Consumer Loan Rates, Fees and Terms
Download the Heartland Consumer Loan and Security Agreement and Guaranteed Future Value Agreement below, or scroll further to read about our rates, fees and terms.
Rates
Our interest rates range from 10.95% p.a. to 13.95% p.a and are fixed for the full period of the loan (unless as amended pursuant to the loan agreement). The rate charged will depend on your personal circumstances, taking into account your income, financial commitments and credit history. To better understand the rate that you qualify for, give our friendly team a call on 0800 85 30 30.Default interest rates
If you do not pay an amount when it is due, then we will charge you interest at a default interest rate of 6% per annum above the then current interest rate.
Fees
Schedule of Standard Fees and Charges Applied to Consumer Loan and Security Contracts
Application / Approval / Account Maintenance
Establishment Fee (Direct) – $249.00
We will charge you this fee for processing a new loan application made directly to us, including approval and acceptance.
Establishment Fee (Intermediary) – Up to $136.00
We will charge you a fee of up to $136.00 for processing a new loan application via an intermediary, including approval and acceptance.
Dealer/Broker/Introducer Fee – Up to $500.00
We may charge you a fee of up to $500.00 which we will pay to any dealer/broker/introducer who refers you to us in relation to the loan.
PPSR Fee – $7.39
We will charge you this fee for registration of our security interest in the goods.
Refund Fee – $3.00
We may charge you this fee if you overpay us and we refund you.
Early Settlement Fee – $7.00
Debited to the account when a loan is settled in full before its final payment date.
Statement Fee – $3.00
We will charge you this fee if we give you (at your request) an additional statement. We do not charge you this fee for providing any six monthly continuing disclosure statements.
Caveat Fee – Actual Cost
If we register a caveat over any of your property at any time, we will charge you caveat registration and release costs.
Mortgage Fee – Actual Cost
If we register a mortgage over your property at any time, we will charge you mortgage registration costs.
Modifications
Variation Fee – $21.00
We will charge you this fee if we agree you can make an unscheduled part prepayment of the loan and we have to change the amounts and dates in the SCHEDULE OF PAYMENTS in these Commercial Terms as a result, or if we agree to release our security interest in the Goods and substitute it with a security interest over other Goods.
Collections
Repossession Warning Notice Fee – $41.00
We will charge you this fee if we have to send you a Repossession Warning Notice. We usually do this 12-15 days after you have breached your loan
agreement (e.g. overdue payments).
Couriered Letter Fee – $3.00
We will charge you this fee if a letter is couriered to you. Letters may be couriered to you if your Loan is in arrears and/or we are having difficulty contacting you about your Loan.
Dishonoured Payment Fee – $3.00
We will charge you this fee if your bank dishonours a payment you make to us.
Repossession Warrant Fee – $89.00
We will charge you this fee if we have to instruct an agent to repossess the goods (for example, due to overdue payments).
Repossession Fee – $341.00
We will charge you this fee if we have to repossess the Goods.
Repossessed Vehicle Sales Fee
We will charge you this fee if we sell the Goods. We select the method of sale in order to obtain the best price reasonably obtainable for the Goods and the fee will differ depending on how the Goods are sold as follows:
If we sell the Goods through our outlet, as a registered motor vehicle trader;
$1,460.00
OR
If we sell the Goods in any other manner.
Actual Cost
Debit card fee – $0.36c plus 1.63% of the payment amount
We will charge you this fee when you make a payment on your Loan by debit card. The fee for each payment will be $0.36c plus 1.63% of the payment amount. This fee will be deducted from your payment when it is made.
Recovery Costs – Actual Cost
We will charge you any costs charged by third parties relating to your loan or this agreement (e.g. repossession agent, legal provider, repairer). We can provide copies of the invoices on request.
Rates
Our interest rates is 8.90%p.a. and is fixed for the full period of the loan (unless as amended pursuant to the loan agreement).Default interest rates
If you do not pay an amount when it is due, then we will charge you interest at a default interest rate of 6% per annum above the then current interest rate.
Fees
Schedule of Standard Fees and Charges Applied to Consumer Loan and Security Contracts.
Application / Approval / Account Maintenance
Establishment Fee (Direct) / $249.00
We will charge you this fee for processing a new loan application made directly to us, including approval and acceptance.
PPSR Fee / $7.39
We will charge you this fee for registration of our security interest in the goods.
Refund Fee / $3.00
We will charge you this fee if you overpay us and we refund you.
Early Settlement Fee / $7.00
Debited to the account when a loan is settled in full before its final payment date.
Statement Fee / $3.00
We will charge you this fee if we give you (at your request) an additional statement. We do not charge you this fee for providing any six monthly continuing disclosure statements.
Caveat Fee / Actual Cost
If we register a caveat over any of your property at any time, we will charge you caveat registration and release costs.
Mortgage Fee / Actual Cost
If we register a mortgage over your property at any time, we will charge you mortgage registration costs.
Modifications
Variation Fee / $21.00
We will charge you this fee if we agree you can make an unscheduled part prepayment of the loan and we have to change the amounts and dates in the SCHEDULE OF PAYMENTS in these Commercial Terms as a result, or if we agree to release our security interest in the Goods and substitute it with a security interest over other Goods.
Collections
Repossession Warning Notice Fee / $41.00
We will charge you this fee if we have to send you a Repossession Warning Notice. We usually do this 12-15 days after you have breached your loan
agreement (e.g. overdue payments).
Couriered Letter Fee / $3.00
We will charge you this fee if a letter is couriered to you. Letters may be couriered to you if your Loan is in arrears and/or we are having difficulty contacting you about your Loan.
Dishonoured Payment Fee / $3.00
We will charge you this fee if your bank dishonours a payment you make to us.
Repossession Warrant Fee / $89.00
We will charge you this fee if we have to instruct an agent to repossess the goods (for example, due to overdue payments).
Repossession Fee / $341.00
We will charge you this fee if we have to repossess the Goods.
Repossessed Vehicle Sales Fee
We will charge you this fee if we sell the Goods. We select the method of sale in order to obtain the best price reasonably obtainable for the Goods and the fee will differ depending on how the Goods are sold as follows:
- If we sell the Goods through our outlet, as a registered motor vehicle trader: $1,460.00
- If we sell the Goods in any other manner: Actual Cost
Debit card fee / $0.36c plus 1.63% of the payment amount
We will charge you this fee when you make a payment on your Loan by debit card. The fee for each payment will be $0.36c plus 1.63% of the payment amount. This fee will be deducted from your payment when it is made.
Recovery Costs / Actual Cost
We will charge you any costs charged by third parties relating to your loan or this agreement (e.g. repossession agent, legal provider, repairer). We can provide copies of the invoices on request.
