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Compare and review Heritage Bank personal loan rates
Looking to make major purchase, go on a holiday or perhaps to consolidate your existing debts into one simple regular repayment? When comparing Heritage Bank personal loans, there are other important things to consider and understand, other than just Heritage Bank’s interest rates.
What personal loan options does Heritage Bank offer?
Heritage Bank has 2 personal loan products:
- Heritage Bank Standard Personal Loan
- Heritage Bank Low Rate Secured Personal Loan
View the above table for detailed product information and a comparison of the interest rates, fees and features.
You can also review and compare Heritage Bank car loans, Heritage Bank home loan and Heritage Bank credit cards.
Do you have a Heritage Bank personal loans calculator?
Yes. Use the filter to adjust your loan amount and term to calculate your approximate monthly repayments. When you apply the filter, you will see a breakdown of your approximate monthly repayments as well as the total amount of interest and fees paid.
How to apply for a Heritage Bank Personal Loan?
If you’d like to apply online for a Heritage Bank personal loan, just scroll up and click on “Learn more” to be taken to Heritage Bank’s secure online application form. Before you apply, be sure to learn about Heritage Bank’s personal products, fees and eligibility criteria. Give yourself around 30 minutes to complete the application.
Heritage Bank’s personal loan eligibility criteria
Before you apply for a personal loan, be sure to understand and meet the Heritage Bank’s lending criteria. Below is high-level overview of Heritage Bank’s criteria:
Heritage Bank’s minimum requirements for a personal loan
- Minimum age of 18
- Earn a minimum of $15,000 per annum
- An Australian citizen, permanent resident or have a valid visa
Information you’ll need to provide
Whether at the Heritage Bank branch or online, make sure to have the following nearby:
- Proof of income. A verifiable and steady employment. You may be required to provide copies of your most recent pay slips and employer’s contact information
- A list of your assets, expenses and liabilities
- Driver’s licence (if you have one) or other forms of ID
Are you self-employed?
If you’re self-employed, you will also need to provide:
- Financial statements for the last year
- Your most recent personal/business tax return
Other things to keeping mind when applying with Heritage Bank
- It’s advantageous to have a good credit history. For example, you have no recent defaults and no frequent requests for credit
- Credit cards with large credit limits are seen as liabilities, even if there’s nothing owing. If you have existing liabilities, be certain you can pay them off in addition to your Heritage Bank personal loan
There are many additional factors Heritage Bank consider when accessing your application, but the above are the most important. If you feel like you may not meet their eligibility criteria, it may be best to save!
What can you use a Heritage Bank personal loan for?
You can borrow for almost any worthwhile purpose. No, going to the casino and putting it all on black is not a worthwhile purpose.
Examples of common loan purpose Heritage Bank will lend for:
Additional product information
Heritage Bank’s minimum and maximum personal loan amounts and terms
You can borrow between $5,000 and $100,000. Over terms between 1 year and 10 years. Use our filter as a repayment calculator to see your monthly repayments and rates.
Heritage Bank’s repayment schedule
Heritage Bank allow weekly, fortnightly or monthly repayment.
Extra repayment or early penalties
Heritage Bank allows you to make additional or early repayments. There are fees associated with completely repaying your loan off early.
Redraw facility
Heritage Bank’s Variable Rate Personal Loan gives you the option of being able to make redraws.
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