Bendigo and Adelaide Bank will waive unpaid penalty interest on overdue amounts from loans to investors in managed investment schemes operated by Great Southern. The bank on Wednesday reached the outline of a settlement for class actions brought by investors in the schemes operated by Great Southern. The plantation company had managed loan originations to investors in these schemes, under delegations from the old Adelaide Bank."Under the agreement, the bank's borrowers, who are members of the class actions, have admitted that their loans are valid and enforceable and have provided broad releases from future litigation," Bendigo said.  "The principal and ordinary accrued interest remains payable by borrowers," it said."However, the Bank has agreed to waive unpaid interest relating to overdue amounts, being the interest (additional to ordinary interest) that is payable by borrowers in default."Bendigo said this waiver "will not result in any adjustment to the accounts of the bank as unpaid interest relating to overdue amounts has not previously been recognised as revenue."