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Heritage Bank Variable Home Loan (Home Advantage Package)

The Heritage Bank Variable Home Loan (Home Advantage Package) offers variable rates from 5.84% p.a. (6.19% p.a. comparison rate*). Low deposit home loans.


Updated 30 April 2025


Fact checked and verified. Updated 30 April 2025
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Interest Rates
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I want to borrow
with a deposit of
for my
Principal & Interest(% p.a.)
Rate
Type
Interest
Rate
Comparison
Rate*

Variable

5.89%

6.24%

Expert Review

If you're after a fully featured home loan with package benefits, then the Heritage Bank Variable Home Loan (Home Advantage Package) is worth considering. As part of a broader home lending package and one of Heritage Bank's most comprehensive home loan offerings, it features variable interest rates across the Owner Occupier and Investor categories, and the ability to split your loan with Heritage Bank's fixed rates. Heritage Bank also offers a basic home loan option, so it is prudent to consider what's most important to you before applying. Further details about the Heritage Bank Variable Home Loan (Home Advantage Package) options and benefits are outlined below.

Package overview, Owner Occupied and Investor loans:
A key feature offered under the Package is the ability to use an offset account to minimise interest charged. This can, over the life of the loan, save borrowers significant money. Under the Package, there is the option to split the loan into Variable and Fixed rate components, plus being able to make extra repayments and in the future, redraw funds if desired. In terms of repayments Interest Only repayments and Principal and Interest repayments are available.
Specifically for Owner Occupier loans, under the package:
Pricing includes a $350 annual fee, and a reasonable variable rate starting from 5.84% p.a. (6.19% p.a. comparison rate) on Principal and Interest repayments. Keep in mind that these rates should be negotiable if you are borrowing a sizeable amount, particularly if you also hold a large deposit or equity in the property. Also, the Heritage Bank Variable Home Loan (Home Advantage Package) does require a minimum of either 5% deposit or 5% existing equity. Often anything above these amounts will help you further negotiate a lower interest rate.
Specifically for Investor loans, under the package:
Pricing includes a $350 annual fee, and a reasonable variable rate starting from 5.99% p.a. (6.34% p.a. comparison rate) on Principal and Interest repayments. An Interest Only repayment option is also available, featuring a reasonable variable rate starting from 6.29% p.a. (6.61% p.a. comparison rate). Please note, this investor loan requires a minimum 5% deposit or 5% existing property equity. For lending above these amounts, you'll be positioned well to negotiate a lower interest rate.
Summary
Considering the range of options available with this product under the package, this home loan will appeal to a range of people, either as a home owner or as an investor. It will also appeal to someone where the lesser known Heritage Bank brand and service isn’t a concern, or for those who are happy to bank with a lender that offers features most important to them, over who the lender is.

Product Details
Heritage's Variable Rate Home Loan can be a great option if you're wanting to make extra repayments"
- Heritage Bank
Fees

•

$0 establishment fee

•

$350 ongoing annual fee

Other fees may apply.

Loan Amount

•

From $150,000

Feature

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Split your loan into fixed and variable rate portions

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Save interest with an offset account

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Make extra repayments

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Redraw extra repayments that you have made

•

Package discounts and benefits

TMD

Before applying for this product, you should read the Target Market Determination (TMD) available here on the Heritage Bank website.

More information
* Comparison rate is based on a secured loan of $150,000 over a 25 year term. 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.
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