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Balance Transfer Calculator

What is a balance transfer?

A balance transfer is where Heritage will provide a customer credit to pay off an outstanding amount on a non-Heritage credit account. When Heritage makes a payment as a balance transfer (at the customer’s request) it is treated as cash in advance.

Why do a balance transfer?

By transferring your debt to a credit card account with lower interest and fees you will be paying off your balance sooner.

You could also significantly reduce the effort and costs associated with paying off a number of credit cards by transferring the debt over to a Heritage credit card account.


Balance Transfer Calculator
Existing Balance $*
Present Interest Rate (% p.a.)*
Transfer Interest Rate (% p.a.)*
Transfer Rate Term (months)*
Your Approx Savings*
This calculator is a guide only. Fees and government taxes and charges may apply to a balance transfer transaction.
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How to use the calculator:

  1. Enter the amount you would like to transfer from a non-Heritage credit account and the interest rate applicable to that account.
  2. Enter the Interest Rate and Term for the Balance Transfer offer.
  3. Click “calculate” to see how much you could save.

Please note:

This calculator is an estimate of the interest you could save by doing a balance transfer. It is a guide only and not a quote. The estimated savings assumes no transactions will be made on your credit card during the Balance Transfer period entered and does not take into account any repayments, fees or charges.

To find out more about the balance transfer facility, including detailed information on repayment amounts, drop into your local Heritage branch or phone the Queensland based Contact Centre on 13 14 22.

To approved applicants only. Fees and charges apply, Heritage Bank Limited ABN 32 087 652 024 and AFSL and Australian Credit Licence 240984.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  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.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.