Interest rate announcements

Stay informed on the latest interest rate changes at Heritage Bank. On this page you'll find our most recent interest rate changes for existing Heritage members, across our accounts, personal loan, credit card, home loan and business loan products.

Home Loans

Effective 17 August 2022

Heritage Bank will increase interest rates on its variable home loans by 0.50%, following the Reserve Bank of Australia’s (RBA) decision to increase the Official Cash Rate by the same amount. With the increase to the cash rate adding to the growing pressure on Heritage’s funding costs, it has become necessary to pass on the rate rise.

  • Increase all Owner Occupied Variable interest rates by 0.50%
  • Increase all Investor Variable interest rates by 0.50%
    *Refer to rate sheets for adjustments to discounts margins applicable to new loans

View our rates for new home loans (PDF) or rates for home loan switches, refixes and products withdrawn from sale (PDF).

Business Loans

Effective 17 August 2022

  • Increase all variable Business Banking loan interest rates by 0.50%
  • Increase all Business Credit Card interest rates by 0.50%

View the Business Loan Interest Rates Sheet (PDF).


Effective 17 August 2022

Term Deposits

  • Increase 3 to 60-month term deposit interest rate by 0.25-0.80%

Farm Management Deposits

  • Increase Farm Management Deposit At Call interest rates by 0.50% 
  • Increase Farm Management Deposit Fixed Term interest rates by 0.25%


  • Increase Pension Plus interest rates by 0.35%
  • Increase Online Saver interest rate by 0.50% from 0.85% to 1.35%
  • Increase Secure Super interest rate by 0.50% from 1.85% to 2.35%
  • Increase Body Corporate $250,000+ interest rates by 0.50% from 0.90% to 1.40%
  • Increase Community Saver tiered interest rates by 0.50%

View our current account interest rates.

Credit Cards

Effective 17 August 2022

  • Increase Platinum Credit Card interest rate by 0.50% from 17.49% to 17.99% for purchases and from 19.49% to 19.99%  for cash advances
  • Increase Classic Credit Card interest rate by 0.50% from 17.49% to 17.99% for purchases and from 19.49% to 19.99% for cash advances
  • Increase Gold Low Rate Card interest rate by 0.50% from 10.80% to 11.30% for both purchases and cash advances
Personal Loans

No recent Personal Loan interest rate changes. Go to Personal Loans.


Why does Heritage make interest rate changes?

At Heritage, what motivates us isn’t how much profit we can make, it’s about making people’s lives better. As a customer-owned bank, none of our profits are paid out to shareholders like the big listed banks. We only aim to make a modest profit each year and then reinvest those funds into providing better products and services to all members. 

As promised in our Member Charter, we're committed to providing products, services and pricing that meet our member's banking needs in a sustainable way. That's why pricing changes happen across all our products - to maintain the interests for both our depositors and borrowers, and ensure the sustainability of Heritage Bank.

How do I calculate what this interest rate change means for me?

When an interest rate changes on your Heritage Bank loan, your new repayment will be calculated and can be viewed in your account details online. If you'd like to calculate what an interest rate change means for your finances now, we have two online calculators that can help you.

Where do I view my current interest rate?

For Home Loan, Business Loan, Personal Loan and Credit Card accounts, your current interest rate is available when viewing your account details in Heritage Online on a mobile browser or desktop computer. If you have a term deposit, you can view your interest rate in View Term Deposit Details.

For savings and transaction account interest rates, current interest rates are available on our account interest rates page online.

What is a basis point?

When it comes to interest rate changes, you may have heard the term basis point used. Basis points (bps) refers to a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01%, or 0.0001. It is used to denote the percentage change in a deposit or loan product. For example, an increase of 0.50% on your home loan interest rates, is an increase of 50 basis points.

What do I do if I'm having difficulty meeting my financial commitments?

We understand that life can take unexpected turns. For this reason, we have developed policies and processes to assist members with their mortgage loans, personal loans and credit cards in times of financial hardship. If you are having difficulty meeting your financial commitments please contact our Member Assist department. If you'd like to talk to one of our team for a general financial health check, call our contact centre on 13 14 22 or talk to your local branch.

Research tools
Home loans
Personal loans
Business loans
Home loan extra repayment calculator
Savings calculator
Budget planner

We're committed to helping our customers through good times, and times of hardship, with genuine service and support. 

If you have any questions and would like to talk to us today, tap here for live assistance.