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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.
Bendigo Home Equity Loan
The all in one home loan that works for you. The Bendigo Home Equity Loan is a flexible line of credit loan with full transactional functionality, meaning you 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.
| Loan Features |
| Minimum Loan Amount |
$5,000 |
| Loan Term |
Reviewed as required |
| Interest Rate |
Variable
Interest on any credit balance is calculated at Ultimate Account rates and paid monthly. |
| Interest Calculated |
Daily |
| Interest Debited |
Monthly |
| Scheduled Payments |
Repayments only required to keep the account balance below the approved credit limit. |
| Additional Repayments |
No payment restrictions |
| Redraw Facility |
N/A |
Additional Transaction
Account Rebates |
Yes, receive a full Transaction Account rebate on ALL eligible Transactional Accounts (including the Home Equity Loan)* |
| Offset Account |
Cannot be linked to a Mortgage Saver, however additional repayments act in same manner as credits to an offset account. |
| Maximum LVR |
Up to 90% on the value of the property including Lender’s Mortgage Insurance Premium if capitalised (Note if LVR exceeds 80%, LMI is required) |
| Credit Increases |
Yes** |
| Access Methods |
Cashcard, Debit Card, Phone & Internet Banking, Branch Access, Bank@Post and optional 50 form personalised cheque book |
| Additional Benefits |
| Insurance |
Free Bendigo Home Insurance from the time of signing the purchase contract until settlement (Max free cover period, 90 days) with the purchase of a new Home or Home and Contents Insurance policy. After settlement, customers can choose to pay their premiums annually or if preferable pay by the month. |
| Credit Card |
Pre-Approval for a Bendigo Bank Credit Card**
3.00% p.a. discount on the Bendigo Red Credit Card - Up to 44 Days Interest Free |
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