Key features of an offset facility

  1. Full offset on variable home loan or partial offset on fixed home loan

  2. Deposit your salary and make the most of your daily balance

  3. Non interest earning account means non-taxable

  4. Maintain all the flexibility of a transaction account

  5. No minimum balance to start offsetting

  6. Manage your money with multiple offset facilities to separate your funds

  7. No monthly service fee for a partial offset

  8. No monthly service fee for a full offset if linked to a Connect Package

How an offset facility works

  • Calculated on a daily basis, the interest on the balance in your Everyday Account will be calculated at your home loan rate (or partial offset rate) and used to offset the interest payable on your linked home loan account.
  • The higher the balance in your Everyday Account, the less interest you pay on your home loan. Current partial offset interest is 3.82% p.a.
  • Where the balance of your Everyday Account exceeds your home loan balance, your daily Everyday Account balance will be deemed equal to that of your home loan for offsetting purposes.

How to apply or find more

Online

Apply online for an Everyday Account

APPLY NOW

Call 1300 236 344

Or you can request a call from us

REQUEST A CALL

At a branch

Find your nearest Bendigo Branch

FIND A BRANCH

Partial Offset calculation example*

Loan amount: $200,000  
Loan interest rate: 7.00%  
Discounted offset loan rate:
(For illustrative purposes – current partial offset rate set above)          
5.25%  
Everyday Account balance $10,000  
   
Interest charged after 5 years $68,010  
Interest charged after 5 years (full offset) $63,923$4,087 savings
Interest charged after 5 years (partial offset) $67,055$955 savings

Home loan selector

When it comes to choosing the right home loan, everyone has different needs. Our home loan selector will help you find the loans that best suit your situation and compare their features.

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Our Connect Package is designed to save you interest.

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Green home loan

Our Green Home Loan rewards you for renovating or building in a sustainable way, with discounts on interest rates for those who meet our green criteria.

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Our products…
Connect package

Our Connect Package is designed to save you interest.

More product details Apply now
Basic home loan

Our Basic Home Loan is a low-cost, easy-to-understand home loan with flexible terms for interest and repayments.

More product details Apply now
Our products…
Connect package

Our Connect Package is designed to save you interest.

More product details Apply now
Basic home loan

Our Basic Home Loan is a low-cost, easy-to-understand home loan with flexible terms for interest and repayments.

More product details Apply now

Great reasons to choose us

  • Competitive home loan interest rates
  • Rewarding packaged loans
  • 1.5 million customers in over 500 communities Australia wide
  • Top 60 ASX listed company

Everyday Account Features

  • All in one transaction account designed to easily manage your money
  • No monthly service fee if you deposit $2000 each month or hold a home loan with us (otherwise $6 per month)
  • Unlimited EFTPOS, e-banking transactions or cash transactions at Bendigo ATMs or branches within Australia
  • Access your money with a Bendigo Blue Debit Mastercard®
  • Offset facility available
  • Access to e-statements

How to apply for an account

  • Over 16 years of age
  • Drivers licence or passport
  • Australian citizen or resident
  • 5 minutes of your time

Contact us, we'll do the work for you

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Preferred contact time *

Or you can call us on

1300 236 344

Or have a mobile lender contact you

* To simplify this illustration, initial or ongoing loan costs are not taken into account and it is assumed that the balance of the Everyday Account, the loan interest rate and the discounted loan interest rate will remain the same over the 30 year life of the loan. The interest rates quoted are for illustrative purposes only and are not intended to imply an interest rate for any current or future loan product. The discounted offset loan rate and the variable rate used to calculate interest on your loan account may be varied at the discretion of the Bank.

This information does not take your personal objectives, financial situations or needs into account. You should consider its appropriateness to your circumstances before acting on this information. Please read the disclosure documents for your selected product or service, including the Terms and Conditions, before deciding. 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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