The bank's home loan interest rate will rise to 9.45 per cent and will take effect from May 6.

The 10-basis point increase means the minimum repayment amount for home loans will rise dependant on the size and term of the loan.

For a loan of $150,000 over 30 years, the increase in repayments, taking into account the most recent interest rate rise, will be $11 per month.

Bendigo Bank, excluding Adelaide Bank home loan borrowers, has about 62,500 home loan borrowers.

The bank said the interest rise followed a continuing escalation in the bank's wholesale and retail funding costs.

Bank spokesman Owen Davies said that while any increase was regrettable, the bank had sought to soften the impact of funding increases on its customers.

"We continue to absorb some of our increased funding costs," Mr Davies said.

"We recognise that rate rises are starting to squeeze household budgets and are therefore sharing the impact of the difficult funding environment."

Mr Davies said Bendigo Bank was aware rising interest rates was putting pressure on some household budgets.

"We encourage customers to talk to their branch manager if they are finding it difficult to make repayments," he said.

"There is also the option to contact our Mortgage Help Centre, which has helped many borrowers over the years who have experienced difficulties." he said.

Bendigo Bank has raised interest rates six times since last August.