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People First and Heritage Bank home loan rates

People First and Heritage Bank's lowest advertised variable rate for a home you live in and pay down is 6.24%, if you owe up to 70% of the home’s value. It was read Monday 2 November, and is 0.39 percentage points above the going rate of 5.85% across every lender. Its lowest fixed rate is 6.49%, fixed for one year.

Have a loan with People First and Heritage Bank? Compare your rate

Since the Reserve Bank’s increase on Tuesday 29 September, People First and Heritage Bank has raised its lowest advertised variable rate from 5.99% to 6.24%. The change was first seen Tuesday 13 October. After the Reserve Bank’s increase has every lender.

88 advertised rates across 17 products, published by People First and Heritage Bank under the Consumer Data Right. Last read Monday 2 November, yesterday. No lender pays to be listed.

Where it sits

6.24% People First and Heritage Bank, lowest variable rate if you owe up to 70%
5.85% The going rate
0.39 percentage points above the going rate

The going rate is the lowest rate at least three lenders reach, so one lender's odd price cannot set it.

Both are advertised new-customer rates. A negotiated discount is in neither. Read your own rate against this.

Lowest variable rate, if you owe up to 70%
6.24%
Lowest fixed rate
6.49%, one year
Lowest comparison rate
6.25%
Rates published
88, across 17 products
Last rate move
Monday 12 October
Last read
Monday 2 November

For a home you live in and pay down. The other loan types are in the tables below.

Lenders set a different rate for each LVR band, shown as how much you owe. LVR is what you owe as a share of the home's value.

Owner-occupied, principal and interest

Variable

Fixed

Investment, principal and interest

11 rates

Variable

  • Discount Variable · owe up to 70% · 6.39% (6.40% with fees)
  • Discount Variable · owe up to 70% · 6.39% (6.40% with fees)
  • Discount Variable · owe 70.1–80% · 6.49% (6.49% with fees)
  • Discount Variable · owe 70.1–80% · 6.49% (6.49% with fees)
  • Discount Variable · owe 80.1–90% · 6.89% (6.89% with fees)
  • Discount Variable · owe 80.1–90% · 6.89% (6.89% with fees)
  • Discount Variable · owe up to 95% · 8.99% (8.99% with fees)

Fixed

  • Standard Fixed Rate Home Loans · one year · owe up to 90% · 6.69% (9.28% with fees)
  • Standard Fixed Rate Home Loans · two years · owe up to 90% · 6.74% (9.00% with fees)
  • Standard Fixed Rate Home Loans · three years · owe up to 90% · 6.74% (8.75% with fees)
  • Standard Fixed Rate Home Loans · five years · owe up to 90% · 6.74% (8.32% with fees)

Investment, interest only

11 rates

Variable

  • Discount Variable · owe up to 70% · 6.69% (6.69% with fees)
  • Discount Variable · owe up to 70% · 6.69% (6.69% with fees)
  • Discount Variable · owe 70.1–80% · 6.79% (6.79% with fees)
  • Discount Variable · owe 70.1–80% · 6.79% (6.79% with fees)
  • Discount Variable · owe 80.1–90% · 7.19% (7.19% with fees)
  • Discount Variable · owe 80.1–90% · 7.19% (7.19% with fees)
  • Discount Variable · owe up to 95% · 8.99% (8.99% with fees)

Fixed

  • Standard Fixed Rate Home Loans · one year · owe up to 90% · 6.89% (9.32% with fees)
  • Standard Fixed Rate Home Loans · two years · owe up to 90% · 6.94% (9.06% with fees)
  • Standard Fixed Rate Home Loans · three years · owe up to 90% · 6.94% (8.83% with fees)
  • Standard Fixed Rate Home Loans · five years · owe up to 90% · 6.94% (8.44% with fees)

Restricted to particular groups

ProductWho it is forRate
Fixed Home Loan a particular group only, per its published conditions 0.40%
Fixed Investment Loan a particular group only, per its published conditions 0.40%
Basic Variable Home Loan a particular group only, per its published conditions 1.69%
Basic Variable Home Construction a particular group only, per its published conditions 1.69%
Basic Variable Investment Loan a particular group only, per its published conditions 2.19%
Basic Variable Investment Construction a particular group only, per its published conditions 2.19%
Basic Variable Investment Loan - Interest Only a particular group only, per its published conditions 2.70%
Basic Variable Investment Construction - IO a particular group only, per its published conditions 2.70%
Fixed Investment Loan - Interest Only a particular group only, per its published conditions 6.89%
Staff Home Loan a particular group only, per its published conditions 8.18%
Home Build Access (HBA) Deposit Assist Loan a particular group only, per its published conditions 9.01%
Home Build Access (HBA) Low Deposit a particular group only, per its published conditions 9.01%

The data says a product is restricted. It never says whether you would get it. On the comparison every one of these can be put back with a click, and every figure is worked out again.

What changed

People First and Heritage Bank last moved a rate on Monday 12 October. Every rate is read each morning and has come back the same since.

Every lender that publishes rates, and every rate move since capture began.

Beside it

Of 93 lenders with a variable rate anyone could take for a home you live in and pay down, 38 publish a lower one than People First and Heritage Bank's 6.24%. The nearest either side:

Does this look wrong? or could it be better

Two different things go wrong here and they are fixed in different places. If a rate on this page does not match what People First and Heritage Bank told you, it is usually one of these.

The published data is wrong

People First and Heritage Bank publishes these rates itself, under the Consumer Data Right. Nobody here types them in and nothing here can correct them at the source. If the feed is wrong, every comparison site reading it is wrong in the same way. Reports about a data holder's feed go to the Consumer Data Right, and published-data quality is on the ACCC's enforcement list.

Everything identifying the feed is filled in below. The one part left is what you saw.

Consumer Data Right — Product Reference Data quality

Data holder brand: People First and Heritage Bank
ABN: 11087651125
Product Reference Data endpoint: https://public.openbanking.peoplefirstbank.com.au
Data read from that endpoint on: Sunday 1 November
Rate lines published at that time: 88

What appears to be wrong:
[describe what you checked, and what the published data says]

This data is published under the Product Reference Data standard and is
available publicly, without authentication or a consumer consent.
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The form is run by the Consumer Data Right, not by this site. Nothing you type here is sent anywhere — the text above is yours to copy.

This page reads it wrongly

The rate is published correctly and this page has misread it. A band shown against the wrong loan type, a fee counted twice, a product that should be marked restricted and is not: that one is mine. Tell me and I will fix it, and say which lender so I can find the row.

Something is missing

A figure this page should show and does not, or a lender that should be here and is not. Tell me through the feedback box. The data behind every page here is free to download if you would rather check it yourself first.

Free, and not advice. It knows only what the lender publishes, not what you could negotiate. A licensed broker does this for a living. Who made this. What this site collects.

More from the data

Building something with this? There is an API, and the data is free.

This morning: the market, variable rates, fixed rates and what moved this week.

Found in the data: what lenders charge above 80%, the rate a fixed loan rolls onto and what a comparison rate adds. Also what an offset costs, and what investors pay on top.