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IMPORTANT NOTICE TO BORROWERS AND GUARANTORS

Leveraged has varied the Terms and Conditions for its margin loan products and
Additional Features, effective from 9 November 2023.  

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LEVERAGED WINS FOUR IN A ROW!

Leveraged is Money magazine’s Margin Lender of the Year for a fourth year
running – 2020, 2021, 2022, 2023^. Borrow to invest with Leveraged, and learn
why we are The Professional’s Choice.

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WANT OUTSTANDING VALUE?

Discover our 5-star award winning* margin loan designed for investors who prefer
to manage their own facility.

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WHY BORROW TO INVEST?

By borrowing to invest (also known as gearing) you can boost your investment
power by building an investment portfolio larger than if you did using just your
savings.   

Gearing can be used for a range of goals including wealth creation, saving for a
home deposit, a trip overseas, children’s education or saving outside super. 
Similar to gearing into property via a mortgage, you can also gear into the
share market with a margin loan.

Learn more


WHAT IS A MARGIN LOAN?

A margin loan is a line of credit that allows you to borrow money to invest in a
wide variety of acceptable investments - such as shares, ETFs and unlisted
managed funds - to gain additional exposure to dividends, franking credits and
the potential to accelerate investment returns.  

You can leverage an existing portfolio or create a new one to help meet your
financial goals. 

Learn more


PRODUCTS

As Money magazine’s Margin Lender of the Year 2023, Leveraged provides clients
with the flexibility to choose the loan that best suits their individual
investment requirements.



MARGIN LOAN

The Leveraged Margin Loan is a flexible loan account offering a range of
interest rate options, 3,000+ acceptable investments such as shares, ETFs and
unlisted managed funds plus the ability to either manage the loan directly or
use the services of a stockbroker/financial adviser of your choice.

 * Apply now
 * Find out more

INVESTMENT FUNDS MULTIPLIER

Exclusive to Leveraged, the Investment Funds Multiplier (IFM) is a margin loan
with built in limits and controls. In the event of a significant fall in
portfolio value, you can reduce the loan through monthly repayments until the
gearing ratio is restored to an acceptable level. 

 * Apply now
 * Find out more

DIRECT INVESTMENT LOAN

The award winning* Direct Investment Loan is a lower interest rate margin loan,
designed specifically for investors who prefer to manage their own facility
online.

 * Apply now
 * Find out more

QUICK LINKS


Acceptable investments list

Forms

Margin loan calculator

Product comparison



FINANCIAL MARKETS UPDATE

Another RBA rate hike in November as expected, but still a wide range of market
opinions for the path ahead. For our latest forecasts for interest rates and
their likely impact on the economy, hear David Robertson Chief Economist Bendigo
and Adelaide Bank.

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Video transcript - market update


Another RBA rate hike in November as expected, but still a wide range of market
opinions for the path ahead. Our latest forecasts for interest rates and their
likely impact on the economy.

The Cup Day rate increase was well anticipated after the recent CPI data, where
core inflation accelerated to 1.2% for the third quarter alone, as well as a
range of other factors all pointing to an even slower return to the RBA target.

Our view since the July pause in rate hikes has centred both on the likelihood
of tighter RBA policy by year end, due to stubbornly high services inflation,
and also, the view that rate cuts would more likely be a 2025 event, in contrast
to an earlier peak implied by the yield curve.

The CPI data added to this likely scenario as both goods and services prices
were firmer than expected, so demand is proving less responsive to higher
interest rates than the RBA had hoped.

In contrast to other comparable central banks, who started their tightening
cycles earlier than the RBA (and are now on hold), Australia’s official cash
rate is back on the ascent, although a back-to-back hike in December is most
unlikely.

The RBA statement announcing the rate hike noted the painful squeeze on
household finances, and the longer than usual lag in this tightening cycle
impacting prices, but remain ‘resolute’ in dealing with inflation.

History shows us how difficult it is to dowse the flames of inflation, in
particular amid high global energy prices, but history also shows us how
damaging rampant inflation is, so the RBA is right to prioritise this
imperative.

When core inflation is back on target then rates can fall back to more neutral
levels, but one of the challenges at present is tight labour markets. Having a
3.6% unemployment rate is a two-edged sword: strong demand for labour is
supporting the cost of living crisis, however, the unique nature of the
post-pandemic economy means a more resilient jobs market makes the RBA’s job of
dealing with inflation even more challenging.

Other countries have started to see the tightness in their labour markets
recede, and we do still expect the unemployment rate here to steadily rise, but
it hasn’t so far.

The RBA Statement on Monetary Policy out later this week will show their latest
forecasts for jobs, inflation and economic growth, and none of these are likely
to indicate anything but a tightening bias for all of 2024.

Another challenge for the RBA in trying to achieve a better balance between
constrained supply and excess demand is the strength in household spending,
despite the extent of rate hikes so far.

The September retail sales data showed that household spending was up 5%
year-on-year, and while that growth rate was over 9% for non-discretionary
items,

even discretionary spending was slightly higher than a year ago.
Non-discretionary spending was sharply higher for transport, healthcare and
food, but there were also increases for discretionary items such as recreation,
cafes and accommodation.

One of the questions for the RBA is the degree to which households are becoming
accustomed to price increases and so are motivated to buy in advance of higher
costs ahead; in other words, inflation expectations.

In summary, while not expecting another rate hike next month, the risk of
another increase in February or May (after the next quarterly CPI releases) is
material, and while economic growth and the jobs market have remained resilient,
it’s important to be realistic about the timing of any interest rate relief, and
to budget accordingly.

Fortunately, while the domestic economy slows, offshore demand is holding up
well, and the prospect of more trade tariffs being lifted is a welcome outcome.

And that’s the market update from Bendigo Bank.


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Sydney, NSW, 2001

*2022 Canstar 5-star rating Margin Loan for outstanding value in Share Investor
profile

°Lowest ever advertised variable rate

^Rating is only one factor to consider when choosing a financial product

 

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Bendigo and Adelaide Bank acknowledges Aboriginal and Torres Strait Islander
peoples as the First Peoples of this nation and the Traditional Custodians of
the land where we live, learn and work. We pay our respects to Elders past and
present as it is their knowledge and experience that holds the key to the
success of future generations.

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