Finty
Bendigo Bank

Bendigo Bank Unsecured Student Personal Loan

UnsecuredFixed rate

Students looking at financing their study, buy new textbooks or tools or pay for a hard-earned holiday. Designed for Students, Apprentices and trainees*.

Written byDavid Boyd
Interest rate a year, from
11.74%
Comparison rate, from
11.74%
Establishment fee
None
Monthly fee
None
Borrow
From $2,000

Monthly repayment

$20,000 over 3 years

Apply now

What it would cost

At the lowest published rate of 11.74%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$662
Total repayments
$23,825
Interest
$3,825

Loan details

Rates

Interest rate (a year)
11.74%
Comparison rate (a year)
11.74%
Rate type
Fixed
Security
Unsecured

Limits and fees

Loan amount
From $2,000
Loan term
Up to 7 years
Establishment fee
None
Monthly fee
None

How it compares

Against the other unsecured personal loans we compare. Typical means the middle half of them.

Comparison rate

11.74%

From 11.74%. A typical loan starts at 10.56%.

Cost of $20,000 over 5 years

$6,536

Interest and fees at its starting rate. Typical is $5,455.

Setup fee

None

A typical setup fee is $213.

Monthly fee

None

A typical monthly fee is $10.

Longest term

7 years

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 11.74%, so the rate you see is the rate you get.
  • No setup fee. Nothing is added to the loan on day one, so you only pay interest on what you borrow.
  • No monthly fee. The cost doesn't creep up the longer you take to repay.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • No security needed. Your car or home isn't at risk if things go wrong, though missed repayments still hurt your credit report.
  • Redraw. You can take back extra repayments later if you need the money.

Cons

  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.

Similar loans

Unsecured loans from other lenders that start at a similar comparison rate.