Heritage to pass on latest interest rate rise

11 August 2022

Heritage Bank has announced it will increase interest rates on its variable home loans by 0.50%, following the Reserve Bank of Australia’s (RBA) latest decision to increase the Official Cash Rate by 0.50%.

Heritage will also increase all variable Business Banking loan interest rates by 0.50%.

These changes will take effect from Wednesday, 17 August, 2022.

With the increase to the cash rate adding to the growing pressure on Heritage’s funding costs, it has become necessary to pass on the rate rise.