Heritage Bank Advantage Package Fixed Home Loan

The Heritage Bank Advantage Package Fixed Home Loan offers competitive fixed rates and multiple package benefits in exchange for an annual fee.

The Heritage Bank Advantage Package Fixed Home Loan allows you to bundle a credit card with your mortgage while avoiding multiple fees. You also have discounts available on insurance products under the package in exchange for a single annual package fee.

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Richard Whitten is a senior writer at Finder, and has been covering home loans and the property market in Australia for the last 4 years. He has written for Yahoo Finance, Money Magazine and Homely, as well as multiple banks and lenders. Richard has a Certificate IV in Finance and Mortgage Broking, a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communication. He enjoys helping people understand the ins and outs of mortgages so they can make smarter property decisions. Richard trained as a high school teacher but found it easier to manage personal finances than a classroom full of kids. Before joining Finder, he edited textbooks and taught English in South Korea.

Expert review

The Heritage Bank Advantage Package Fixed Home Loan can be used by both investors and owner occupiers. It is a package loan that offers discounts on insurance policies and a $0 annual fee credit card (in exchange for an annual package fee).

If you make use of the other parts of the package then this could be a good deal. Investors get extra flexibility with the option to make interest only repayments.

About this loan

What are the features and benefits of the Heritage Bank Advantage Package Fixed Home Loan?

  • Option to make additional repayments. With the Heritage Bank Advantage Package Fixed Home Loan, you can make additional repayments without having to pay penalties, which can help you pay off your loan sooner and save more.
  • Flexible repayment frequency. You can repay your loan either weekly, fortnightly or monthly payments whichever one fits into your salary schedule.
  • Redraw facility. You can redraw any extra funds you have paid into your home loan through the fee free redraw facility online through your internet banking.
  • Interest only option. With this home loan you can opt for interest only repayments if you are an investor. Owner occupiers must make principal and interest repayments.
  • Package benefits. As part of the Advantage Package, you have multiple fees such as the application and monthly fees waived on your home loan in place of the $350 annual package fee. You will also receive discounts on other products from Heritage Bank including insurance and a credit card with $0 annual credit card fees.

What fees and charges come with this loan?

  • There is no application fee charged with this package but there is an annual package fee of $350.

How to apply

If you are interested in applying for a Heritage Bank Advantage Package Fixed Home Loan, please click the 'Go to site' or 'Enquire' button on this page to contact Heritage Bank directly or a mortgage broker. Here are some of the things you will be asked about before getting approved for the loan:

  • Good credit history. Your creditworthiness will be assessed by Heritage Bank.
  • Age requirement. To be approved for the above loan, you must be at least 18 years of age.
  • Driver's licence. This is required as proof of your permanent residency within Australia.
  • Proof of income. The bank will require proof of your income to determine whether you can afford the repayments on the loan.

If you are looking to avoid a long term home loan and want a flexible loan that you can pay off quickly you might want to take a look at the Heritage Bank Advantage Package Fixed Home Loan. Add it to your comparison today.

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