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Heartland Expands Home Loans Offering With Revolving Credit 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.

For more information, including eligibility criteria, and to apply online, go to

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

About Heartland

Heartland Bank Limited (Heartland Bank) is part of Heartland Group Holdings Limited (Heartland), a financial services group with operations in New Zealand and Australia. Heartland is listed on the NZX Main Board and ASX (NZX/ASX: HGH) with more than 12,000 shareholders.

Heartland Bank is a 100% New Zealand operated and managed bank that is listed on the NZX Debt Market (NZX: HBL). Heartland Bank offers savings and investment products, is the market leader in reverse mortgages in New Zealand and provides business, rural and motor vehicle finance.

Heartland is proud of its Kiwi heritage which stretches back to 1875. It aims to provide a first-class customer experience whether online, over the phone or in person. Heartland is currently focused on channels to deliver its innovative banking products, with an emphasis on digital platforms designed to deliver a fast and simple customer experience.

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