Heritage Bank Standard Variable Home Loan

The Heritage Bank Standard Variable Home Loan offers few restrictions and allows you to repay your mortgage in the medium term.

With a Heritage Bank Standard Variable Home Loan, you get to enjoy flexible repayments with no penalties for additional payments, plus many more features you can take advantage of. Like other variable rate home loans, this loan gives you the convenience of an offset account, helping you to minimise the interest you pay.

Heritage Bank also offers other home loans tailored to different borrowers such as the fixed rate home loan, basic variable home loan and professional package loan that allows you to bundle a credit card and bank account with your mortgage.

Interest Rate Max Insured LVR Max LVR
(Investor) Existing customers only
5.69% p.a.
Comparison Rate
5.83% p.a.
80% 80%
(Investors) New Customers Only
5.69% p.a.
Comparison Rate
5.79% p.a.
80% 80%
(Owner Occupier, P&I) New Customers Only
5.14% p.a.
Comparison Rate
5.25% p.a.
95% 80%
Product NameHeritage Bank Standard Variable Home Loan
Interest Rate TypeVariable
Comp Rate^ (p.a.)
Minimum Loan Amount$20,000
Minimum Loan Term1 year
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityNo
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$0
Lender's Legal Fee$0
Valuation Fee$0
Ongoing Fees$8 monthly ($96 p.a.)
Settlement Fee$150
Discharge Fee$250


  • No legal fee, valuation fee, settlement fee and discharge fee.
  • You can make extra payments at any time and withdraw the funds using the free redraw facility.


  • There is $8 per month account fee.

Things to consider about the Heritage Bank Standard Variable Home Loan.

The Heritage Bank Standard Variable Home Loan can be a great way to finance the purchase of a home. If you are planning to sell your home in the short term, a variable rate home loan could suit you more due to the flexibility it offers.

However, you should be aware that your monthly repayments may change as the interest rates fluctuate, so you may want to talk to a mortgage broker about your suitability for a variable home loan. It helps to calculate how much you can afford before taking up a home loan so that you do not strain yourself financially.

Features of the Heritage Bank Standard Variable Home Loan

  • 100% Offset account. The Heritage Bank Standard Variable Home Loan is designed to help you pay off your loan sooner by offering an offset account facility that acts like a savings account, with the money in that account used to offset your loan balance and thus reduce what you pay in interest. The offset account allows for a 100% offset that could save you a significant amount over the life of your home loan.
  • Option to make additional repayments. This feature allows you to save on interest charges by making extra payments above your minimum monthly payments. With the Heritage Bank Standard Variable 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. The Heritage Bank Standard Variable Home Loan gives you real flexibility on how you can repay your loan, so you can fit your repayments to your income. Options available include making weekly, fortnightly or monthly payments.
  • Repayment holiday. If you are unable to make a repayment, you can opt to skip a repayment with no penalties as long as you have made previous additional repayments.


  • Application fee. $0. The Heritage Bank Standard Variable Home Loan carries an application fee of $600 to cover the costs of setting up the loan.
  • Monthly fees. $8 per month. You will be charged a monthly fee of $5 to cover the administration and servicing of your mortgage.

Find out what your repayments will be in a few seconds

How to apply for the Heritage Bank Standard Variable Home Loan

If you are interested in applying for a Heritage Bank Standard Variable home loan, please speak to your local mortgage broker. Here are the eligibility requirements for 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.

The following documentary evidence will also be required:

    • 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 or that you can exit without paying heavy fees, you might want to take a look at the Heritage Bank Standard Variable Home Loan. Add it to your comparison today.

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Heritage Bank Standard Variable Home Loan

  • Interest Rate


  • Comparison Rate


  • App Fee / Annual Service Fee

    $0 / $8

  • Max LVR


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