Back to FAQs

What does it mean to be bank backed?

Is Tiimely Home a bank?

No, we’re not a bank. But we’re bank-backed.

So what does it mean to be bank-backed?

Tiimely Home has the backing of Bendigo and Adelaide Bank, and they help us out in a few ways, like funding our home loans, providing our offset accounts and importantly, giving our customers the protections a bank has in the unlikely event something goes bad. Read more on the Financial Claims Scheme (FCS) and why it’s important our offset accounts are covered under the FCS.

More than that, we have an agreement with them to fund our Tiimely Own home loans. This means when you get a Tiimely Own home loan, any funds we loan you come from the Bank. Because our tech is so efficient at assessing customers for a home loan, we get market-leading pricing on those funds, which means we can offer customers bank-grade products but with really low rates and no fees. It’s a no-brainer.

Us and the bank? We go way back. As an initial funder in our early days, Bendigo and Adelaide Bank continue to be an important shareholder, too. They’re invested in our future.

All of this means you’re still a Tiimely Home customer, though.

What’s in it for Tiimely Home?

Partnering with a bank enables us to:

  • reduce our overhead costs and offer lower interest rates
  • focus on being a tech company to innovate in the home loans industry
  • combine the best features of a bank (like offering a real offset account) with the best features of a Fintech (like applying 100% online).

Found in:

  • Tiimely home

Found in:

Legal things about our rates
Our home loans are subject to credit criteria and eligibility requirements. Home loan interest rates are for new customers only and can change. Our comparison rates are based on a $150,000 loan amount over a 25 year term. They factor in fees associated with applying for the loan; ongoing fees and fees associated with leaving the loan. Our fixed loans roll to a variable principal and interest rate at the end of the fixed term. If the interest only period is not specified, the comparison rate is calculated on a one year period.

WARNING: The comparison rates are true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Tiimely Turnaround
^Our turnaround times are up to 2x faster than the industry, based on a comparison of our average platform submit to approval time compared to industry submit to approval time, published here  (June 2023). Customer turnaround times are dependent on individual circumstances and may require an assessor to obtain more information.

Our trade mark
Tiimely is a registered trademark of Tiimely Pty Ltd.