{"menuItems":[{"label":"Compare Heritage Bank Personal Loans","anchorName":"#compare-heritage-bank-personal-loans"},{"label":"Types of personal loans available from Heritage Bank","anchorName":"#types-of-personal-loans-available-from-heritage-bank"},{"label":"Features and benefits of Heritage Bank personal loans","anchorName":"#features-and-benefits-of-heritage-bank-personal-loans"},{"label":"What other products are on offer?","anchorName":"#what-other-products-are-on-offer"},{"label":"How you can apply for a Heritage Bank personal loan","anchorName":"#how-you-can-apply-for-a-heritage-bank-personal-loan"}]}
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 now offers products such as personal loans, credit cards, home loans, super, and even business products such as term deposits and agribusiness. It offers two types of personal loans, a standard personal loan with a variable or fixed interest rate, and a car loan. Both loans are secured. The variable rate for the standard loan is 11.99% p.a., while the fixed rate is 8.99% p.a. With a variable rate loan, your repayments will fluctuate based on the market interest rate, while fixed rate loans have consistent repayments. The interest rate for the car loan is fixed at 6.69% p.a. The loan term for the personal loan is 1 to 7 years, while for the car loan it is 1 year to 7 years. An application fee of $250 applies.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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 rate or a fixed rate and can also be secured or unsecured. A maximum loan term of 7 years for a variable rate loan and 7 years for a fixed rate loan 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. Loan amounts of between $5,000 and $100,000 are available and you can take out the loan for between 1 year 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.
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 for a secured loan.
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 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 including your name and contact information
Elizabeth Barry is the lead editor for Finder. She has over 10 years' experience writing about a range of topics with a focus on personal finance. You’ll find her writing and commentary in a range of publications and media including Seven News, the ABC, MSN, the Irish Times and Singapore Business Review.
With the Heritage Bank Discount Variable Home Loan you can now enjoy competitive variable interest rates on your home loan with zero monthly administration fees and flexible repayment options.
Heritage Bank's Bridging Home Loan is designed for homeowners looking for a quick financing solution to buy a new home as they work on selling their current home.
Hi Jocelyn, We can’t provide personal advice, but your chances of being approved depend on things like your income relative to your expenses, and your job security. Your best bet is to contact Heritage directly.
While a personal loan can provide funds for many different purposes, you might also want to look at a construction home loan.
This type of finance is specifically designed for people who are building a house. You’ll want to confirm the construction terms your lender will offer, including how long you can build for using the loan and the process for drawing down and accessing funds.
For options, you can check and compare on our construction loan page. Simply click the Go to site icon once you’ve chosen a particular lender.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We are committed to our readers and stands by our editorial principles
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labeling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
We make money by featuring products on our site. Compensation received from the providers featured on our site can influence which products we write about as well as where and how products appear on our page, but the order or placement of these products does not influence our assessment or opinions of them, nor is it an endorsement or recommendation for them.
Products marked as 'Top Pick', 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan and read any disclosure documents (such as any Target Market Determination (TMD) and/or Product Disclosure Statement (PDS)) issued by the provider before making a decision.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.
Can I loan 10k I’m part time worker
Hi Jocelyn, We can’t provide personal advice, but your chances of being approved depend on things like your income relative to your expenses, and your job security. Your best bet is to contact Heritage directly.
Hi want a short term loan for building a house
Hi James,
While a personal loan can provide funds for many different purposes, you might also want to look at a construction home loan.
This type of finance is specifically designed for people who are building a house. You’ll want to confirm the construction terms your lender will offer, including how long you can build for using the loan and the process for drawing down and accessing funds.
For options, you can check and compare on our construction loan page. Simply click the Go to site icon once you’ve chosen a particular lender.
Regards,
Richard