Standard Variable Rate Home Loans

Heritage Bank's Standard Variable home loan is a great option if you're the kind of person who wants to make extra repayments and pay out your loan in the medium term.

There are very few restrictions and penalties, so if you're after the maximum flexibility and a great People first rate, this could be the loan for you.

Our Standard Variable loan rates



Interest Rate

Comparison Rate *

Standard Variable5.04%5.15%
Home Advantage Variable   
$150,000 to $249,9991.05%3.99%4.34%
$250,000 to $699,9991.10%3.94%4.29%
$700,000 or more1.15%3.89%4.24%



Interest Rate

Comparison Rate *

Standard Variable5.44%5.54%
Home Advantage Variable   
$150,000 to $249,9990.90%4.54%4.88%
$250,000 to $699,9991.00%4.44%4.78%
$700,000 or more1.05%4.39%4.73%
Rates effective from 14/03/2017


Application Fee


Monthly Fee


Reborrow fees
(Reborrowing administration fee on loan accounts where allowed)


Why choose a variable Home Loan?


Variable rate loans are generally more flexible than fixed rate loans because you're not locked in to a fixed term contract. If your circumstance changes, so can your loan.

Benefit from interest rate cuts

When interest rates drop, your loan repayments go down - saving you money.

How are Heritage Bank home loans rated by Mozo community?

Overall Mozo community rating: out of 10

Overall customer rating:


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Refinance Calculator


You could save up to

over the life of the loan

Savings based on the .

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Whoa there, it seems like you've already got a pretty good deal going. If the details you've entered are correct, our calculator says that over the life of your loan you'd currently be better off staying where you are. If you're shopping around though, don't despair, the calculator is no match for advice from a real person.

As a People first bank, our rates are almost always lower than the big four. In fact, a recent University of New England study found Heritage had, on average, the lowest standard variable rate of any financial institution in the country over the last 15 years.

If you want to double check, give us a call on 13 14 22 and we'll almost certainly be able to find other ways for you to save money and time on your home loan.

Calculation based on the .

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* 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.

^ To approved applicants only. No application fee offer valid for new standard variable, discount variable and fixed rate home loans and no annual fee for first year of Home Advantage package loans, applied for between 1 March and 30 April 2017, and disbursed by 31 October 2017. Application fee for standard variable, discount variable, and fixed rate home loans normally $600. First year annual fee for Home Advantage Package normally $350. Offer not valid for further advances, living equity or line of credit loans, bridging loans, business loans, existing customers switching loans, internal refinances, or borrowing for alterations and additions. Conditions, criteria and fees apply.

Home loan repayment terms range from 1 to 30 years. Comparison rate representative example is based on: a secured loan of $150,000 borrowed for 25 years with the minimum interest rate of 3.79% p.a. (3.81% p.a. comparison rate), the estimated total amount payable including fees is $232,740. WARNING: These comparison rates apply only to the examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

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

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.

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.