Heritage Bank Discount Variable Home Loan
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 loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 80% | $150,000 | |
| | Owner Occupier | Principal & Interest | 80%-90% | $150,000 | |
| | Owner Occupier | Principal & Interest | 90%-95% | $150,000 | |
| | Investor | Principal & Interest | < 80% | $150,000 | |
| | Investor | Principal & Interest | 80%-90% | $150,000 | |
| | Investor | Interest Only | < 80% | $150,000 | |
| | Investor | Interest Only | 80%-90% | $150,000 |
-
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
Heritage Bank Discount Variable Home Loan
3.84% p.a.
3.89% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
3.84% p.a.
3.89% p.a.
$0.00
3.84% p.a.
3.89% p.a.
$0.00
3.94% p.a.
3.99% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
3.94% p.a.
3.99% p.a.
$0.00
3.94% p.a.
3.99% p.a.
$0.00
4.24% p.a.
4.29% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
4.24% p.a.
4.29% p.a.
$0.00
4.24% p.a.
4.29% p.a.
$0.00
4.44% p.a.
4.49% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
4.44% p.a.
4.49% p.a.
$0.00
4.44% p.a.
4.49% p.a.
$0.00
4.54% p.a.
4.59% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
4.54% p.a.
4.59% p.a.
$0.00
4.54% p.a.
4.59% p.a.
$0.00
4.74% p.a.
4.79% p.a.
$0.00
Heritage Bank Discount Variable Home Loan
4.74% p.a.
4.79% p.a.
$0.00
4.74% p.a.
4.79% p.a.
$0.00
Mozo Review Heritage Bank Discount Variable Home Loan Review
Last updated: 2 July 2018.
What's hot:
Unlimited extra repayments and redraws
3.74% p.a. variable rate (for owner occupier loans)
$0 ongoing fees
What's not:
$20 redraw fee
Mozo snapshot:
With a low 3.74% variable rate (3.79% 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 of 3.74% p.a, you'll need to 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 3.74%, borrowing less than 90% of the value and you'll score a rate of 3.84% and finally, if you're borrowing 90%-95% of the property value, you're rate will be 3.94%.
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 17 August 2018.
Rates
-
3.74% p.a.
-
n/a
-
0 Months
-
none
-
3.79% 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
-
none
-
$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 - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
3.84% p.a.
-
n/a
-
0 Months
-
none
-
3.89% 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
-
none
-
$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 - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
3.94% p.a.
-
n/a
-
0 Months
-
none
-
3.99% 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
-
none
-
$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 - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
4.24% p.a.
-
n/a
-
0 Months
-
none
-
4.29% 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
-
none
-
$0.00
-
$250.00
Other financial bits
-
$150,000
-
none
-
none
-
80.00%
Features
-
Investor
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
no
-
yes - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
4.44% p.a.
-
n/a
-
0 Months
-
none
-
4.49% 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
-
none
-
$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 - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
4.54% p.a.
-
n/a
-
0 Months
-
none
-
4.59% 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
-
none
-
$0.00
-
$250.00
Other financial bits
-
$150,000
-
none
-
none
-
80.00%
Features
-
Investor
-
Interest Only
-
Weekly, Fortnightly, Monthly
-
yes - free
-
no
-
yes - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Details
Rates and fees information correct as at 17 August 2018.
Rates
-
4.74% p.a.
-
n/a
-
0 Months
-
none
-
4.79% 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
-
none
-
$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 - fees apply
-
$0.00
-
yes
-
no
-
$20 redraw fee
-
none
Customer Reviews
How are Heritage Bank home loans rated by the Mozo community?
Latest reviews of Heritage Bank Discount Variable Home Loan
- Overall9/10
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.
Price10/10Features-Customer service-Convenience-Trust-Less
Andrew | QLD
05 Jul 2017
- Overall10/10
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.
Price5/10Features0/10Customer service10/10Convenience9/10Trust10/10Less
Roseanne | QLD
14 Jul 2015
- Overall9/10
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.
Price7/10Features7/10Customer service9/10Convenience7/10Trust9/10Less
Jacqueline | WA
07 Apr 2015
- Overall7/10
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.
Price7/10Features7/10Customer service10/10Convenience8/10Trust10/10Less
Do | NSW
15 Aug 2014
- Overall10/10
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'!
Price10/10Features10/10Customer service10/10Convenience10/10Trust10/10Less
Sharon | QLD
23 Apr 2014
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.
