Heritage Bank cuts discount variable home loan rate to 4.08%

Heritage Bank has this week cut its discount variable home loan rate to just 4.08%.

The offer applies to new owner-occupier home loans of more than $150,000.

The cut is one of a number of reductions made to the interest rates on several of Heritage’s home loan products.

Heritage’s CEO Mr John Minz said the new discount variable rate was one of the best on offer in the country.

“Heritage offers extremely competitive rates, along with a great range of products and outstanding service,” Mr Minz said.

“On top of cutting our interest rates, we are currently waiving application fees on new standard variable, discount variable and fixed rate home loans until 30 November 2015. That alone could save customers $600.

“We have also recently released a new Home Advantage Package that offers significant potential savings, through discounts and fee waivers, for customers who packaged together their home loan, credit card and transaction account.”

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.