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Heritage Bank Discount Variable Home Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $150,000 and $699,999 with an LVR below 70%

The details shown below are for an owner occupier taking out a principal & interest loan of at least $700,000 with an LVR below 70%

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 95%

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 investor taking out a principal & interest loan between $150,000 and $699,999 with an LVR below 70%

The details shown below are for an investor taking out a principal & interest loan of at least $700,000 with an LVR below 70%

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $699,999 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $700,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $150,000 and $699,999 with an LVR below 90%

The details shown below are for an investor taking out a principal & interest loan of at least $700,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan between $150,000 and $699,999 with an LVR below 70%

The details shown below are for an investor taking out a interest only loan of at least $700,000 with an LVR below 70%

The details shown below are for an investor taking out a interest only loan between $150,000 and $699,999 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan of at least $700,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $150,000 and $699,999 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $700,000 with an LVR below 90%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $150,000 $699,999

  • Owner Occupier (Principal & Interest)

    LVR < 70%

    Loan: $700,000

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

    Loan: $150,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000

  • Investor (Principal & Interest)

    LVR < 70%

    Loan: $150,000 $699,999

  • Investor (Principal & Interest)

    LVR < 70%

    Loan: $700,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $150,000 $699,999

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $700,000

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $150,000 $699,999

  • Investor (Principal & Interest)

    LVR 80%-90%

    Loan: $700,000

  • Investor (Interest Only)

    LVR < 70%

    Loan: $150,000 $699,999

  • Investor (Interest Only)

    LVR < 70%

    Loan: $700,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $150,000 $699,999

  • Investor (Interest Only)

    LVR < 80%

    Loan: $700,000

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $150,000 $699,999

  • Investor (Interest Only)

    LVR 80%-90%

    Loan: $700,000

Rate
2.24% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$750
Go to site
Rate
2.19% p.a.
Comparison Rate
2.24% p.a.
Service fee
$0.00
Upfront fee
$750
Go to site
Rate
2.24% p.a.
Comparison Rate
2.29% p.a.
Service fee
$0.00
Upfront fee
$750
Go to site
Rate
3.09% p.a.
Comparison Rate
3.14% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.44% p.a.
Comparison Rate
2.49% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.49% p.a.
Comparison Rate
2.53% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.44% p.a.
Comparison Rate
2.49% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.49% p.a.
Comparison Rate
2.53% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.44% p.a.
Comparison Rate
2.49% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.69% p.a.
Comparison Rate
2.74% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.64% p.a.
Comparison Rate
2.69% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.79% p.a.
Comparison Rate
2.84% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.74% p.a.
Comparison Rate
2.79% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.79% p.a.
Comparison Rate
2.84% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.74% p.a.
Comparison Rate
2.79% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.99% p.a.
Comparison Rate
3.04% p.a.
Service fee
$0.00
Upfront fee
$750
Rate
2.94% p.a.
Comparison Rate
2.99% p.a.
Service fee
$0.00
Upfront fee
$750

Mozo editorial review Heritage Bank Discount Variable Home Loan - last updated: 24 November 2021

3.5 / 5
binocular icon
What's hot
  • Unlimited extra repayments and redraws
  • 2.24% p.a. variable rate (2.29% comparison rate*) for owner occupier loans
  • $0 ongoing fees
What's not
  • $20 redraw fee
Mozo snapshot

The Discount Variable Home Loan from Heritage Bank delivers great value, with rates starting from 2.24% p.a. (2.29% p.a. comparison rate*) for borrowers with an LVR of up to 70%. What's more, there are no ongoing fees, and you'll be able to take advantage of a range of helpful features, including the ability to make free extra repayments, access a redraw facility, and split your loan.

key icon
Key features

The Heritage Bank Discount Variable Home Loan comes with different rate tiers depending on your LVR. If you're borrowing less than 80% of a property's value, your rate will be a low 2.24% p.a. (2.29% p.a. comparison rate*). On loans between 80% and 90% of a property's value, you'll receive a rate of 2.44% p.a. (2.49% p.a. comparison rate*).

