Heritage Bank Car Loan

5.49% p.a.

6.13% p.a.based on $30,000
over 5 years

$200

Heritage Bank Car Loan

5.49% p.a.

6.13% p.a.based on $30,000
over 5 years

$200

Mozo Review   Heritage Bank Car Loan Review

Last updated: 31 May 2019.

What's hot:
  • Fixed rates from 5.49% p.a. (6.13% comparison rate)*

  • Flexible repayment schedule

  • 2018 Mozo People’s Choice Award Winner in the Outstanding Customer Satisfaction and Most Recommended categories

What's not:
  • $200 upfront fee

Mozo snapshot:

The low 5.49% p.a. fixed interest rate (6.13% comparison rate)* that comes with the Heritage Bank Car Loan is great, but what really takes the cake is the reassurance in knowing that you’re banking with a 2018 Mozo People’s Choice award-winner in the Outstanding Customer Satisfaction and Most Recommended categories.

Key features:

With a competitive low fixed interest rate of 5.49% p.a. (6.13% comparison rate)*, and a minimum loan amount of $5000 and a maximum of $100,000, the Heritage Bank Car Loan is a fantastic option if you’re eyeing off a new set of luxury wheels. Keep in mind that this is a secured loan, so your vehicle will end up being your security against the loan.

This loan offers term options of 1-7 years, meaning you'll have plenty of time to pay your loan off should you need it. Not to mention flexible regular repayment options, giving a choice of either weekly, fortnightly or monthly repayments.

While we’re on the topic of flexible features, you should know that the Heritage Bank Car Loan allows you to make additional loan repayments, but bear in mind, if you pay the whole loan off early, it might come at the cost of an additional fee. This loan also offers a redraw facility, which is nice to have in an emergency.

If you’re big on a good customer service experience, you’ll be happy to find that Heritage Bank has won Mozo People’s Choice awards in the Outstanding Customer Satisfaction and Most Recommended categories.

Who it's good for:

The Heritage Bank Car Loan is a fantastic car loan option for anyone looking to purchase a brand new car, particularly if its a luxury vehicle that comes with a heftier price tag, since its available for loan amounts up to $100,000.

Any catches?

With every positive, there’s usually a negative. In this case, the negative is a range of additional fees, such as a $200 application fee, $5 service fee and $20 late payment fee.

Details

Rates and fees information correct as at 19 June 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
  • Fixed

  • 5.49% p.a. fixed

  • 6.13% p.a.based on $30,000
    over 5 years

Fees
  • $200.00

  • $5.00

  • $20.00

  • $0.00

  • Fees may apply

Other financial bits
  • $5,000.00

  • $100,000.00

  • 1 Year

  • 7 Years

  • Vehicle

Features
  • Weekly, Fortnightly, Monthly

  • yes

  • yes

  • none

  • none

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

Customer Reviews

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

Overall customer rating
8.4/10
Price
7.4/10
Features
7.1/10
Customer service
8.7/10
Convenience
8.0/10
Trust
8.3/10
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.

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