Heritage Bank personal loans

Find out the benefits of taking out a personal loan with Australia’s largest customer-owned bank.

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Heritage Bank is the largest financial institution operating in the “customer-owned” banking space. It began operations in 1875 as Toowoomba Permanent Building Society, and today you’ll find a full service and product offering – personal loans, credit cards, home loans, super, and even business products such as term deposits and agribusiness. Find out more about its personal loan offerings below.

Compare Heritage Bank Personal Loans

Updated October 18th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
10.99% (fixed)
11.62%
$5,000
1 to 5 years
$200
$5
You can choose a fixed or variable rate
Benefit from flexibility with the choice between a fixed or variable rate. Borrow more when you attach security to the loan.
From 4.69% (variable)
7.16%
$5,000
1 to 10 years
$200
$5
You'll receive a variable rate of 4.69% p.a.
Borrow up to the value of your Heritage Bank term deposit with this unique secured personal loan. Loans up to $100,000 available.

Compare up to 4 providers

Updated October 18th, 2019
$
Name Product Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Service Fee Monthly Repayment
From 6.99% (fixed)
7.62%
$5,000
1 to 7 years
$200
$5
You'll receive a fixed rate of 6.99% p.a.
Finance a new or used car up to 5 years old. Large maximum borrowing amount up to $100,000 and terms up to 7 years.

Compare up to 4 providers

Types of personal loans available from Heritage Bank

Depending on your needs and what you’re looking to finance, you have four options to choose from if you’re looking to finance with Heritage Bank:

  • Standard Personal Loan. This loan offers a choice of a variable or fixed rate of 10.99% p.a. and can also be secured or unsecured. A maximum loan term of 5 years is available, with 1 year being the minimum. You can make additional payments and a redraw facility is available, but early repayment of the loan may carry a penalty.
  • Car Loan. You can finance a new or used car with this loan for a competitive fixed rate of 6.99% p.a. Loan amounts of between $5,000 and $100,000 are available and you can take out the loan for between 1 to 7 years. You can make extra repayments and access them using the redraw facility, but early repayment of the loan may carry a penalty.
  • Low Rate Secured Loan. Have a Heritage term deposit? You can secure it against this loan and get a low variable rate of 4.69% p.a. The loan is available for terms of between 1 to 10 years and you can borrow up to $100,000. You can make additional repayments and pay the loan back in full without penalty.

Features and benefits of Heritage Bank personal loans

  • Generous loan terms. Typically, personal loan terms extend to seven years, but with the Low rate Secured Loan you can have up to 10 years to repay.
  • High maximum loan amounts. You can borrow up to $100,000 for Low Rate Secured Loan and Car Loan, and with the Standard Personal Loan you can borrow up to $50,000.
  • Save on interest. You can make additional repayments with each loan, helping you reduce the interest you pay. You can repay two of the loans – the Car Loan and Debt Consolidation loan – completely without penalty and you can secure your personal loan with a term deposit for a lower rate.
  • No ongoing fees. While each of the loans come with a $200 application fee, you will not pay any ongoing monthly fees with these loans. This helps you keep your ongoing costs down.

What other products are on offer?

You can also find a range of other products available from Heritage Bank. These include:

  • Home loans. There is a Discount Variable, Standard Variable or Fixed Rate loan available to help you buy a new home, refinance or even invest.
  • Credit cards. Choose from a Platinum, Classic, Gold Low Rate, Freedom Visa and a Visa Debit Card.
  • Insurance. Heritage Bank offers insurance for travel, your car, home building and contents, landlord insurance, caravan and trailer and also life insurance products to meet your needs.
  • Superannuation. You can apply for the Secure Super account with a return permanently set at 0.5% above the RBA cash rate.
  • Business accounts and loans. Get on top of your business’ cash flow with a Business Cheque Account, Business Visa credit card, an Overdraft, Line of Credit, Fully Drawn Loan or Motor Vehicle Equipment Loan for new and used vehicles.

How you can apply for a Heritage Bank personal loan

If you’re interested in applying for a Heritage Bank personal loan, click ‘Go to Site’ to get your application started. Specific eligibility criteria will depend on the loan you apply for, but for all Heritage Bank personal loans:

  • You need to be over the age of 18
  • You must be a permanent Australian resident
  • More than half the loan needs to be for personal use

The online application will require you to have a few details on hand to complete it:

  • Personal details like your name and contact information
  • Details of your income, assets and debts
  • Your employment information
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Personal Loan Offers

Important Information*
Logo for Citi Personal Loan Plus
Citi Personal Loan Plus

You'll receive a variable rate between 9.99% p.a. and 17.99% p.a. (9.99% p.a. to 17.99% p.a. comparison rate) based on your risk profile
A credit limit up to $75,000 that you can continue to draw down over terms up to 5 years. Note: No establishment fee and no monthly account service fees apply if you apply and are approved before 31 March 2020.

Logo for RateSetter Unsecured Personal Loan - 3yr Variable
RateSetter Unsecured Personal Loan - 3yr Variable

You'll receive a variable rate between p.a. and 16.40 p.a. based on your risk profile
A flexible loan with amounts from $2,001 and terms starting from 6 months. Interest and comparison rates calculated for a loan term of 3 years.

Logo for Harmoney Unsecured Personal Loan
Harmoney Unsecured Personal Loan

You'll receive a fixed rate between 6.99% p.a. and 28.69% p.a. based on your risk profile.
Apply for a loan up to $70,000 and repay your loan over 3 or 5 years terms.

Logo for NOW FINANCE Personal Loans
NOW FINANCE Personal Loans

You'll receive a fixed rate between 8.95% p.a. and 16.95% p.a. based on your risk profile
Apply for loans from $5,000 and get a dedicated loan manager. No security required.

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