Learn: Secured Student Personal

About the Secured Student Personal Loan

Navigating the financial needs of student life can be challenging, especially when planning major purchases such as a new or used vehicle, consolidating debts, or funding significant personal projects. The Secured Student Personal Loan from Bendigo Bank is designed to provide a solution specifically for students, apprentices, and trainees in Australia.

This product stands out by catering to the financial realities faced by young adults engaged in higher education or apprenticeships, seeking access to credit that is both flexible and predictable.

Students and apprentices often encounter obstacles when seeking traditional finance due to limited credit history or income. Recognising this, Bendigo Bank offers a loan product that leverages eligible assets, such as a car or term deposit, as security. By securing the loan against an asset, applicants may benefit from a lower fixed interest rate compared to unsecured alternatives, making regular repayments more manageable over the loan term.

With a competitive fixed rate of 7.79% p.a. and a comparison rate of 7.93% p.a., this loan helps to control borrowing costs, providing predictability for budgeting and financial planning.

Key advantages include the absence of application or ongoing fees, a rare feature in student-specific finance. Borrowers also have the flexibility to make repayments weekly, fortnightly, or monthly and can make unlimited additional payments without penalty, supporting faster debt reduction where possible.

The online redraw facility further adds convenience, allowing borrowers to access extra repayments when needed. Loan terms range from 1 to 7 years, and the minimum amount is accessible even for those with modest borrowing needs.

To be eligible, applicants must prove part-time or full-time study or an apprenticeship and provide documentation supporting the asset offered as security. Bendigo Bank has structured the application process to be straightforward, with support available at each step.

If you are considering how to make the most of your student years or apprenticeship while maintaining financial flexibility, this secured loan could present a prudent solution. For those interested in learning how to apply and understanding the full extent of the benefits, the next page provides detailed application guidance and further information on eligibility.

About Bendigo Bank

Bendigo Bank is one of Australia’s most established and reputed retail banks, now operating as part of the Bendigo and Adelaide Bank Limited group. With a heritage dating back to its founding in 1858, initially as a building society to serve goldfields communities, Bendigo Bank has grown into a diverse financial institution serving more than 1.9 million customers nationwide.

Recognised for its strong community focus, Bendigo Bank operates both through traditional branches and progressive digital services, balancing modern banking needs with trusted in-person support. The bank is consistently ranked highly for customer service and community engagement and has a large footprint throughout regional Australia as well as major urban centres.

Bendigo Bank offers a comprehensive suite of financial products beyond personal loans—including everyday bank accounts, home loans, savings accounts, investment options, insurance, credit cards, and tools for small business banking. The bank is regulated under Australia’s strict financial standards and maintains a commitment to responsible lending, transparency, and customer support.

Why Choose a Secured Student Personal Loan from Bendigo Bank?

Bendigo Bank’s Secured Student Personal Loan is designed with the specific needs of students, apprentices, and trainees in mind. This loan product stands out for several reasons:

• Tailored for Students and Apprentices: By requiring proof of part-time or full-time study, the loan offers access to finance for those often excluded due to limited credit history or financial background.
• Low, Fixed Interest Rate: The competitive fixed rate of 7.79% p.a. (7.93% p.a. comparison rate^*) is especially attractive for young borrowers wanting predictable repayments.
• No Application or Ongoing Fees: With no initial or ongoing charges, students can focus their financial resources on their educational and personal needs rather than ancillary costs.
• Flexible Repayment Options: Borrowers can choose weekly, fortnightly, or monthly repayment schedules, and are free to make unlimited additional repayments without penalty. This is perfect for those whose income may vary with casual or part-time work.
• Free Redraw Facility: Any extra payments made can be accessed easily and without charge, increasing financial control and adaptability.
• Supports Major Purchases & Consolidation: Whether buying a first car, refinancing an existing car loan, or consolidating debt, the secured loan offers a structured pathway to responsible borrowing as a student or apprentice.

This loan is ideal for university students and apprentices who want to manage their finances smartly while studying or training. The requirement for a secured asset (like a car or term deposit) in exchange for a lower interest rate makes it especially appealing for those with limited credit history but valuable possessions.

Bendigo Bank’s approach supports those who want more control over their repayments and expenses and offers transparency in fees and conditions. If you are a student or apprentice looking for a manageable, low-fee way to fund important life milestones or bridge financial gaps, Bendigo’s Secured Student Personal Loan is a practical and highly accessible choice from one of Australia’s most trusted institutions.