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Express Home Loan

Our online only home loan with our lowest variable rate

  • Fast online approval or pre-approval
  • New home loans only
  • Offset available on fixed and variable loans3
Variable interest rate2Owner occupied
Comparison rate1Owner occupied
Variable interest rate2Owner occupied
Comparison rate1Owner occupied

Express has won multiple home loan awards.#

RateCity Gold Award 2022 for Best Large Bank Home Loan, Best Variable Home Loan over 1 million and Best Variable Home Loan.
Have you already started your application and want to resume?

Refinance and save with Express Home Loan

Buy with confidence

Get quick online pre-approval with our Express Home Loan.

Pre-approval means a lender has provided an obligation-free estimate on the amount you can borrow to purchase a property. Having pre-approval doesn't mean your home loan is locked in. There are various terms, conditions and lending criteria that must be met to receive formal approval. However, pre-approval is a good first step in the buying process, signalling to real estate agents you can afford the property and are a genuine buyer.

Applying for a home loan - how it works

Prepare your documents

Prepare your information such as identification, property address, income and expenses.

Apply online

We'll value your property, verify your personal details, run a credit check and validate your income and expenses.

Get full approval quickly

Receive a quick decision. If approved, your loan documents will be emailed to you the same day.

Before you start

Check my eligibility

Is Express the right choice for my situation?

  • You’re applying as a Personal customer and not wanting to use dual security or to apply as a company or Trust.
  • You're buying or refinancing an established property or land19 (not off the plan or under construction)
  • You're buying a home or investment property larger than 40m2 in a capital city or major regional centre.
  • You have at least a 10% deposit or equity, plus savings to cover fees and charges such as stamp duty.
  • We can lend a minimum loan amount of $5k, and a maximum loan amount of $10m.
  • You're currently employed, either through PAYG or self-employment.
  • You have at least one form of government ID, such as a passport, drivers licence or Medicare card.
  • You're an Australian citizen or permanent resident who lives in Australia.
  • You don't currently have an Express Home Loan.

Didn't answer yes to all the above? We can still help you. View our other home lending solutions, talk to a home loan specialist, or request a call back.

What do I need to apply

What do I need to apply?

Please have the following information ready before you apply. We will run a credit check and validate your income and expenses in real-time as you complete the application.

Please have the following information ready before you apply. We will run a credit check and validate your income and expenses in real-time as you complete the application.
  • The address of the home you wish to purchase or refinance.
  • A valid email address and mobile phone number.
  • One of the following: Australian drivers licence; Australian passport; foreign passport with an Australian Visa; or a Medicare Card.
  • Your bank details if you wish to upload your financial documents digitally.
  • If you’re uploading your financial documents manually, we will need copies of your bank statements. This includes credit card, personal or home loan, and/or deposit statements. We’ll be in touch if additional documentation is needed.

How it works

How it works

Step 1 - Your property

We’ll ask you about the property address and the amount you want to borrow. Next, we run an automated valuation to make sure we can lend against the home. If at any point it becomes apparent that you are not eligible, we’ll let you know right away.

Step 2 - Your loan

We’ll enquire about your priorities and what’s important to you, as well as how frequently you would like to make repayments. We’ll then suggest some loan options that could suit you.

Step 3 - Apply for your loan

We’ll verify your personal details and run on instant credit check. If that's all clear, we’ll ask about your employment, followed by some questions about your deposits and what other assets you have. If you already own a property, we will need to receive details about it.

Step 4 - Estimate your expenses

This will help us determine your current position. You’ll also need to advise us of any other loans or credit cards you currently have.

Step 5 - Verify your finances

For fast digital validation, login securely with your bank accounts and we will receive read only copies of your account statements. Alternatively, you can manually upload your transaction statements and one of our team members will review these as soon as possible.

Step 6 - Outcome

Once all your information has been electronically processed, and if your application is assessed as suitable for the loan type and amount, you’ll receive approval. We'll get in touch if there is anything else.

What happens next

What happens next

This is also an appropriate time to obtain building insurance and arrange a conveyancer to officially transfer the property title. You’ll need to have your identification verified in-branch – once that’s done, we will email you your home loan contract.

Read and sign the specified parts of the documents that need to be returned to us. The final step in the process is waiting for the settlement date at which point you will become the property’s new owner!

Ready to get started?

