Heritage Bank Discount Variable Home Loan

This product is available in different versions. Pick the right version for you here.

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $150,000 with an LVR below 95%

The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $150,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan of at least $150,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

    Loan: $150,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $150,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $150,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $150,000

3.32% p.a.

3.37% p.a.

$0.00

Go to site

Heritage Bank Discount Variable Home Loan

Go to site

3.32% p.a.

3.37% p.a.

$0.00

Go to site
Mozo Review
Details
Customer Reviews
Similar loans

3.42% p.a.

3.47% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

3.42% p.a.

3.47% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans

3.52% p.a.

3.57% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

3.52% p.a.

3.57% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans

3.67% p.a.

3.72% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

3.67% p.a.

3.72% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans

3.77% p.a.

3.82% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

3.77% p.a.

3.82% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans

3.97% p.a.

4.02% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

3.97% p.a.

4.02% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans

4.07% p.a.

4.12% p.a.

$0.00

Heritage Bank Discount Variable Home Loan

Go to site

4.07% p.a.

4.12% p.a.

$0.00

Mozo Review
Details
Customer Reviews
Similar loans
Mozo Review
Details
Customer Reviews
Similar loans

Mozo Review   Heritage Bank Discount Variable Home Loan Review

Last updated: 6 August 2019.

What's hot:

  • Unlimited extra repayments and redraws

  • 3.32% p.a. variable rate (3.37% comparison rate*) for owner occupier loans

  • $0 ongoing fees

What's not:

  • $20 redraw fee

Mozo snapshot:

With a low 3.32% variable rate (3.37% comparison rate*) and no ongoing fees, the Bank Discount Special Rate Home Loan from Heritage Bank delivers great value for owner occupiers. The loan is available for LVRs up to 95% but to get the rate, you'll need to have at least a 20% deposit and borrow at least $150,000.

Key features:

The Heritage Bank Discount Special Rate Loan comes with different rate tiers depending on your LVR. If you're borrowing less than 80% of the property's value, your rate will be a low 3.32% (3.37% comparison rate*), borrowing less than 90% of the value and you'll score a rate of 3.42% (3.47% comparison rate*) and finally, if you're borrowing 90%-95% of the property value, you're rate will be 3.52% (3.57% comparison rate*).

You don't have to stress about repayment timings, Heritage Bank gives you the option of choosing the repayment frequency that best suits you. Options include weekly, fortnight or monthly repayments. 

There's no offset account on offer but you can make extra repayments at anytime for free which will help you to reduce the time it takes to pay off your loan and save on interest. The loan also has unlimited redraws so if you need to you can access those funds later down the track. And with no ongoing fees, all of your repayments will go towards paying back your loan not expensive bank fees. 

Who it's good for:

People who want a loan with flexibility and great value, particularly those with a 20% or more deposit. Why pay more in interest than you absolutely need to?

Any catches?

While the loan is available for up to a 95% LVR, just be mindful that for loans over 80% loan-to-value-ratio, you'll get a steeper interest rate and be required to pay Lenders Mortgage Insurance. This insurance isn't unique to Heritage Bank, it applies to all loans with LVRs more than 80%.  

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.32% p.a.

  • n/a

  • n/a

  • n/a

  • 3.37% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.42% p.a.

  • n/a

  • n/a

  • n/a

  • 3.47% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.52% p.a.

  • n/a

  • n/a

  • n/a

  • 3.57% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • 90.00%

  • 95.00%

Features

  • Owner Occupier

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.67% p.a.

  • n/a

  • n/a

  • n/a

  • 3.72% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.77% p.a.

  • n/a

  • n/a

  • n/a

  • 3.82% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Investor

  • Principal & Interest

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 3.97% p.a.

  • n/a

  • n/a

  • n/a

  • 4.02% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • none

  • 80.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 22 August 2019. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

  • 4.07% p.a.

  • n/a

  • n/a

  • n/a

  • 4.12% p.a.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

Fees

  • $600.00

  • $0.00

  • $0.00

  • $150.00

  • n/a

  • $0.00

  • $250.00

Other financial bits

  • $150,000

  • none

  • 80.00%

  • 90.00%

Features

  • Investor

  • Interest Only

  • Weekly, Fortnightly, Monthly

  • yes - free

  • no

  • yes - free

  • $0.00

  • yes

  • no

  • none

  • none

  • none

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are Heritage Bank home loans rated by the Mozo community?

Overall customer rating
8.3/10

Based on 244 Heritage Bank home loan reviews

Price
8.1/10
Features
7.6/10
Customer service
8.6/10
Convenience
8.0/10
Trust
8.5/10

Latest reviews of Heritage Bank Discount Variable Home Loan

  • Overall
    9/10
    Competitive rates. Basic internet banking

    Heritage Bank have very competitive pricing and interest rates. They do lack in terms of their...

    Read full review

    Heritage Bank have very competitive pricing and interest rates. They do lack in terms of their internet banking features. At this stage they do not have online redraw.

    Price
    10/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -

    Less

    Andrew | Queensland

    reviewed about 2 years ago

  • Overall
    10/10
    My bank is a pleasure to do business with

    I find a good service provided by Heritage Bank, I am always promptly put in contact with the...

    Read full review

    I find a good service provided by Heritage Bank, I am always promptly put in contact with the department I am phoning. The employees are extremely helpful and always cheerful. I just wish the interest rate was as low as other banks concerning my Home Loan.

    Price
    5/10
    Features
    0/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10

    Less

    Roseanne | Queensland

    reviewed about 4 years ago

  • Overall
    9/10
    Heritage has got everything a girl could want

    My broker set up my loan so I had almost nothing to do with the bank. Any of my subsequent...

