RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%  
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Example Interest Rates: Home Loan Variable: 5.69% (5.89%*) • Home Loan Fixed: 5.48% (6.24%*) • Fixed: 5.48% (6.24%*) • Variable: 5.69% (5.89%*) • Investment IO: 5.74% (6.40%*) • Investment PI: 5.58% (6.62%*)

  Fully Drawn Business Loan - Fixed Residential Security Interest Only

This loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements.
Category: Business Loans  Last Updated March 6, 2024  Effective July 5, 2024

 General Lending Rates

Rates listed below are for a FIXED Interest Only product. Additional Information 3 years fixed - Residential Security
Interest Rate
5.99% PA
Comparison Rate
0.00%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.

Product Variations
Product rates and conditions will usually vary based on the LVR and other conditions..
  , FIXED, 6.29%
  • Lending Rate Type: Fixed
  • Interest Rate: 6.29%, Comparison Rate 0.00%
  • Repayment Type: Interest Only
  • Loan Purpose:
  , FIXED, 5.99%
  • Lending Rate Type: Fixed
  • Interest Rate: 5.99%, Comparison Rate 0.00%
  • Repayment Type: Interest Only
  • Loan Purpose:
  , FIXED, 5.99%
  • Lending Rate Type: Fixed
  • Interest Rate: 5.99%, Comparison Rate 0.00%
  • Repayment Type: Interest Only
  • Loan Purpose:
  , FIXED, 5.99%
  • Lending Rate Type: Fixed
  • Interest Rate: 5.99%, Comparison Rate 0.00%
  • Repayment Type: Interest Only
  • Loan Purpose:

 Product Features

  • Other Additional Information: Repayment term matched to the cash flow of the business
  • Redraw Additional Information: Redraw available by arrangement

 Product Eligibility

  • Business

 Bank Fees and Charges

  • Application Fee (Upfront), Amount: 400.00.
  • Monthly Administration Fee (Periodic), Amount: 20.00.
  • Loan Finalisation Fee (Exit), Amount: 300.00.
  • Default Fee (Event), Amount: 30.00. Additional Information: Will be charged monthly until no longer in default
  • Approval Fee (Event), Amount: 100.00.
  • Redraw Administration Fee (Event), Amount: 20.00. Additional Information: Once your facility is fully drawn and approval to redraw is given. Not applicable to online redraw
  • Consent Fee (Event), Amount: 200.00. Additional Information: Per Consent if required to Consent to the registration of a Land Titles document over the security property to a third party
  • Production Fee (Event), Amount: 100.00. Additional Information: If Heritage is required to produce a security document to the State's Land Titles Authority or agency
  • Partial Release Fee (Event), Amount: 200.00. Additional Information: $200.00 per security
  • Capital Reduction Fee (Event), Amount: 75.00.
  • Redocumentation Fee (Event), Amount: 450.00. Additional Information: If you apply to change the specific details of your facility or substitute securities
  • Heritage Cheque Fee (Event), Amount: 10.00. Additional Information: For each cheque drawn by Heritage on itself which is issued from your facility
  • Telegraphic Transfer Fee (Event), Amount: 30.00. Additional Information: If a telegraphic transfer is made from your facility account via RTGS within Australia
  • Rtgs Deposit Fee (Event), Amount: 10.00. Additional Information: If a payment/transfer to your facility account via RTGS occurs
  • Transaction Listing Fee (Event), Amount: 5.00. Additional Information: When a transaction listing between two given dates is issued on your facility account. $5.00 per page
  • Additional Statement Fee (Event), Amount: 1.00. Additional Information: For the second and each subsequent statement issued during a month, or when a statement is issued on your facility account at your request at any time before the next statement issuing date: $1.00 per statement
  • Direct Debit Dishonour Fee (Event), Amount: 10.00. Additional Information: If a direct debit authorised to be made from or to your account is dishonoured.
  • Sms Alerts (Event), Amount: 0.25. Additional Information: $0.25 for each SMS Alert delivered by SMS to your mobile phone.
  • Overseas Cheque Deposit Fee (Event), Amount: 10.00. Additional Information: If a cheque in foreign currency is deposited to your facility account (note: Heritage does not always accept these deposits)
  • Document/record Search Fee (Event), Amount: 12.00. Additional Information: For record searches, traces, supplying copy of details of transactions (including Visa card transaction slips) on your facility account (refunded if fee was charged for transaction-specific information and the transaction was incorrectly debited). $12.00 per item.
  • Audit Certificate Fee (Event), Amount: 15.00. Additional Information: $15.00 per certificate
  • Heritage On-line Business Internet Banking Security Token Fee (Variable), Amount: 50.00. Additional Information: $50.00 per token each 3 years (including replacement tokens).
  • Heritage On-line Business Internet Banking Account Reconciliation (Variable), Amount: 0.05. Additional Information: $0.05 plus GST per entry.
  • Cash And Coin Handling Fee (withdrawals) (Variable), Amount: Not Listed.. Additional Information: If a cash withdrawal of over $2,000 is made from your facility account. $1.00 per $1,000 or part of $1,000 exceeding $2,000.
  • Cash And Coin Handling Fee (deposits) (Variable), Amount: Not Listed.. Additional Information: If a cash deposit is made to your facility account at a Heritage branch or mini-branch of coins which have not been correctly bagged and counted. 2% of value.
  • Break Fee (Variable), Amount: Not Listed.. Additional Information: Calculating the interest amount that Heritage would have received over the remaining fixed rate period of your Loan less the interest amount Heritage will receive on a comparable loan for the remaining fixed rate period at the date the Credit Contract is paid out.

 Limitations & Restrictions (Constraints)

  • Min Limit of 20000.00 Additional Information: Preferred minimum amount

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