Frequently asked questions


Pre approval means a lender has provided an obligation-free estimate on the amount you can borrow to purchase a property, but they have not provided formal approval. Having pre-approval does not mean your home loan is locked in. There are various terms, conditions and lending criteria that must be met to receive final approval.

Obtaining pre-approval could:

  • Give you a realistic view on what property you might be able to afford.
  • Help you feel more confident when making an offer.
  • Make you seem like a more serious buyer in the eyes of the agent and seller.
  • Help you to move quickly to secure your dream property.

These terms mean the same thing. The initial process a lender undertakes to determine your financial position and how much they may be willing to lend you. Pre-approval is subject to terms, conditions and lending criteria.

Finding your dream property can take time or in some scenarios, it can happen very quickly. Therefore, there is no "right" time to apply. However, it's important to note that Bendigo Bank pre-approval is valid for 2 months or 60 days (provided your circumstance don't change). Take this into consideration when applying, if you apply too early you may risk needing to re-apply and applying too late might mean you don’t feel confident to buy your dream property.

You can apply online or in person via a branch with a dedicated lender.  Remember, a pre-approval gives you an idea of how much you might be able to borrow, it is not a formal approval.

A Bendigo Express pre-approval lasts for 60 days, pending your circumstances don't change. If your pre-approval expires before you buy a property, you will need to re-apply.

Yes. Once you have pre-approval you may have a better understanding of your budget and therefore may feel more confident bidding on a property at auction. Please note that if you are the highest bidder and are successful at the auction, you will then need to obtain formal approval and pay the deposit after the auction.

A home loan can be declined despite gaining pre-approval if it does not meet the lender's lending criteria. Some examples of this could include the property type, changes in your circumstances and the property's value.

You can continue searching for the property you want to purchase. Once you decide to put in an offer and it is hopefully accepted, you will then need to apply for formal approval.

Don't worry, we will email you a reminder 5 days before expiry that will allow you to extend your offer by another 60 days and we will be happy to help you through the process.

Express Home Loan

If you can answer yes to the following few questions, there’s a good chance we can help you with a home loan.

  • Property type – you’re buying or refinancing an established property (not off the plan or under construction).
  • Location – you’re buying a home or investment property in a capital city or major regional centre. If you’re purchasing, - an approximate address of the property you’re looking to buy (if you know the exact address, use that!).
  • Deposit amount – you have at least a 10% deposit or equity, plus savings to cover fees and charges such as stamp duty. If you have less than a 20% deposit, you'll also need to pay Lenders' Mortgage Insurance (LMI).
  • Loan amount – we can lend a minimum loan amount of $5K, and a maximum loan amount of $3M.
  • Employment – you’re currently employed, either through PAYG or self-employment
  • ID – you have at least one form of government ID, such as an Australian Passport, Driver’s Licence or Medicare card.
  • Country – you’re an Australian citizen or permanent resident who lives in Australia.

Unfortunately, no. You must be an Australian citizen or a permanent resident living in Australia to be eligible for an Express Home Loan.

There are those who will lend to foreign citizens or expat Australians living abroad and wanting to buy investment property in Australia, but there are usually higher interest rates attached to such loans and a larger deposit is often required.

Certain foreigners and visa holders may also be required to pay a surcharge on stamp duty and possibly land tax, depending on which state they want to purchase in.

Before you apply for an Express Home Loan, you’ll need to make sure you are eligible and have your information ready.

  • The address of the home you wish to purchase or refinance
  • A valid email address and mobile phone number
  • One of the following:
    • Australian Passport
    • Foreign Passport with an Australian Visa or
    • Medicare Card
  • Your bank details if you wish to upload your financial documents digitally.
  • If you choose to upload your financial documents manually, you will need copies of your bank statements, including any credit card, personal or home loan, and/or deposit statements.

After you’ve applied for an Express home loan, we’ll either approve you on the spot, approve you conditionally, subject to providing further info, or advise you we can’t lend you the money.

If you’re approved, you’ll either have ‘in principle’ approval to borrow the amount you want or, if you’re buying a particular property and your offer has been accepted by the seller, you’ll have final approval when you show us the purchase contract.

Here’s how it works once you’re approved:

  • You’ll sign the contract for your new home, pay your deposit to the agent and confirm your final settlement date, which is usually 30 – 60 days.
  • Other things you’ll need to take care of include building insurance for your new property, organising for the utilities to be switched over on settlement day and having your mail redirected.
  • If you’re buying a property for yourself, we pay the seller the agreed price and your home loan begins.
  • If you’re refinancing, we pay out your existing lender and your new loan begins.

