Bendigo Bank home loan review
Also known as Bendigo and Adelaide Bank, Bendigo
Bendigo Bank stands out for one feature: a 100% offset on both fixed and variable loans (Flex Home Loan), which few lenders offer. It lends up to 95% of the property value on Flex and takes part in the 5% Deposit Scheme, which makes it a strong option for first home buyers who want a fixed rate with an offset.
This review covers Bendigo's Flex, Easy and Express loans, how its offset works on fixed rates, and how it compares with the major banks.
By Better Rate Mate Editorial Team · Last reviewed · Checked against Bendigo Bank's own website
Latest Bendigo Bank variable rate change
On 1 October 2026 Bendigo Bank announced a 0.25% p.a. rise for customers on a variable rate loan. It took effect on 7 October 2026. Bendigo Bank's announcement (checked 10 October 2026). For today's rates, see Bendigo Bank's rates page.
Bendigo Bank home loans at a glance
| Feature | Bendigo Bank |
|---|---|
| Offset account | 100% offset on fixed and variable (Flex, Complete); up to 6 per loan |
| Redraw | Online redraw |
| Maximum LVR | Up to 95% on Flex; 80% on Easy |
| Ongoing fees | None on Easy |
| Refinance | Express Home Loan with a secure online application |
| Ways to apply | Home loan specialist, online pre-approval, Express online refinance |
| 5% Deposit Scheme | Participating lender (first home buyers can buy with 5% and no LMI) |
Bendigo Bank mortgage and home loan repayment calculator
Enter the rate for the Bendigo Bank loan you're considering (from its rates page), your loan amount and term. The calculator uses the standard principal and interest formula lenders use, so for the same rate, amount and term it gives the same repayment as Bendigo Bank's own calculator. It doesn't include fees or future rate changes. For the maths and assumptions, see our mortgage repayment calculator page, and test your buffer with the stress test calculator. If you're buying, you can also estimate your stamp dutyand work out how much you can borrow.
Mortgage repayment calculator
Repayments and total interest, with optional extra repayments, an offset account or an interest-only period.
Monthly repayment
$2,997.75
| Loan amount | $500,000 |
|---|---|
| Interest rate | 6.00% a year |
| Time to repay | 30 years |
| Total repayments | $1,079,191 |
| Total interest paid | $579,191 |
Year-by-year balance
| Year | Interest | Principal repaid | Balance |
|---|---|---|---|
| 1 | $29,833 | $6,140 | $493,860 |
| 2 | $29,454 | $6,519 | $487,341 |
| 3 | $29,052 | $6,921 | $480,420 |
| 4 | $28,625 | $7,348 | $473,073 |
| 5 | $28,172 | $7,801 | $465,272 |
| 6 | $27,691 | $8,282 | $456,990 |
| 7 | $27,180 | $8,793 | $448,197 |
| 8 | $26,638 | $9,335 | $438,862 |
| 9 | $26,062 | $9,911 | $428,951 |
| 10 | $25,451 | $10,522 | $418,429 |
| 11 | $24,802 | $11,171 | $407,257 |
| 12 | $24,113 | $11,860 | $395,397 |
| 13 | $23,381 | $12,592 | $382,805 |
| 14 | $22,605 | $13,368 | $369,437 |
| 15 | $21,780 | $14,193 | $355,244 |
| 16 | $20,905 | $15,068 | $340,176 |
| 17 | $19,975 | $15,998 | $324,178 |
| 18 | $18,989 | $16,984 | $307,194 |
| 19 | $17,941 | $18,032 | $289,162 |
| 20 | $16,829 | $19,144 | $270,018 |
| 21 | $15,648 | $20,325 | $249,693 |
| 22 | $14,395 | $21,578 | $228,115 |
| 23 | $13,064 | $22,909 | $205,205 |
| 24 | $11,651 | $24,322 | $180,883 |
| 25 | $10,151 | $25,823 | $155,060 |
| 26 | $8,558 | $27,415 | $127,645 |
| 27 | $6,867 | $29,106 | $98,539 |
| 28 | $5,072 | $30,901 | $67,638 |
| 29 | $3,166 | $32,807 | $34,831 |
| 30 | $1,142 | $34,831 | $0 |
Stress test this loan at higher rates, or see how much you can borrow.
An estimate: interest is charged at the repayment frequency and the rate never changes. It leaves out fees, redraws and rate changes, and assumes the lender accepts extra repayments. Check fixed rate loans for an extra repayment limit, and confirm figures with your lender.
Is Bendigo Bank good for home loans?
Bendigo Bank stands out for one feature: a 100% offset on both fixed and variable loans (Flex Home Loan), which few lenders offer.
