Lender Overview
Bendigo Bank is an APRA-regulated bank listed on the ASX (ASX: BEN). It operates through a network of community bank branches across regional and metropolitan Australia, where local communities share in the profits. Bendigo Bank owns Adelaide Bank, which provides mortgage products through the broker channel under the Adelaide Bank brand.
Loan Products Offered
Express Home Loan
Variable rate product with competitive pricing and no annual fee. Unlimited extra repayments.
Complete Home Loan
Package product with offset account, fee waivers, and discounted rate. Annual fee applies.
Fixed Rate Home Loan
Fixed terms of 1 to 5 years available for owner-occupier and investor purposes.
Adelaide Bank Smartfit
Broker-distributed product from Bendigo's Adelaide Bank subsidiary. Often one of the more competitive rates in the broker channel.
Pros and Cons
Pros
- +Community bank model means profits are reinvested locally
- +High customer satisfaction, particularly in regional areas
- +Adelaide Bank brand provides competitive broker-channel pricing
- +Transparent fee structure
Cons
- -Rates may not be as competitive as digital non-bank lenders
- -Processing can be slower than purely digital lenders
Typical Rates
| Loan Type | Indicative Rate |
|---|---|
| Owner-Occupier Variable (P&I) | RBA cash rate + 2.60% to 3.15% (indicative) |
| Owner-Occupier Fixed | Market rate at time of fixing |
| Investor Variable (P&I) | RBA cash rate + 2.90% to 3.50% (indicative) |
Adelaide Bank rates through the broker channel may differ. Confirm with Bendigo or Adelaide Bank directly.
Application Process
- 1
Apply online, via a community branch, or through a broker (Adelaide Bank)
- 2
Standard documentation required
- 3
Approval typically 3 to 8 business days
Who Bendigo Bank Suits Best
- ✓Borrowers who want to support community banking and local investment
- ✓Regional borrowers with access to a Bendigo community branch
- ✓Broker clients considering Adelaide Bank for competitive pricing