Once you apply for an Express Home Loan, you’ll receive your log in credentials, which will allow you to log in and manage your account online. This will also allow you to check on the status of your loan application, if it hasn’t been approved on the spot.

Your log in credentials will include your account details, a customer number and a temporary password, which you’ll need to change for security reasons.

If you misplace or forget your customer number or password, you can contact us on 1300 289 796.

We've called it the Express Home Loan because it's fast. 

As our application process is entirely online, we’ve been able to streamline it right down to the basics.

Once you’ve completed the application process (and real-time assessment), you’ll either be approved or referred to one of our home loan experts to fill in any blanks.

Then when you're approved, you'll get an email from us with next steps, along with your home loan contract. You’ll also get a settlement pack which will outline further steps such as getting an in-person ID check. 

The application process

Starting with your eligibility, we'll ask a few basic questions about the property you'd like to purchase. We run a quick check on the property to make sure we can lend against it, and then we'll ask about your priorities for having a home loan. Our system will recommend a loan product for you (for example, a Variable Live-In Principal and Interest home loan or a 2-year Fixed Live-In Principal and Interest home loan).

We'll ask for your name and D.O.B., then digitally verify a form of your ID. You can use your Driver’s Licence, an Australian Passport, your Medicare card or a foreign passport with an Australian Visa. Please note: at this point, we'll run a credit check.

You are able to resume your home loan application where you left off.

You will be asked to sign in with the user name and password you set during the application. If you have forgotten your password you can reset it.

We'll ask for a bit of information around your current financial situation. You'll have the opportunity to provide a thoughtful estimate of your income and expenses, as well as information about your current commitments (such as any existing home or car loans).

Then to instantly verify the info, you can securely link your bank account(s) so our in-house technology can fetch read-only copies of your transaction statements. Don't worry – we use bank-grade technology to do this part, and no one will ever see your bank logins.

You can manually upload copies of your transaction statements, but we'll need one of our team members to review these, so it'll take a little longer.

After you submit your financials, our application will come to a decision. If you're approved, then all you have to do is wait for the settlement process.

If there's something we need to look into further, we'll let you know and one of our Credit Assessors will be in touch shortly.

There are three ways Bendigo Express can value your property:

  1. Automated Valuation Model (AVM). If our technology can get a good read on your property, we'll do an AVM, which means we will value your property instantly by analysing the values of comparable properties. How? We've integrated external providers, existing property and land databases and our own tech models to get a very good estimate of the property value.
  2. Desktop valuation. If we are not able to value your property instantly, we'll need to do a desktop valuation or a full valuation. A desktop valuation is when an accredited valuer uses publicly available information such as tax records and comparable sales in the area to work out a property’s value.
  3. Full valuation. A full valuation is when we arrange for an independent and qualified valuer to inspect your property and issue a report with the valuation. This may be required if:
    • You have less than a 20% deposit
    • The property’s estimated value is more than $2 million
    • The property is a high density apartment.

In a full valuation, the licensed appraiser visits the property, takes photographs and measurements and evaluates the location, features, selling points and overall condition of the property.

Once you get to the personal details section of our application and agree with our Privacy Policy and Credit Guide, our platform will trigger a credit check from the two main credit reporting bodies in Australia: Equifax and Illion.

Credit scores generally range from 0 to 1200, with higher scores suggesting lower risk to the lender. They are calculated by the credit reporting bodies using information in your credit report, including your repayment history; length of credit history, how much debt you have and the types of credit you've applied for.

Higher credit scores are an indicator that you’ve demonstrated responsible credit behaviour, making lenders more likely to lend to you, while lower scores may make it harder for you to qualify for a loan or get a lower interest rate.

You can improve your credit score by making your repayments on time, paying off your debts quickly, keeping your credit card balance well below the limit and only applying for credit when you're serious.

Credit reporting bodies supply us with your credit history report (and your credit score) so we can responsibly assess you for your home loan. Our enquiry remains on your file, which is like having a post-it that says "Applied for a Bendigo Express home loan". This is a standard check that all lenders do for both pre-approval and full approval.

Having multiple credit enquiries on your file can impact your score negatively, particularly when made in a short period of time, because it can look like you're shopping around for lots of different loans. Lenders may ask you to explain recent enquiries on your credit report if they cannot reconcile them to your existing credit commitments.


