Target Bonus interest rate change effective 1 August 2021

1 August 2021

Heritage Bank is making a change to a select deposit interest rate effective Sunday 1 August, 2021.

The rate change is as follows:

• Decrease Target Bonus – Bonus Rate from 0.50% to 0.45%

This change is coming in to maintain the best interests of our customers overall. Our interest rate changes are implemented to ensure good pricing benefits for depositors and borrowers.

As a customer-owned bank, Heritage puts the best interest of members first. Unlike the big listed banks, we only aim to make a modest profit each year and then reinvest those funds into providing better products and services to all members. None of our profits are paid out to shareholders like the big listed banks.

You can find more information on our rates available at our interest rates page.