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Bendigo Bank
Don't Get Choked By Credit Card Fees
Bendigo BankIf you have ever forgotten to return a DVD rental to the store on time, you will know the annoyance of being charged late fees. Every dollar you spend on late fees of any kind is a dollar wasted. When it comes to credit cards, such as the range of cards offered by Bendigo Bank, the fees can really hurt.
If your Bendigo Bank credit card has a minimum repayment of more than $25 and you don't pay it within 30 days of the due date, you will be hit with a Credit Card Default Fee of $15.
It pays to be organised when it comes to your credit card. In addition to late fees, Bendigo Bank will charge a fee of $27.50 if you spend over your credit card limit. To make matters worse, this fee is charged every day that you spend with your card while your balance remains over the limit. So if you have gone over your Bendigo credit card limit without realising and continue to use your card, you could be charged this fee several times.
Bendigo Offer to Clear Credit Card Clutter
Bendigo BankIf you have to spend five minutes cramming your cards back into your purse or wallet after every time you pay for something, it is definitely time to consider how many cards you really need. In addition to literally stretching the leather of your purse, too many credit cards can cause a huge strain on your finances. If you have a number of credit cards absorbing your money through fees and interest, it's time to clear the clutter, feng shui your finances and consolidate your debts.
Bendigo Bank allow their credit card customers to use balance transfers in order to consolidate their debts. If you are a Bendigo customer, this means the outstanding debt on any department store cards or credit you may have with other institutions can be transferred to your existing Bendigo credit card balance.
The Ups and Downs of Bendigo's Fixed Rate Loan
Bendigo BankYou don't have to look hard to see that the movement of the interest rate set by the Reserve Bank gets regular coverage in newspapers, radio bulletins, TV reports and websites. Home owners are continually on edge, worrying about how an interest rate change will affect their finances. With a fixed rate home loan such as Bendigo Bank's Fixed Rate Residential Home Loan, you can rest easy knowing that the amount of your monthly repayments will not change for the period of your fixed rate term.
The Bendigo Bank Fixed Rate Residential Home Loan offers a fixed rate, calculated daily, charged monthly and payable on a weekly, fortnightly or monthly basis.
Bendigo Home Equity Loan: The Cost of Unlocking Your Cash
Bendigo BankCould you do with some extra cash for home renovations, a new car or an overdue holiday? You may be interested in looking into a home equity loan. This is a line of credit loan which allows eligible borrowers to release the equity they have built up in their homes.
Bendigo Bank's Home Equity Loan is available to owner occupiers and investors on a principal and interest, or interest only basis.
The Bendigo Home Equity Loan has an attached debit card facility and offers borrowers a reduced rate on a Bendigo Red Credit Card. It is also offers portability, which means the loan can be transferred to another property with a transfer fee of $250 applies. But compared to other home equity loans which offer the option of a redraw facility with no fees or minimum withdrawals required and no application fee for the loan itself, the Bendigo Home Equity Loan has only basic features.
Tap Into Bendigo Bank's Retirement Lifestyle Income
Bendigo BankIf your house was a giant piggy bank, imagine how many thousands of gold coins it would contain. Wouldn't it be great to release the equity in your house and tap into that wealth of accumulated funds to support you in your retirement?
With the rising cost of healthcare and general living expenses, and a decreased ability to rely on government assistance, many Baby Boomers are looking to reverse mortgages, such as Bendigo Bank's Retirement Lifestyle Income, to fund their retirement lifestyle.
Also known as Spending the Kids Inheritance or SKI-ing, reverse mortgage products such as the Bendigo Retirement Lifestyle Income enable retirees to release the equity in their homes to fund a standard of living that would be otherwise out of reach.
Bendigo Bank Tackles Interest Only Loan
Bendigo BankHouse prices continue to rise, leading more and more homebuyers to make the most of the boom by purchasing an investment property. So naturally, the big banks are cashing in on the action by creating tailored home loan products, such as the Bendigo Bank Interest Only Loan.
An interest only loan means that your repayments cover only the interest component of your loan. A product such as the Bendigo Bank Interest Only Loan offers lower repayments than a principal and interest loan, which may provide your cash flow with a helpful boost.
The Bendigo Bank Interest Only Loan allows you to choose from variable or fixed interest rates for a maximum term of five years. Fixed interest is a popular option for interest only loans, as it means you can budget for your repayments years in advance without having to worry about fluctuating interest rates affecting your investment. After the five-year term of your interest only loan, you are generally required to repay the principal as in full at the end of the loan term.
Unwrapped: Bendigo Bank's Ultimate Package
Bendigo BankShopping for a home loan is similar to shopping for groceries in that there is one simple rule:" don't be fooled by the packaging." With the number of different home loans available through banks and non-bank lenders, it is increasingly important for homebuyers to cut through the marketing hype and measure the true value of the package to their financial situation.
Bendigo Bank, for example, claims to have developed the "Ultimate Package" for homebuyers." They offer a 0.20% per annum reduction on their variable home loan rate for customers who have a Bendigo Transaction Account, and House Insurance, Contents Insurance or Loan Protection Insurance through the BBL Insurance.
Bendigo Bank Grabs at Green Market
Bendigo BankBuilding or buying a home doesn't have to cost the earth. If you're committed to finding environmentally friendly solutions, there are several measures you can take to promote energy and water efficiency in your home.
As the green consciousness of Australians is rising, lenders are stepping in to offer custom designed financial products to the green market.
One example is the Bendigo Bank Green Home Loan.
This home loan offers a 0.50% per annum reduction on their residential variable interest rate as an incentive for buying or building an energy and water efficient home. According to the Bendigo Bank, a Green Home Loan could save hundreds dollars a year on your home loan repayments.