There are 14 steps to home ownership with an Express Home Loan.

  1. Home loan approval - Get approved from Bendigo Bank to borrow the amount you need to purchase you home.
  2. Find your place to call home - Find your perfect home and make an offer, within your approved loan amount. If your offer is accepted, you move onto step 3.
  3. Sign your purchase contract, pay your deposit - Sign your purchase contract for your new home and pay your deposit to the agent. This is when you'll confirm your settlement date (usually between 30 and 90 days from signing).
  4. Protect your home - As part of any home loan agreement you’re required to have adequate building insurance cover. This protects you, as well as us/the lender, should something happen to your home. Proof of building insurance must be provided when you submit your other loan documents. If your new home is an apartment, you may just need a copy from Strata. At Bendigo Bank we offer a range of home insurance cover options and payment flexibility. We have a dedicated insurance team who are ready to help make sure you’ve got the level of cover you need. Find out more here or simply call 1300 557 155 to speak to our team.
  5. Finalising home loan approval - Email your signed purchase contract to us so we can provide final approval for your home loan.
  6. Confirm your identity - This last ID check confirms in person that you are who you say you are. You will receive instructions in your approval email from us advising the steps that will need to be completed.
  7. Receive your home loan contract - Receive via email (or mail if you have requested we post them) your home loan contract and other settlement documents. If you chose email, we can send these to you within 30 minutes depending on which state you live in.
  8. Hire a conveyancer - A conveyancer is someone who legally transfers the property you buy into your name. PEXA (Property Exchange Australia) is an online platform for digital conveyancing which enables secure, reliable and fast digital settlements. Talk to us if you need help or would like further information about this process.
  9. Read and sign your home loan documents - Ensure you take time to read through your home loan contract and settlement documents carefully. Once complete, sign the loan contract and all other documents and mail them to our online home loan conveyancer:
    LeadPoint DMS GPO Box 5276, Brisbane Qld 4001
  10. Final inspection - Conduct a final inspection on your property. The seller must hand over the property in the same condition as when it was sold. If you are concerned something has changed, please speak with your conveyancer.
  11. Organise your utilities - Arrange to have your gas, electricity, internet and subscriptions to be redirected or set up.
  12. Change of address - Your conveyancer will advise local council, water company, Strata (if applicable), and Land Tax department of the change in ownership of your property. 
  13. Settlement - Your conveyancer will call you and give you the good news that settlement has occurred. Settlement is when we formally drawn down on your loan. This means your home loan officially begins – you receive your loan and the seller receives their payment. Any additional fees, including stamp duty and government charges are also transferred during this time.
  14. The keys to your happy place - Collect the keys to your front door from your real estate agent and move in. Congratulations!

After you’ve been approved for your Bendigo Express Home Loan it’s time to look forward to settlement. If you haven’t already, sign the purchase contract for your new home and pay your deposit.

After, make sure you get building insurance and get yourself a conveyancer to transfer the title officially. We’ll email you your loan documents. Sign the documents, put them in the post and wait for your settlement date when the finance changes hands. We’ll keep you up to date with SMS updates

Next, our solicitor gets to work and chats to your conveyancer. You’ll need to confirm that you are you. We provide an instruction sheet in your settlement pack for arranging an appointment with one of our representatives to verify your identification in person.

Once your home settles, you’ll get the keys to unlock your new home and celebrate.

There are different rules for different Australian states about who can act as a witness, which will be outlined in your home loan documents. The witness may need to meet certain criteria, depending on where you're located. This criteria could be:

  • a Justice of the Peace,
  • a commissioner for declarations,
  • an Australian lawyer,
  • a notary public,
  • a licensed conveyancer, or
  • another person approved by the Registrar of Titles.

However, in New South Wales and South Australia, the witness can be any adult who has known you for 12 months.

A few days after your loan settles, we’ll give you a call to check-in to see how things are going. We’ll make sure your automatic loan repayment is set up the way you want it to be.

We’ll ensure you are all set up for online banking and advise where the nearest Bendigo Bank branch is should you require additional support.

Fees and features

LMI stands for Lenders’ Mortgage Insurance and is an insurance paid by the lender when your deposit is less than 20% of your property’s purchase price, to protect them in case you can’t repay your home loan. And you cover the cost of it. In other words, if you don’t have a 20% deposit saved but want to buy a home anyway, you’re probably going to need to cover the cost of LMI.

