Bendigo Bank has delivered another record month in digital home loans after approving $60.7 million in loans and receiving over 500 home loan applications for its BEN Express product in March.
BEN Express is one of Australia’s first fully digital loan offerings, with the Tic:Toc powered platform providing customers with quick online approval at a competitive interest rate.
Richard Fennell, Chief Customer Officer Consumer Banking at Bendigo and Adelaide Bank said the Bank understood the importance of a timely ‘decision to yes’ for customers as activity in the property market picks up.
“We see digital home loans as a key component of the lending products we offer at Bendigo and Adelaide Bank and are pleased to see customers embracing BEN Express in this way.
“We acknowledge that for many of our customers, digital is never going to replace face-to-face banking, an area Bendigo and Adelaide Bank excels in, however BEN Express has enabled us to respond to changing customer preferences by offering services which are digital by design and human when it matters”, Mr Fennell said.
“If you prefer doing things online and don't feel compelled to meet with a lender, then an Express Home Loan with quick online approval and a competitive interest rate might be just what you're looking for.”
BEN Express has proved popular with busy, time poor professionals with the process from completing an application online to approval taking place in less than one hour for some applicants.
BEN Express is available to eligible customers who are buying or refinancing an established property with an LVR of 90% or below with a maximum lending facility of $3 million available.