8.4/10

Based on 1640 Heritage Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Heritage Bank personal loans

Heritage Bank is the largest customer-owned bank in Australia and has no less than five different types of personal loans available to customers. If a personal loan with stand-out features like generous loan terms, higher than usual loan amounts and a convenient redraw facility sounds good to you, read further to get the lowdown on what this mutual bank has to offer.

Heritage Bank won two Mozo Experts Choice Awards for 2023 – one for their Car Loan and one for their Standard Personal Loan.

Heritage Bank offers the following personal loans

Rates and fees verified as correct at 31 May 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate from Comparison rate from Upfront fee  
Car Loan (Up to 7 years old, Fixed, Secured)

6.49% p.a.

6.84% p.a.based on $30,000
over 5 years

$250.00

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Standard Personal Loan (Fixed, Unsecured)

8.99% p.a.

9.35% p.a.based on $30,000
over 5 years

$250.00

Heritage Bank personal loans overview

Fixed rate car loan:

Are you ready to ditch your rusty car for a new or second-hand ride using a personal loan to finance it? If you answered yes, then perhaps Heritage Bank’s competitive fixed rate car loan with flexible features could be a good pick. This loan involves buying a car five years old or less and securing it to the contract as collateral. Depending on your financial circumstances, you can borrow $5,000 to $100,000 and pay it off between one to seven years. If you are on a regimented budget, this fixed rate car loan may work for you because repayments remain the same for the entire term. Plus there are no monthly fees. Heritage Bank accept extra loan repayments too, which you can dip into via a redraw facility.

The Car Loan from Heritage Bank won a 2023 Mozo Experts Choice Award for Best Used Car Loan.

Standard personal loan:

If you’re looking for a smaller personal loan amount with plenty of flexible features and no monthly fees, Heritage Bank’s standard personal loan might be your best fit. With loans ranging from $5,000 to $50,000, a fixed rate and flexibility to choose a repayment term anywhere up to 7 years you could use this personal loan to help renovate your home or landscape the garden. It also comes with flexible features like the option to make extra repayments and redraw from them. 

The Standard Personal Loan from Heritage Bank won a 2023 Mozo Experts Choice Award for Best Unsecured Personal Loan.

Heritage Bank personal loan features at a glance

  • No monthly fees: Monthly fees can pinch your hip pocket, but if you have a Heritage Bank personal loan there are no such fees.
  • Repayment flexibility: Heritage Bank personal loans can be convenient to pay off because you have the choice between weekly, fortnightly or monthly repayments.
  • Extra repayments: You can make unlimited extra loan repayments on Heritage Bank personal loans.
  • Redraw facility: With all personal loan types, you have the option to withdraw money from your extra repayments free of charge.
  • Generous loan terms: Heritage Bank allows for loan terms of up to seven years. This could be a plus for you if you want to stretch repayments out further to suit your budget.

How do you apply for a Heritage Bank personal loan?

You can apply for a Heritage Bank personal loan in a few easy steps. Once you have all your documents (detailed below) ready to submit with your application, pop into a branch, give Heritage a call or use the online portal to fill everything out there. The bank will let you know if you’ve been approved swiftly and you should have the funds cleared in your account in a matter of days.

To apply for a personal loan with Heritage Bank you will need:

  • The details of your income, assets and liabilities.
  • 100 points of ID: such as your passport, medicare card, driver’s licence and proof of address on a document like your utility bill.

How are Heritage Bank personal loans rated?

Mozo users have rated Heritage Bank personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of personal-loans
Heritage Bank personal loans customer reviews
Overall
8.5/10
Price
7.6/10
Features
7.3/10
Customer service
8.8/10
Convenience
8.2/10
Trust
8.5/10
Based on 44 Heritage Bank product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Heritage Bank personal loan reviews

Heritage Bank Car Loan
Overall 10/10
Excellent customer service.

Very satisfied customer, prompt and informative customer service that made applying for a car loan very straight forward. Highly recommend this bank.

Read full review

Very satisfied customer, prompt and informative customer service that made applying for a car loan very straight forward. Highly recommend this bank.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Linda, Victoria, reviewed over 3 years ago
Heritage Bank Standard Personal Loan (Unsecured)
Overall 10/10
Easy to understand with a personal touch

I needed a personal loan in a hurry and I was able sit down face to face with a branch manager and discuss my options. Once everything was agreed upon the funds were available to me within 24 hours. The repayment plan was easy to follow and access through my mobile app. I opted for the automatic repayment at fortnightly intervals as that worked for me but there were many options available. Best feature for me was actually talking to a person who could help me understand in layman terms.

Read full review

I needed a personal loan in a hurry and I was able sit down face to face with a branch manager and discuss my options. Once everything was agreed upon the funds were available to me within 24 hours. The repayment plan was easy to follow and access through my mobile app. I opted for the automatic repayment at fortnightly intervals as that worked for me but there were many options available. Best feature for me was actually talking to a person who could help me understand in layman terms.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Miranda, Queensland, reviewed over 3 years ago
Heritage Bank Low Rate Secured Personal Loan
Overall 10/10
Great rates and super customer service.

Very easy process from start to finish. I would totally recommend as they care about their members.

Read full review

Very easy process from start to finish. I would totally recommend as they care about their members.

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Kristine, Queensland, reviewed over 4 years ago
Heritage Bank Personal Loan
Overall 10/10
Competitive premiums and great customer service

An Australian person is always able to speak to you and they are friendly and considerate. They are also flexible and try to help.

Read full review

An Australian person is always able to speak to you and they are friendly and considerate. They are also flexible and try to help.

Price
10/10
Features
7/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Tracey, Queensland, reviewed over 4 years ago
See all personal loan reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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