Heritage Bank logo

Heritage Bank Standard Personal Loan (Unsecured)

Advertiser disclosure
Interest rate from
8.99% p.a.
Comparison rate from
9.35% p.a.based on $30,000
over 5 years
Upfront fee
$250.00

Mozo editorial review Heritage Bank Standard Personal Loan (Unsecured) - last updated: 1 August 2023

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What's hot
  • 8.99% p.a. fixed rate (9.35% p.a. comparison rate*)
  • Redraw facility & extra repayments
  • Flexible repayment options
What's not
  • $250 upfront fee
Mozo snapshot

Planning the annual family holiday? Or maybe you’re looking to revamp your kitchen? Whatever big purchase you have on the horizon, the Heritage Bank Standard Personal Loan (unsecured) can help take the financial weight off your shoulders now so you can gradually chip away at the total cost over time. With a competitive fixed interest rate and plenty of flexible features, the Heritage Bank Standard Personal Loan (unsecured) will get you on the right track.


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Key features

With Heritage Bank's Standard Personal Loan, you can lock in a fixed interest rate from 8.99% p.a. (9.35% p.a. comparison rate*). The loan also offers a range of flexible term options, with loans available up to seven years. Plus, you can choose to make your repayments weekly, fortnightly or monthly.

With a minimum loan amount of $5,000 and a maximum of $50,000, the Heritage Bank Standard Personal Loan is unsecured, meaning you won't have to put your car or any other assets up as security.

While this loan allows you to make extra payments, keep in mind that you might incur an additional penalty fee for doing so. It's also good to know that if at any point you should need access to extra funds, this loan has a redraw facility, meaning that you'll be able to dip into any extra repayments you've made. Keep in mind, if you have made additional loan repayments, it's best not to touch them unless you really need to. Otherwise, you're just undoing all your hard work to pay off your loan early.

The Heritage Bank Standard Personal Loan (Unsecured) charges a range of fees, including a $250 application fee and a $30 late payment fee.

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Who is it good for

The Heritage Bank Standard Personal Loan (Unsecured) can be an excellent option for anyone who's face-to-face with a big expense, like a holiday or home renovation, or wants to consolidate their debt, and would like to pay it off gradually over time at a competitive interest rate.

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Any catches

Be aware that if you are looking to use this loan to purchase a vehicle, it must be over seven years old. For newer cars, you could consider the Heritage Bank Car Loan instead. 

Details

Rates and fees information correct as at 18 April 2024. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

Fixed

8.99% p.a. fixed

9.35% p.a.based on $30,000
over 5 years

Fees

$250.00

$0.00

$30.00

$0.00

0

Other financial bits

$5,000.00

$50,000.00

1 Year

7 Years

Unsecured

Features

Debt consolidation, Home improvements, Travel

Weekly, Fortnightly, Monthly

yes

yes

none

none

WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or 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.

Customer Reviews

How are Heritage Bank personal loans rated by the Mozo community?

Overall
Price
Features
Customer service
Convenience
Trust

Latest reviews of Heritage Bank Standard Personal Loan (Unsecured)

About Heritage Bank

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