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At Heartland Bank, we’re on a mission to improve the lives of Kiwis by making money work for them. We believe banking shouldn’t be hard. We’re always working to integrate innovative new technology that enables you to live and bank the way you want.

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Heartland launches revolving credit home loan at market-leading 2.75% p.a.


Heartland has just launched a new revolving credit home loan with the lowest revolving credit rate on the market. At only 2.75% p.a., it is 0.70 percentage points lower than the next lowest rate, and nearly a whopping 2.00 percentage points lower than the 4.71% p.a. average rate offered by the big banks.

A Heartland Revolving Credit Home Loan is designed to give customers flexible access to funds as and when they need them, with interest only owed on any portion that’s drawn down. Unlike many competitors, Heartland doesn’t charge any monthly fees on the account, and there’s no reducing credit limit.

Since launching, Heartland Home Loans have offered the market-leading fixed and floating mortgage rates, among banks. These rates, including the new revolving credit, are so low because Heartland’s online process means customers can apply and receive approval without needing to make an appointment, visit a broker, or arrange a house call.

“Digitalisation means a low cost of onboarding, which can be passed on to the customer through low rates,” Heartland Group CEO Jeff Greenslade explained. “It also means speed – an answer can be given in minutes, so customers don’t have to endure lengthy processes.”

This new revolving credit product was added to Heartland’s online home loan offering to meet evolving customer needs and provide a market-disrupting low rate.

“Heartland is offering a solution to meet increasing digital demand, which then allows us to help our customers save on their mortgage repayments.”

To be eligible for a Heartland Revolving Credit Home Loan, customers must be refinancing or purchasing a standalone house on a single section in an urban New Zealand centre, have a deposit or equity of at least 20% and intend to live in the home. Customers can keep track of their mortgage balance and statements through the Heartland Mobile App.

Click here for more information, including eligibility criteria and to apply online.

Heartland Bank’s responsible lending criteria, fees, terms and conditions apply. Interest rates are subject to change.

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