Compare our home loans

This handy reference lets you view the benefits and features of all the home loans on offer from Heritage Bank.

With all our Home Loans

  • Make unlimited extra repayments
  • Split Loans
  • Interest Only options for investors
  • Access via the usual channels: ATM, App, EFTPOS, Debit/Credit Card, BPAY, Internet, Telephone, Branch
As a general guide, fixed rate loans suit people who want to know exactly how much they'll pay each month, discount variable rates are great for those who want the lowest price, and standard variable loans offer more features, like 100% offset accounts and greater flexibility on repayment options.
Loan features

This is the smallest amount you can borrow to qualify for the loan.


Discount Variable $150,000
Fixed Rate
$20,000
Home Advantage Variable $150,000
Home Advantage Fixed $150,000
Living Equity $20,000
Home Advantage Living Equity $150,000
Bridging Loan $20,000

 

 

Once you've already taken out a loan, a Loan Top Up allows you to borrow more.

Discount Variable $10,000 minimum
Fixed Rate $10,000 minimum
Home Advantage Variable $10,000 minimum
Home Advantage Fixed $10,000 minimum
Living Equity Not available
Home Advantage Living Equity Not available
Bridging Loan Not available

The Loan Term sets the maximum time you have to pay the loan back.

Discount Variable 1 to 30 years
Fixed Rate 1 to 30 years
Home Advantage Variable 1 to 30 years
Home Advantage Fixed 1 to 30 years
Living Equity 1 to 30 years
Home Advantage Living Equity 1 to 30 years
Bridging Loan 6 to 12 months

Used for Fixed loans, this ensures that you won't pay more than the advertised rate if rates go up before the loan settles, but also allows you to benefit from a cheaper price if interest rates drop in between the time you apply and your settlement date.

Discount Variable Not available
Fixed Rate Yes (fee 0.15%)
Home Advantage Variable Not available
Home Advantage Fixed Yes (fee 0.15%)
Living Equity Not available
Home Advantage Living Equity Not available
Bridging Loan Not available

Some loans can be re-drawn via online banking so you can take out extra money whenever you need to.

Discount Variable Yes
Fixed Rate Yes
Home Advantage Variable Yes
Home Advantage Fixed Yes
Living Equity Yes
Home Advantage Living Equity Yes
Bridging Loan Not available

Some loans can be easily transferred to another loan type without having to re-apply.

Discount Variable Yes
Fixed Rate Yes
Home Advantage Variable Yes
Home Advantage Fixed Yes
Living Equity Not available
Home Advantage Living Equity Not available
Bridging Loan Not available

The maximum amount of time the loan can be interest-only. For Investment loans only. 

Discount Variable 5 years
Fixed Rate 5 years
Home Advantage Variable 5 years
Home Advantage Fixed 5 years
Living Equity 10 years
Home Advantage Living Equity 10 years
Bridging Loan Not available

An offset account is a bank account that offsets the amount of principal on which you ware required to pay interest. For example, if you have a $100,000 balance outstanding on your loan, you would normally pay interest on the full $100,000. If you have a $100,000 balance outstanding on your loan and an offset account with $30,000 in it, the $30,000 offsets the $100,000 loan and you only pay interest on $70,000.

Discount Variable Not available
Fixed Rate Yes, partial offset only
Home Advantage Variable Yes
Home Advantage Fixed Yes, partial offset only
Living Equity Not available
Home Advantage Living Equity Not available
Bridging Loan Not available
How much?

Pay no application fee and save up to $600 on your home loan

Hurry, offer ends 31 October

Some loans may incur a break fee if you pay the loan out before you agreed to.  This usually applies to fixed rate loans.

Discount Variable No fee
Fixed Rate Break fee may apply
Home Advantage Variable No fee
Home Advantage Fixed Break fee may apply
Living Equity No fee
Home Advantage Living Equity No fee
Bridging Loan No fee

When applying for a Home Loan, an Application Fee is payable. This can be rolled into the loan.

Discount Variable $600
Fixed Rate $600
Home Advantage Variable No fee
Home Advantage Fixed No fee
Living Equity $600
Home Advantage Living Equity No fee
Bridging Loan $900
Across all our Home Loans, a Settlement Fee of $150 is payable when the loan settles.  This will be deducted from the proceeds of the loan.

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Our specialists will help you find the right product and support you through every step of the purchase.

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