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Bendigo Bank reduces Bendigo Express and Basic home loan variable interest rates

9 April 2019 |Consumer Banking

Bendigo Bank has announced it is decreasing its Bendigo Express Home Loan and Basic Home Loan variable interest rates.

The changes for new residential owner-occupied loan customers include:

  • Bendigo Express Home Loan: Owner occupier principal and interest variable loans will decrease by 0.10% p.a. to 3.79% p.a.
  • The Basic Home Loan: Owner occupier principal and interest variable loans will decrease by 0.20% p.a. to 3.79% p.a.

The changes are effective Friday, 12 April 2019 for both new Basic and Express owner occupied principal and interest residential loan customers.

Bendigo Bank Executive, Consumer Banking, Richard Fennell said the changes aim to provide Australians greater choice with their banking through this highly competitive offer: “For customers who may be considering a new mortgage or change of mortgage provider, our decision to reduce the rate on our Basic and Express Home Loan products will provide them with a highly competitive offer.

"Some of our customers, particularly first home buyers, may prefer the assisted home loan journey and market-leading service excellence of our Bendigo Bank branch and Mobile Lender Network - while digitally savvy customers may be happier choosing the ease, speed and convenience of the Bendigo Express online experience.

"Whichever loan pathway customers choose, both are highly price competitive and easy to manage with flexible terms and additional repayment options.

“We believe the decision to reduce rates on these products will prove timely for customers looking for a great value mortgage along with the fantastic customer experience for which our Bank is famous.

“This decision underscores our commitment and vision to be Australia's bank of choice whether that choice is to apply online with the Bendigo Express instant home loan or in person with Bendigo Basic”, Mr Fennell concluded.

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