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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 farm term loan with self-serve online application

Challenger bank Heartland has added another product to its growing list of digital offerings – this time for the rural market.

The term loan, called Sheep & Beef Direct, is designed for established farmers who are looking to buy or refinance a sheep or beef farm. In launching this product, Heartland is testing the appetite for a low-touch, online application that farmers can complete whenever and wherever – and they’ll be given an initial decision then and there.

Sheep & Beef Direct is the most recent of Heartland’s digital lending offerings. Joining the likes of Heartland’s Open for Business loans, car loans and home loans, it offers an online application which can be completed in minutes.

“Not all Kiwi farmers are able to spend hours on the phone or schedule multiple meetings with a relationship manager,” explained Heartland Bank CEO Chris Flood. “Sheep & Beef Direct is intended to relieve some of the pressure on those farmers who need to arrange finance for the farm, but struggle to find the time to do so.”

The launch of this product comes at a time when rural lending is on its fastest downward trend since 1992, according to data from the Reserve Bank of New Zealand. Heartland, however, has identified an opportunity in the market for an online application process.

“With rural lending on a steady decline, customers may be looking into other options that better meet their needs,” said Flood. “We believe Sheep & Beef Direct is a time- and cost-effective alternative for busy farmers.”

Sheep & Beef Direct offers up to 5-year interest-only or 25-year terms with revolving credit options. The interest rate is capped at 4.20% p.a. for 12 months, and there are no set-up fees or hidden costs.

In addition to Sheep & Beef Direct, Heartland also offers livestock finance, term finance and farm transition loans. View Heartland’s full suite of rural products:

Find out more about Sheep & Beef Direct and apply at

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

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