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Heritage Bank Standard Personal Loan (Unsecured)

The details shown below are for a fixed loan between $5,000 and $25,000

The details shown below are for a variable loan between $5,000 and $25,000

Choose the version of this loan that suits you best

  • Loan: $5,000 $25,000

  • Loan: $5,000 $25,000

Interest rate from
8.99% p.a.
Comparison rate from*
9.62% p.a.based on $30,000
over 5 years
Upfront fee
$200
Interest rate from
11.99% p.a.
Comparison rate from*
12.61% p.a.based on $30,000
over 5 years
Upfront fee
$200

Mozo editorial review Heritage Bank Standard Personal Loan (Unsecured)

Last updated: 2 January 2020.

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What's hot
  • 8.99% p.a. interest rate (9.62% p.a. comparison rate)*
  • Redraw facility & extra repayments
  • Flexible repayment options
What's not
  • $200 upfront fee
Mozo snapshot

Planning the annual family holiday? Or maybe you’re looking to revamp your kitchen? Whatever big purchase you have on the horizon, the Heritage Bank Standard Personal Loan (unsecured) will take the financial weight off your shoulders now so you can gradually chip away at the total cost over time. With a competitive interest rate and plenty of flexible features, the Heritage Bank Standard Personal Loan (unsecured) will get you on the right track.

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Key features

The Heritage Bank Standard Personal Loan (Unsecured) offers a highly competitive 8.99% p.a. fixed interest rate (9.62% p.a comparison rate*), which is often one of the perks that come with opting for a smaller bank or credit union.

On top of those low interest rates, this loan also offers a range of flexible term options, giving you a choice between 1-5 years to pay off your loan, as well as the option of either a weekly, fortnightly or monthly repayment cycle.

With a minimum loan amount of $5,000 and a maximum of $25,000, the Heritage Bank Standard Personal Loan is an unsecured loan, meaning you won’t have to put your car or any other assets up as security.

While this loan allows you to make extra payments, keep in mind that you might incur an additional penalty fee for doing so. It's also good to know that if at any point you should need access to extra funds, this loan has a redraw facility, meaning that you’ll be able to dip into any extra repayments you’ve made. Keep in mind, if you have made additional loan repayments, it’s best not to touch them unless you really need to. Otherwise, you're just undoing all your hard work to pay off your loan early.

The Heritage Bank Standard Personal Loan (Unsecured) charges a range of fees, including a $200 application fee, $5 service fee and $20 late payment fee.

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Who is it good for

The Heritage Bank Standard Personal Loan (Unsecured) is an excellent option for anyone who's face-to-face with a big expense, like a holiday or home renovation, and are wanting to pay it off gradually over time.

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Any catches

Be aware, the Heritage Bank Standard Personal Loan (Unsecured) comes with a few fees, including a $200 application fee, $5 service fee and $20 late payment fee.

Details

Rates and fees information correct as at 5 June 2020. 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

  • 8.99% p.a. fixed

  • 9.62% 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

  • $25,000.00

  • 1 Year

  • 5 Years

  • Unsecured

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.

Details

Rates and fees information correct as at 5 June 2020. 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
  • Variable

  • 11.99% p.a.variable

  • 12.61% 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

  • $25,000.00

  • 1 Year

  • 5 Years

  • Unsecured

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
8.5/10
Price
7.5/10
Features
7.2/10
Customer service
8.7/10
Convenience
8.1/10
Trust
8.4/10

Latest reviews of Heritage Bank Standard Personal Loan (Unsecured)

  • Overall 10/10
    'Competitive features and great customer service'

    Heritage has the best rates and staff with the best customer service and advice. The lowest interest rate and fees.

    Read full review

    Heritage has the best rates and staff with the best customer service and advice. The lowest interest rate and fees.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kevin, Queensland reviewed over 5 years ago
  • Overall 9/10
    Great customer focused bank

    Have always looked after me, very easy to contact and always willing to help no matter what, will be taking out my home loan through them also.

    Read full review

    Have always looked after me, very easy to contact and always willing to help no matter what, will be taking out my home loan through them also.

    Price
    8/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Blake, Queensland reviewed over 5 years ago
  • Overall 8/10
    The best customer service

    Everything about Heritage Bank is excellent, I can't fault them in anyway.

    Read full review

    Everything about Heritage Bank is excellent, I can't fault them in anyway.

    Price
    8/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Jenny, Queensland reviewed over 6 years ago
  • Overall 10/10
    Love Heritage no traps , people bank fantastic!!!

    this bank is one of the loves in my life. im happy, safe and secure and get treated wonderfully.

    Read full review

    this bank is one of the loves in my life. im happy, safe and secure and get treated wonderfully.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Amanda, Queensland reviewed about 8 years ago
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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