Borrowers will have the option of making repayments weekly, fortnight or monthly. And while there is no offset account, you'll be able to make free extra repayments, which can go a long way towards reducing the amount of interest you pay overall. The loan also has unlimited redraws in case you need to access those funds down the track. Just be mindful of the fees, including the $600 application fee, $150 settlement fee, and $300 discharge fee.

snapshot
Who is it good for

This loan might be appreciated by borrowers who want both flexibility and great value, particularly those who have saved up a deposit of 20% or more.

question icon
Any catches

While the loan is available to low deposit borrowers, be mindful that loans above the 80% loan-to-value-ratio will receive a higher interest rate and will be required to pay Lenders Mortgage Insurance.

Picture of Niko Iliakis
Niko Iliakis
Money writer

Niko Iliakis is a finance journalist at Mozo specialising in home loans, property and interest rate movements. With an eye for facts and figures, Niko deep-dives into topics to help readers understand key info and make more informed financial decisions. He is ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 29 November 2021. 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

2.24% p.a.

n/a

n/a

n/a

2.29% 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

n/a

$0.00

$300.00

Other financial bits

$150,000

$699,999

none

70.00%

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 29 November 2021. 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

2.19% p.a.

n/a

n/a

n/a

2.24% 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

$300.00

Other financial bits

$700,000

none

none

70.00%

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 29 November 2021. 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

2.24% p.a.

n/a

n/a

n/a

2.29% 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

n/a

$0.00

$300.00

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 29 November 2021. 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

3.09% p.a.

n/a

n/a

n/a

3.14% 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

$300.00

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 29 November 2021. 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

2.44% p.a.

n/a

n/a

n/a

2.49% 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

n/a

$0.00

$300.00

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 29 November 2021. 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

2.49% p.a.

n/a

n/a

n/a

2.53% 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

$300.00

Other financial bits

$150,000

$699,999

none

70.00%

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 29 November 2021. 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

2.44% p.a.

n/a

n/a

n/a

2.49% 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

n/a

$0.00

$300.00

Other financial bits

$700,000

none

none

70.00%

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 29 November 2021. 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

2.49% p.a.

n/a

n/a

n/a

2.53% 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

$300.00

Other financial bits

$150,000

$699,999

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 29 November 2021. 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

2.44% p.a.

n/a

n/a

n/a

2.49% 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

n/a

$0.00

$300.00

Other financial bits

$700,000

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 29 November 2021. 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

2.69% p.a.

n/a

n/a

n/a

2.74% 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

$300.00

Other financial bits

$150,000

$699,999

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 29 November 2021. 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

2.64% p.a.

n/a

n/a

n/a

2.69% 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

$300.00

Other financial bits

$700,000

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 29 November 2021. 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

2.79% p.a.

n/a

n/a

n/a

2.84% 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

$300.00

Other financial bits

$150,000

$699,999

none

70.00%

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 29 November 2021. 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

2.74% p.a.

n/a

n/a

n/a

2.79% 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

n/a

$0.00

$300.00

Other financial bits

$700,000

none

none

70.00%

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 29 November 2021. 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

2.79% p.a.

n/a

n/a

n/a

2.84% 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

$300.00

Other financial bits

$150,000

$699,999

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 29 November 2021. 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

2.74% p.a.

n/a

n/a

n/a

2.79% 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

n/a

$0.00

$300.00

Other financial bits

$700,000

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 29 November 2021. 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

2.99% p.a.

n/a

n/a

n/a

3.04% 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

$300.00

Other financial bits

$150,000

$699,999

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.

Details

Rates and fees information correct as at 29 November 2021. 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

2.94% p.a.

n/a

n/a

n/a

2.99% 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

n/a

$0.00

$300.00

Other financial bits

$700,000

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.

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About Heritage Bank

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.