Interest rate changes effective 1 February 2022

1 February 2022

Heritage Finance Holdings Corporation is making changes to mortgage, term deposit and business lending interest rates effective Tuesday 1 February 2022.

The rate changes are as follows:

MORTGAGES

• Decrease owner occupier Home Advantage ≤80% LVR interest rate across all tiers by 0.05-0.15%
• Decrease owner occupier Discount Variable ≤80% LVR interest rate across both tiers by 0.04-0.09%
• Increase owner occupier standard and Home Advantage 2-year Fixed Rate interest rate by 0.20% from 2.39% to 2.59%
• Increase owner occupier standard and Home Advantage 3 and 5-year Fixed Rate interest rates by 0.40%
• Decrease investor Home Advantage principal and interest, and interest only, ≤80% LVR interest rate across all tiers by 0.10-0.15%
• Decrease investor Discount Variable principal and interest, and interest only, ≤80% LVR interest rate across both tiers by 0.06-0.11%
• Increase all investor standard and Home Advantage Fixed Rate principal and interest, and interest only, interest rates by 0.10-0.40%

TERM DEPOSITS

• Decrease 3-month term deposit interest rate by 0.05% from 0.30% to 0.25%
• Increase 8-month term deposit interest rate by 0.28% from 0.30% to 0.58%
• Decrease 9-month term deposit interest rate by 0.25% from 0.55% to 0.30%
• Increase 24-month term deposit interest rate by 0.18% from 0.70% to 0.88%
• Increase 36, 48 and 60-month term deposit interest rates by 0.08% from 0.80% to 0.88%

BUSINESS LENDING

• Increase Fully Drawn Loan 3-5 year fixed rates by between 0.20-0.50%
• Increase Self-Managed Super Fund Loan 3-5 year fixed rates by between 0.20-0.50%

These changes have been made to maintain the best interests of our customers overall. Our interest rate changes are implemented to ensure good pricing benefits for depositors and borrowers.

As a customer-owned bank, Heritage Finance Holdings puts the best interest of members first. Unlike 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. None of our profits are paid out to shareholders like the big listed banks.

You can find more information on our rates available at our interest rates page.