Heritage Bank Home Advantage Loan


The Heritage Bank Home Advantage Loan lets customers borrow up to 95 per cent of the value of the property, but lenders’ mortgage insurance will be required for loans over 80 per cent.

The package offers a discount on the variable rate over the life of the loan, which varies depending on the size of the loan.

Repayments can be made weekly, fortnightly and monthly as both principal and interest or interest-only payments.

Customers can make additional repayments and have the option of a free redraw facility to access these payments. There is also a 100 per cent offset account for those wanting to use their savings to reduce the interest owed.

Customers are also given discounts on eligible insurance policies and have a portability option if they wish to transfer the loan to a new property.

Who is the Heritage Bank Home Advantage Loan good for?

The Heritage Bank Home Advantage loan is good for homebuyers looking to couple their loan with a credit card and who want a low rate and flexibility in how they make repayments.

A line of credit option may suit those looking to renovate and interest-only repayments may suit some investors.

Review - What RateCity says

The Heritage Bank Home Advantage Loan is a full-featured package that combines a fixed rate, variable or line of credit loan with a credit card and transaction account. Whilst the loan requires a large ongoing annual fee, it gives customers a number of key repayment features for those wanting to repay their loan quickly or looking for more flexibility.

These include the option for additional repayments, free redraw facility and an offset account, all of which may help customers save on repayments over the course of the loan. The package gives customers a significant discount to their variable interest rate, which makes it a much more competitive rate, although this does not apply to fixed-rate loans during the fixed rate period.

The discount varies by the size of the loan amount, so it’s worth checking the circumstances of your loan requirements to see what kind of discount you may receive

Heritage Bank Home Advantage Loan Options

The Heritage Bank Home Advantage loan is a fixed or variable rate loan for owner-occupiers and investors that is combined with a credit card and transaction account.

Advertised rate
Comparison rate*
Monthly repayment
Go To Site

Fixed Rates from


Advertised rate


Comparison rate

Variable Rates from


Advertised rate


Comparison rate
  • Offset account.
  • Discounted variable rate.
  • Additional repayments allowed.
  • Large annual fee.
  • No discount on fixed rate.
  • Restricted to package.

Must be over 18 years of age.

Must be a citizen or permanent resident of Australia or New Zealand.

Must meet Heritage Bank’s serviceability criteria.

Must be combined with credit card and transaction account.

Suitable For
  • First Home Buyers
  • Owner-Occupiers
  • Refinancers
  • Investors
  • Line of Credit Loans
  • Estimated upfront fees: $150
  • Discharge fees: $200
  • Ongoing fees: $350 annually

The Heritage Bank Home Advantage Loan has moderate upfront fees but a sizable ongoing annual fee. The credit card and transaction account fees are waived.

There is also a moderate discharge fee and portability fee will apply where applicable.

  • Redraw facility
  • 100% offset account
  • Unlimited extra repayments
  • Weekly repayments
  • Fortnightly repayments
  • Monthly repayments
  • Loan allows split interest rate
About Heritage Bank

Heritage Bank is based in Toowoomba, Queensland and is Australia’s largest member-owned mutual bank. It has offices in every state capital and over 60 branches in South East Queensland.

The bank can be contacted via email, online, in person or by phone, Monday to Saturday.

Compare your product with the big 4 banks, or add more products to compare