Finty
Heritage

Heritage Standard Personal Loan Fixed

Fixed rate

A flexible loan that can be used for holidays, renovations, debt consolidation or a new toy to play with.

Written byDavid Boyd
Interest rate a year, from
8.99%
Comparison rate, from
9.35%
Establishment fee
$250
Monthly fee
None
Borrow
$5,000 to $50,000

Monthly repayment

$20,000 over 1 year

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What it would cost

At the lowest published rate of 8.99%. The rate you are offered depends on your circumstances, and the establishment fee is not included.

Monthly repayment
$1,749
Total repayments
$20,987
Interest
$987

Loan details

Rates

Interest rate (a year)
8.99%
Comparison rate (a year)
9.35%
Rate type
Fixed
Security
Not published

Limits and fees

Loan amount
$5,000 to $50,000
Loan term
Up to 1 year
Establishment fee
$250
Monthly fee
None

How it compares

Against the other personal loans we compare. Typical means the middle half of them.

Comparison rate

9.35%

From 9.35%. A typical loan starts at 10.14%.

Setup fee

$250

A typical setup fee is $150.

Monthly fee

None

A typical monthly fee is $8.

Most you can borrow

$50,000

Typically you can borrow up to $60,000.

Longest term

1 year

7 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.99%, so the rate you see is the rate you get.
  • No monthly fee. The cost doesn't creep up the longer you take to repay.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A higher setup fee. $250, above the typical $150. It's usually added to the loan, so you pay interest on it too.
  • A $100 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Personal loans from other lenders that start at a similar comparison rate.