LMI allows customers with smaller deposits, to buy their own home sooner.

This is a State Government tax based on the purchase price of the property. Each state and territory has different rules and calculations.

The following examples are based on a $700,000 existing property to live in (and a second/next home buyer). Any stamp duty exclusions, discounts or waivers that may apply have not been considered in this example. The data is current as at 31st August, 2020

State Cost of Stamp Duty
ACT $20,040
NSW $26,835
NT $34,650
QLD $17,350
SA $32,330
TAS $26,748
VIC $37,070
WA $27,265

Many Banks charge borrowers an annual package fee of up to $400. With a Bendigo Express Home Loan, you only pay a $10 monthly service fee.

Valuation fees (charged at cost, per property):

  • Electronic valuation: $134.20
  • Full valuation - less than $1 million in value: $220
  • Full valuation - greater than $1 million in value: $440

Yes, an offset account is a savings account that’s linked to your home loan which offsets the balance of your home loan, so you only pay interest on the home loan balance minus the amount in your offset account.

A full offset account is available on variable rate home loan or partial offset facility on fixed rate home loan.

See our offset account page for more information.

  • Save interest on your home loan.
  • All the flexibility of a transaction account
  • Multiple offset accounts are available to help you manage your funds16.
  • No minimum balance
  • No additional offset account fees
  • Full offset available on variable, partial offset available on fixed Express Home Loans17

More information

Home loan calculators

Our selection of online tools and calculators can help you in your home loan journey.

Learn more

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Call 1300 289 796 
Weekdays: 8am to 6:30pm AEST/AEDT*
Weekends & some public holidays: 9am to 5pm AEST/AEDT

*Excludes all national public holidays



Things you should know

Terms and conditions, fees and charges apply. All information including interest rate is subject to change without notice. Full details available on application. Lending criteria apply.

Target Market Determinations for products are available.

1 Important information about comparison rate: The comparison rate displayed is calculated for a loan of $150,000 over 25 years. If the comparison rate relates to a loan with a fixed interest rate, the comparison rate has been calculated on the basis that our current applicable variable rate will apply at the end of the fixed rate period. WARNING: The comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

2 Bendigo Express Home Loan: The interest rate displayed is for a live-in (owner occupied), principal and interest loan and is based on a maximum Loan to Value Ratio (LVR) of 90%. 

3 A full offset is available on Bendigo Express Home Loans with a variable rate. A partial offset is available on Bendigo Express Home Loans with a fixed rate, where a portion of your home loan account that is equal to the balance of your linked Everyday Account is charged interest at a reduced rate (currently 1.89% p.a.) while the remaining balance of your home loan account is charged at the regular (full) home loan rate.

16 Offset facility can only be linked to one loan at any one time. A maximum of 6 offset facilities can be linked per loan account. Linked offset facility must be in same customer name/number.

17 A partial offset is available on Bendigo Express Home Loans with a fixed rate, where a portion of your home loan account that is equal to the balance of your linked Everyday Account is charged interest at a reduced rate (currently 1.89% p.a.) while the remaining balance of your home loan account is charged at the regular (full) home loan rate. All lending interest rates are subject to change. Rates are for new business and may differ for existing customers. Fees and Charges may be applicable and can be found in the Lending Fees and Charges Guide.

19 Our lending criteria is we lend for land between 40sq to 10 hectares (24.71 acres to 100,000 square metres)

Refinance calculator

The results are a guide only. They are not a quote, credit approval or offer of credit. The results are not advice on how much you can or should borrow, which product you should choose, the product features or options, or about making extra payments. You should speak to us or obtain professional advice about a loan that meets your requirements and objectives. The offset account is not available for all loan products. There are restrictions and/or certain fees payable for additional payments for some products e.g. during the fixed term of a loan. The results assume regular scheduled payments and that the interest rate does not change, and do not include any discount period. Interest rates are subject to change except during a fixed rate period. The rates and repayment amounts do not include any monthly service fees or lenders mortgage insurance if applicable. Bendigo Express available via online application only.

* Roy Morgan Single Source Data 2024

# Awarded Best Large Bank Home Loan (2022), Best Variable Home Loan Over $1M (2022) and Best Variable Home Loan (2022) by RateCity.

Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander peoples as the First Peoples of this nation and the Traditional Custodians of the land where we live, learn and work. We pay our respects to Elders past and present as it is their knowledge and experience that holds the key to the success of future generations.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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