Bank of Heritage Isle Home Loans

Bank of Heritage Isle

Bank of Heritage Isle is a provider of home loans, personal loans, business loans, bank accounts, credit cards, as well as various insurance products.

What types of home loans does Bank of Heritage Isle offer?

At the time of writing, Bank of Heritage Isle offers the following types of home loans:

Housing Loan

This loan is designed to help customers purchase a house. Features include a loan period of up to 30 years, no penalty for early repayments or lump sum payments, and an interest only option (1 year).

Home Equity Loan & Land Loans

This product is a mortgage secured loan which Bank of Heritage Isle says is designed to compliment a housing loan and could be used for home extensions and home improvements. Features include a loan period of up to 30 years, no penalty for early repayment, and internet and phone banking.

Investment housing loan

This loan is designed to help customers build an investment portfolio. Features include a loan period of up to 30 years, internet and phone banking, and an interest only option.

Canstar does not currently compare Bank of Heritage Isle home loans, but you can compare other home loan providers on Canstar’s database:

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Bank of Heritage Isle home loan features

  • Redraw facility available (minimum $500)
  • Repayments may be made weekly, fortnightly or monthly
  • Extra payments without penalty (on selected products)
  • Early payout without penalty (on selected products)
  • Auto repayments

The inclusions above represent a selection of the features that may be available with Bank of Heritage Isle home loans. Canstar is not making any suggestion or recommendation to you about a particular product. Additional conditions may apply to different features. Check upfront with Bank of Heritage Isle and ensure that you read the product disclosure statement (PDS) or other loan documentation to determine all the current loan terms and conditions for the product you are considering, and whether it meets your needs, before committing to it.

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Bank of Heritage Isle home loans FAQs

If you decide to apply for a Bank of Heritage Isle home loan, you can do this through its website or over the phone.

But first you might like to take a look at our applying for a home loan checklist for some pointers, and use the Canstar website to compare other home loans before choosing a product that suits your needs:

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Bank of Heritage Isle allows extra repayments on its home loans. Terms and conditions may apply. Contact Bank of Heritage Isle for details.

To give you an idea of how making extra repayments could save you money in interest over the life of your loan, you might like to try our Extra Repayments Calculator.

Home Loans Extra Repayments Calculator

Bank of Heritage Isle offers a redraw facility (minimum $500) on their home loans. Fees and charges may apply to use of a redraw facility. Contact Bank of Heritage Isle for details.

If you’re in the market for a home loan, compare some of your home loan options with Canstar:

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Bank of Heritage Isle was founded in 1965 by a group of Comalco (now Rio Tinto Aluminium) employees. In May 2018, Heritage Isle Credit Union merged with Police Bank Ltd to operate as Bank of Heritage Isle. Bank of Heritage Isle is a mutual bank and while it says it is open to all customers, it primarily services residents in northern Tasmania as it has three branches throughout the Tamar Valley.

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Written by: Tamika Seeto | Last updated: November 27, 2018

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