loan amount.

There are a number of fees to be aware of when taking out a personal loan with Bendigo Bank:

• Application fee – $150
• Document Preparation fee – $100
• Security processing fee – on application
• Monthly service fee – $5 per month
• Early repayment fee – $20
• Default fee – $30

See this article for look at the average fees currently charged by personal loan providers on the market (based on Canstar’s Personal Loans Star Ratings for November 2017) to see if Bendigo Bank’s fees are more or less what the average customer is paying.

Applying for a Bendigo Bank personal loan is straightforward; you can do it online after visiting Canstar’s comparison tables. When applying for a personal loan with Bendigo Bank (or most providers in Australia for that matter), you generally need to meet the following criteria:

• You must be 18 years or old
• You must live in Australia
• You must be an Australian or New Zealand citizen or a non-resident holding a Temporary Residency VISA
• Hold a regular income and good credit rating (see here for more info on how to get a good credit rating)
• Show an ability to afford your loan repayments
• Take out a loan of at least $4,000

If done online, the application process can take as little as 10 minutes, provided you have everything on hand. You may need to provide documents and ID such as:

• A current driver’s license
• Details of your current and previous (if applicable) employer
• Details of your income, assets, expenses and liabilities
• Previous tax returns if you are self-employed

You may also require your current account number for Bendigo Bank if you’re an existing member.

In addition to personal loans, Bendigo Bank also offers a secured car loan. The table below displays a snapshot of Bendigo Bank’s car loan products, sorted by Star Rating (highest to lowest). The results shown are based on a 5-year loan for $20,000 in NSW.

Compare Car Loans

Bendigo Bank was founded in 1858 and now has more than 150 years of experience in providing home loans. Today they serve around 1.5 million customers around Australia.

Bendigo Bank in Victoria and Adelaide Bank in South Australia both began as building societies striving to help Australians buy their own home. Together these two banks operate the following brands:

• Bendigo Bank
• Adelaide Bank
• Sandhurst Trustees
• Leveraged
• Rural Bank
• Delphi Bank
• Community Sector Banking
• Homesafe Solutions

Bendigo Bank recently created the Communities crowdfunding platform so that customers and staff could gain support and fundraise for a group or project:

So far Bendigo Bank has poured $148 million back into the community through:

• Community partnershipsincluding Oxfam Australia, the RSPCA, the Royal Children’s Hospital (RCH), Emergency Services, and more
• Community campaigns and programs
• Fundraising and grants
• Scholarships
• Community banking
• Not-for-profit banking