Pros
- +100% offset on fixed rates as well as variable (Flex, Complete)
- +Lends up to 95% on Flex
- +Takes part in the 5% Deposit Scheme
- +No ongoing fees on Easy
Cons
- -Rates for new business can differ from existing customers' rates
- -Easy Home Loan limited to 80% LVR
- -Express offers only a partial offset when fixed
Who Bendigo Bank suits
- Borrowers who want to fix and still use an offset
- First home buyers using the 5% Deposit Scheme
- Refinancers who want a simple online application (Express)
About Bendigo Bank
Bendigo and Adelaide Bank is an APRA-regulated bank that trades as Bendigo Bank. You can talk to a home loan specialist or, for a refinance, apply online.
Its home loans are the Flex Home Loan (premium, offset on fixed and variable), the Easy Home Loan (simple, low fees) and the Express Home Loan (online application for refinancers).
- Ownership
- Bendigo and Adelaide Bank Limited.
- Lender and licence
- Bendigo and Adelaide Bank Limited ABN 11 068 049 178, Australian credit licence 237879
Bendigo Bank home loan products
Flex Home Loan
A premium loan with a 100% offset on both fixed and variable rates (up to six offset facilities per loan), online redraw and lending up to 95% of the property value (owner-occupied principal and interest).
Easy Home Loan
Bendigo's simplest loan: low upfront fees, no ongoing fees, unlimited extra repayments on a variable rate, lending up to 80% of the property value.
Express Home Loan
An online application aimed at refinancers, with a low variable rate. Full offset on the variable rate; a partial offset on the fixed rate. Maximum LVR 80% for the advertised rate.
Complete Home Loan
Bendigo's other full-offset loan: a full offset is available on both fixed and variable Complete Home Loans.
Bendigo Bank home loan rates: how they are set
Bendigo quotes its Flex and Easy headline rates for owner-occupied principal and interest loans at 70.01% to 80% LVR, and its Express rate for a maximum LVR of 80%. Its rates are for new business and can differ for existing customers, so existing borrowers should ask for a review.
For fixed rates, Bendigo's comparison rate assumes the loan reverts to its current variable rate at the end of the fixed period.
For a benchmark, the RBA's average rate on new owner-occupier variable loans across all lenders was 6.23% in August 2026, and 6.40% for investors (published 8 October 2026). The RBA's cash rate target was 4.60% as at 10 October 2026, after a 0.25 point rise effective 30 September 2026; its next decision is due on 3 November 2026.
Bendigo Bank vs the big four
All five are 5% Deposit Scheme lenders. The big four don't offer an offset on fixed loans; Bendigo's Flex does, on both fixed and variable. If you want the certainty of a fixed rate without giving up an offset, Bendigo is one of very few options. See CommBank and Westpac.
Bendigo Bank vs Bankwest
Bankwest offers a 40% offset on fixed loans; Bendigo's Flex offers 100%. Bankwest isn't a 5% Deposit Scheme lender; Bendigo is. See our Bankwest review.
How to apply for a Bendigo Bank home loan
- 1
Apply for pre-approval online or talk to a home loan specialist
- 2
Refinancers can use the Express Home Loan online application
- 3
Bendigo assesses serviceability and values the property
- 4
Approval and loan documents
- 5
Settlement; link offset facilities (same customer name as the loan)
Check how much you could borrow with our borrowing power calculator; Bendigo Bank's own calculator applies its own lending policy, so its figure can differ.
Budget for stamp duty: NSW stamp duty calculator · VIC stamp duty calculator · QLD stamp duty calculator · WA stamp duty calculator · SA stamp duty calculator · TAS stamp duty calculator · ACT stamp duty calculator · NT stamp duty calculator
Before you apply, ask for the key facts sheet for your loan amount. Every lender must provide one in the same format, which makes loans easy to compare side by side.
Bendigo Bank home loan questions
Can you have an offset on a Bendigo Bank fixed loan?
Yes. The Flex Home Loan and Complete Home Loan offer a full offset on both fixed and variable loans, with up to six offset facilities per loan. The Express Home Loan has a partial offset when fixed.
How much can I borrow with Bendigo Bank?
Up to 95% of the property value on the Flex Home Loan (owner-occupied, principal and interest), subject to approval and LMI. The Easy Home Loan goes up to 80%.
Is Bendigo Bank part of the 5% Deposit Scheme?
Yes. Bendigo Bank is on Housing Australia's participating lender list.
Does Bendigo charge ongoing fees?
Not on the Easy Home Loan, which has low upfront fees and no ongoing fees. Check the fee schedule for Flex and Complete.
