Compare Home Loans

This handy reference lets you view the features, benefits and fees of the fixed and variable home loans on offer from Heritage.

Home loan features

Features of all our home loans

  • Make unlimited extra repayments
  • Online redraw
  • People first service and commitment to our customer-owned values
  • 24/7 access with our Mobile Banking App, Heritage Online, by phone and in branch
  • Repayments via periodic payment, direct debit, manual transfer, BPAY®, or direct deposit

Fixed or variable?

As a general guide, fixed rate loans suit people who want to know exactly how much they'll pay each month. Discount Variable loans are great for those who want the lowest variable rate. Our Fixed Rate and Standard Variable loans all have the option to be packaged with a credit card in our Home Advantage Package.

Loan Term

The Loan Term sets the maximum time you have to pay the loan back. All of our Home Loans have terms of up to 30 years, excluding our Bridging Loan. Our Bridging Loan has a maximum term of 6 months.

Minimum Loan Amount

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

Discount Variable $150,000
Fixed Rate
Standard Variable $20,000
Fixed Rate in Package ⚐ $150,000
Standard Variable in Package ⚐ $150,000
Bridging Loan $20,000

Redraw Extra Repayments

All of our Home Loans have a redraw facility, excluding our Bridging Loan. This means you can make repayments in advance and take out this extra money out whenever you need. Set up free Online Redraw to move money in our Mobile Banking App or Heritage Online 24/7.

Interest Only Term

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

Discount Variable 5 years for investors only
Fixed Rate
5 years for investors only
Standard Variable 5 years for investors only
Fixed Rate in Package ⚐ 5 years for investors only
Standard Variable in Package ⚐ 5 years for investors only
Bridging Loan 6 months

Split Loans

Split loans are available with all our Home Loans, excluding our Bridging Loan. A split loan allows you to have multiple loans secured by the one property. This means you could have some of your loan fixed and some variable. 

Offset Account

An offset account is a transaction account that can reduce the amount of your home loan on which you are required to pay interest on.  Learn more about how offset accounts work

Discount Variable No                         
Fixed Rate
Standard Variable Yes, 100% Offset 
Fixed Rate in Package ⚐ No
Standard Variable in Package ⚐ Yes, 100% Offset
Bridging Loan  No

Loan Top Up

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

Discount Variable $10,000 minimum
Fixed Rate
Standard Variable $10,000 minimum
Fixed Rate in Package ⚐ No
Standard Variable in Package ⚐ $10,000 minimum
Bridging Loan No

Switch Loan Types

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

Discount Variable Yes                           
Fixed Rate
Standard Variable Yes
Fixed Rate in Package ⚐ Yes
Standard Variable in Package ⚐ Yes
Bridging Loan No

Rate Guarantee

A Rate Guarantee is available on Fixed Rate Home Loans at Heritage for a fee of 0.15% of your basic loan amount and is current for 90 days from application.

A Rate Guarantee is optional extra on fixed loans and allows you to lock in the fixed rate you're applying for on your home loan. This means 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.

How much?

Apply by 30 September 2022 and pay no application fee.

Save up to $600!#

Break Fee

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
Fixed Rate
Break fee may apply
Standard Variable No
Fixed Rate in Package ⚐ Break fee may apply
Standard Variable in Package ⚐ No
Bridging Loan No

Application Fee

When applying for a Home Loan, an Application Fee is payable. This can be added into your loan during application.

Discount Variable $600
Fixed Rate
Standard Variable $600
Fixed Rate in Package ⚐ $0 ($350 annual fee)
Standard Variable in Package ⚐ $0 ($350 annual fee)
Bridging Loan $900

Loan Service Fee

A loan service fee is a regular fee, usually monthly or annually, that is charged for the ongoing service of your loan.

Discount Variable $0                           
Fixed Rate
$8 per month
Standard Variable $8 per month
Fixed Rate in Package ⚐

$350 annual fee

Standard Variable in Package ⚐

$350 annual fee

Bridging Loan  No fee

Settlement Fee

Across all our Home Loans, a Settlement Fee of $210 is payable when the loan settles.  This will be deducted from the proceeds of the loan.
Research tools
Home Loan repayment calculator
Borrowing power calculator
Home Loan refinancing calculator
The home loan application process
Buying your first home guide
Investing in property
Interest rates for new home loans (PDF)
Interest rates for loan switches, refixes and products withdrawn from sale (PDF)

Our specialists are here to support you through every step of your home buying journey.

If you have a question about our home loans, please tap here for live assistance.