The new product is delivered in partnership with Tic:Toc, an online lender backed by Bendigo & Adelaide Bank.

As it stands the product's variable interest rate for owner-occupiers is 5.83% p.a. (5.98% p.a. comparison rate*).

The comparison rate includes the offset account, which is $10 a month; without an offset the comparison rate is 5.87% p.a.

There will also be a special offer for NRMA insurance customers - fixed-rate terms are also available.

“This is an opportunity for us to deepen our long-term relationship with existing customers and attract new customers early in the home buying process," said Julie Batch, NRMA CEO, who also serves on the board of Tic:Toc. 

“NRMA home loans will help customers by offering a competitive rate and through our partnership with Tic:Toc, offering a fast and simple application experience.”

This adds to Bendigo's suite of white-labelled products, and now includes NRMA, Up Bank, Tic:Toc, and Qantas Money. 

Bendigo & Adelaide Bank is Australia's seventh-largest bank in terms of home loans on its books, with more than $42.6 billion in owner occupier loans, and $16 billion of investor loans as of August 2023.

How NRMA's home loan stacks up

This is how variable-rate owner occupier home loans among Bendigo & Adelaide Bank's white-labelled products compare with one another.

Lender Product & Details Advertised % Rate Per Annum (Comparison Rate*)
NRMA <90% LVR 5.83 (5.98)
Tic:Toc Live-In, <90% LVR 5.69 (5.70)
Qantas Money <90% LVR, 100k Qantas points per year 5.78 (5.84)
Up Bank Up Home, <90% LVR, includes offset 5.90 (5.90)
Bendigo Bank Express, <90% LVR 5.72 (5.87)
Adelaide Bank SmartSaver, <80% LVR 5.88 (5.89)

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