    Read full review

    My broker set up my loan so I had almost nothing to do with the bank. Any of my subsequent queries and transactions have been very easy. Staff are very helpful and polite. The app on my smartphone makes electronic banking easy. As far as my home loan goes, banking is completely virtual. That's the way I prefer it. No people, no queues, priceless.

    Price
    7/10
    Features
    7/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    9/10

    Less

    Jacqueline | Western Australia

    reviewed over 4 years ago

  • Overall
    7/10
    Customer service

    I like that when you call you get to speak with a Australian and you don't get hassled about new...

    Read full review

    I like that when you call you get to speak with a Australian and you don't get hassled about new products.

    Price
    7/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10

    Less

    Do | New South Wales

    reviewed about 5 years ago

  • Overall
    10/10
    Awesome service & best interest rates in Qld

    Heritage smashed our interest rates, Taking a whopping load off our plates! They've saved us...

    Read full review

    Heritage smashed our interest rates, Taking a whopping load off our plates! They've saved us thousands per year, This alone makes us shed a happy tear! There is NO hidden catches or fees, And Customer Service is a pleasant breeze! Always a smile - NEVER a frown, So if you want to bring your mortgage down.. Heritage may not be one of the 'Big 4', But they've certainly opened the 'Competitive Door'!

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Less

    Sharon | Queensland

    reviewed over 5 years ago

Heritage Bank

About Heritage Bank

Heritage is Australia's largest member-owned bank. With a history going back to 1875, Heritage helps Australians realise their financial dreams. Heritage focuses on putting people first, not pursuing massive profits. They offer customers a full range of competitive personal banking products from home loans, saving accounts, term deposits, credit cards and much more.

See Heritage Bank home loans

Promoted

Heritage Bank

Heritage Bank

Variable Rate Loan (Home Advantage)

3.42% p.a.

3.80% p.a.

$350.00 yearly

Go to site

Promoted

Heritage Bank

Heritage Bank

Fixed Rate Loan (Home Advantage)

p.a.

3.74% p.a.

$350.00 yearly

Go to site

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.03% p.a. variable

3.05% p.a.

$520

Go to site

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a. variable

3.05% p.a.

$0

Go to site

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a. variable

3.09% p.a.

$0

Go to site

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a. variable

3.42% p.a.

$0

Go to site

Promoted

ME

ME

Flexible Home Loan (Member Package)

3.39% p.a. variable

3.83% p.a.

$200

Go to site

Promoted

Suncorp

Suncorp

Back to Basics

3.29% p.a. variable

3.30% p.a.

$0

Go to site

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a. variable

3.28% p.a.

$150

Go to site

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a. variable

3.02% p.a.

$596

Go to site

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.03% p.a.

3.05% p.a.

$520

Go to site

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0

Go to site

Promoted

ANZ

ANZ

Simplicity PLUS

3.38% p.a.

3.42% p.a.

$0

Go to site

Promoted

Well Home Loans

Well Home Loans

Well Balanced

2.97% p.a.

2.99% p.a.

$785

Go to site

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0

Go to site

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$596

Go to site

Promoted

Bank of Queensland

Bank of Queensland

2 Year Intro Rate Variable Home Loan

3.39% p.a.variable for 24 months and then 3.86% p.a.

3.91% p.a.

$150

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a.

3.28% p.a.

$150

Go to site

Promoted

Bank of Queensland

Bank of Queensland

Fixed Rate

2.99% p.a.
fixed 3 years

4.09% p.a.

$450

Promoted

UBank

UBank

UHomeLoan (Fixed)

2.99% p.a.
fixed 3 years

3.45% p.a.

$395

Go to site

Promoted

IMB Bank

IMB Bank

Fixed Home Loan

2.99% p.a.
fixed 3 years

3.51% p.a.

$799

Promoted

Well Home Loans

Well Home Loans

Well Balanced Fixed

2.99% p.a.
fixed 3 years

3.11% p.a.

$785

Go to site

Promoted

loans.com.au

loans.com.au

Fixed Home Loan

3.19% p.a.
fixed 3 years

3.43% p.a.

$520

Go to site

Promoted

Newcastle Permanent

Newcastle Permanent

Fixed Rate Home Loan (Premium Plus Package)

3.24% p.a.
fixed 3 years

4.15% p.a.

$0

Go to site

Promoted

Tic:Toc

Tic:Toc

Fixed Home Loan

n/a

n/a

$0

Go to site

Promoted

UBank

UBank

UHomeLoan (1 Year Fixed)

n/a

n/a

$395

Go to site

Promoted

loans.com.au

loans.com.au

Smart Home Loan

3.03% p.a.

3.05% p.a.

$0.00

Go to site

Promoted

Athena

Athena

Variable Home Loan

3.09% p.a.

3.05% p.a.

$0.00

Go to site

Promoted

UBank

UBank

UHomeLoan - Discount Offer

3.09% p.a.

3.09% p.a.

$0.00

Go to site

Promoted

Suncorp

Suncorp

Back to Basics

3.29% p.a.

3.30% p.a.

$0.00

Go to site

Promoted

HSBC

HSBC

Home Value Loan

3.27% p.a.

3.28% p.a.

$0.00

Go to site

Promoted

Homestar

Homestar

Star Essentials Home Loan

2.99% p.a.

3.02% p.a.

$0.00

Go to site

Promoted

Well Home Loans

Well Home Loans

Well Balanced

2.97% p.a.

2.99% p.a.

$0.00

Go to site

Promoted

IMB Bank

IMB Bank

Budget Home Loan

3.31% p.a.

3.37% p.a.

$0.00

*WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Compare other home loans