Heritage Bank Personal Loans

Rates and fees last updated on

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

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.

Rates last updated June 25th, 2017
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Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
Heritage Bank Standard Personal Loan
A flexible loan you can use for a variety of reasons while also being able to make extra or lump sum payments.
From 12.99% (fixed) 15.45% $5,000 1 to 10 years $200 More
Heritage Bank Low Rate Secured Loan
Borrow up to the value of your Heritage Bank Term deposit at a low rate.
From 5.14% (variable) 7.61% $5,000 1 to 10 years $200 More
Heritage Bank Car Loan
Purchase or refinance a new or used vehicle up to five years old.
From 8.99% (fixed) 9.62% $5,000 1 to 7 years $200
Rates last updated June 25th, 2017
$
Interest Rate (p.a.) Comparison Rate (p.a.) Min Loan Amount Loan Term Application Fee Monthly Repayment
Citi Personal Loan Plus
Borrow up to $75,000. All approved applicants will receive the advertised variable rate of 11.99% p.a.
From 11.99% (variable) 12.77% $5,000 3 to 5 years $199 (monthly fees waived in the first year) Go to site More
RateSetter 2-Year Personal Loan
This peer-to-peer loan is only available for a 2-year term at the rate of 4.69% p.a.
From 4.69% (fixed) 7.11% $2,001 2 to 2 years $0 (Upfront fee $250 for loan terms of 2 years and above) Go to site More
RateSetter Personal Loan
Ratesetter allow you to get a personalised rate based on your credit score.
From 8.46% (fixed) 8.97% $2,001 0.5 to 5 years $0 (Upfront fee $250 for loan terms of 2 years and above) Go to site More
CUA Discount Fixed Personal Loan (Loans over $30,000)
Take advantage of a competitive fixed rate and no monthly fees when you borrow over $30,000
From 10.99% (fixed) 10.99% $30,000 1 to 7 years $0 Go to site More
MyState Unsecured Personal Loan
Apply for up to $50,000 and make additional repayments without penalty.
From 12.99% (variable) 16.42% $3,000 1 to 7 years $200 Go to site More
Latitude Personal Loans (Unsecured)
An unsecured loan designed for multiple purposes – renovating, buying a car or travelling. Funds can be in your count in as little as 24 hours.
From 13.99% (fixed) 15.2% $3,000 2 to 7 years $250 (Loans under $4000 - $140) Go to site More
QT Mutual Bank Personal Loan
You can use this personal loan to buy just about anything: a new boat, home renovations, a holiday or even to consolidate existing debt. Only available to Queenslanders
From 12.95% (variable) 13.54% $3,000 5 years $395 (establishment fee) Go to site More
SocietyOne Unsecured Personal Loan
Interest rates for a 3 year loan range from 7.88% p.a. to 25.49% p.a. Comparison rate from 9.9% p.a. to 26.74% p.a. for good credit scores A and AA
From 7.88% (fixed) 9.9% $5,000 2 to 5 years 3% (of loan amount) Go to site More
CUA Discount Variable Personal Loan (Loans over $30,000)
Apply for a loan over $30,000 and enjoy a discounted interest rate
From 10.89% (variable) 10.89% $30,000 1 to 7 years $0 Go to site More
St.George Get Set Loan Personal Loan
A revolving line of credit that lets you access your funds as and when you need to.
From 17% (variable) $5,000 $150 Go to site More

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 12.99% p.a. and can also be secured or unsecured. A generous maximum loan term of 10 years is available, with one 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 8.99% p.a. Loan amounts of between $5,000 and $100,000 are available and you can take out the loan for between one and seven 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 5.99% p.a. The loan is available for terms of between one and ten years and you can borrow up to $100,000. You can make additional repayments and pay the loan back in full without penalty.
  • Debt Consolidation. If you want to pay down your existing debt without paying ongoing monthly fees, this loan is an option for you. It comes with a variable rate of 14.65% p.a. and you can consolidate debts between $5,000 and $100,000. Additional and lump sum payments are allowed and you won’t be penalised for repaying the loan in full before the end of the term.

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 and the Standard Personal Loan you can have up to ten years to repay.
  • High maximum loan amounts. Three out of the four loan offerings let you borrow up to $100,000, and with the Standard Personal Loan you can borrow up to $25,000.
  • 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 $105 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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This page was last modified on 12 February 2016 at 5:29am.

RateSetter Personal Loan

Ratesetter allow you to get a personalised rate based on your credit score.

Citi Personal Loan Plus

Borrow up to $75,000. All approved applicants will receive the advertised variable rate of 11.99% p.a.

CUA Discount Variable Personal Loan (Loans over $30,000)

Apply for a loan over $30,000 and enjoy a discounted interest rate

MyState Unsecured Personal Loan

Apply for up to $50,000 and make additional repayments without penalty.

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