The Heritage Bank Discount Special Rate Loan doesn't come with an offset account 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.
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.
Who it's good for:
People who want a loan with flexibility and great value. Why pay more in interest than you absolutely need to?
While the loan is available for up to a 90% LVR, just be mindful that for loans over 80% loan-to-value-ratio, you'll 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%.