Heartland Bank Review for Potential Borrowers

Heartland Bank Review for Potential Borrowers

This review of Heartland Bank will help you gain a better understanding of Heartland Bank. This Heartland Bank review will also detail the products available through heartland.co.nz and the requirements that Heartland Bank asks of all potential borrowers. If you are looking to receive a loan for your personal or professional endeavors, Heartland Bank is well-equipped to help you get funding from a detailed list of lenders.

Heartland Bank Review – Basic Figures for 2022

Website

https://www.heartland.co.nz/

Logo

Loan Amount

$10,000 – $100,000

Loan Term

Up to 5 years (secured and unsecured loans)

Unsecured Loans?

Unsecured Loans are Available

Lender Requirements

  • a registered business, partnership, sole trader or a simple trust.
  • NZ citizen or permanent resident.
  • have valid ID and proof of my address.
  • business is located in New Zealand.
  • credit looks good – have never been bankrupt and haven’t had any unpaid defaults in the past five years.

Response Time

24H

Easy to Apply

Yes, fully online

Minimal Interest Rates

Interest rates start from 11.00% p.a.

Credibility & Company Story

Traditionally a building society will take better care of you, whilst a bank offers the best rates. With our roots in the past and our eyes firmly fixed on the future, you’ll find we’re the perfect mix of both. Heartland starts life as the Ashburton Permanent Building & Investment Society which subsequently merges with SMC Building Society and Loan & Building Society to become CBS Canterbury. Southern Cross (later to become part of Heartland) opens in Auckland offering its North Island customers a range of investments, savings, loans and day to day accounts.

At the start of the 2011, Southern Cross, CBS Canterbury and MARAC merge to create the business that became Heartland Building Society. On 31 August 2011, Heartland acquires PGG Wrightson Finance, bringing significant impetus to Heartland’s rural strategy and diversity to Heartland’s asset base. 

Heartland is granted its bank registration by the Reserve Bank of New Zealand in 2012, achieving its goal of becoming the only New Zealand operated, controlled and managed banking group, with a parent company (Heartland New Zealand Limited) listed on the NZX Main Board – the home of New Zealand’s equities market and best known financial brands.

On 31 October 2018, Heartland completed a corporate restructure which resulted in Heartland Bank Limited becoming a wholly-owned subsidiary of a new listed parent company, Heartland Group Holdings Limited. On 1 November 2018, Heartland Group Holdings Limited listed on the NZX Main Board and the ASX under a foreign exempt listing under the ticker code HGH.

Credibility Score:
5/5
Expedited Application to Heartland Bank

What Products Do Heartland Bank Offer?

  • SAVINGS AND DEPOSITS – Save in a way that suits you. Want great returns on your hard-earned savings? Choose the right product for your savings needs, and we’ll help you make the most of your money.
  • HOME LOANS – Lock in the lowest fixed rates in Aotearoa. Thinking about refinancing your home loan? Apply online and get a decision within minutes of submitting your application.
  • BUSINESS LOANS – Give your business a boost. We believe that banking for your business should be easy. Whether you’re looking to purchase an asset or just need a cash injection, Heartland offers a number of business finance options that could work for you.
  • REVERSE MORTGAGES – Freedom in retirement. We are New Zealand’s leading reverse mortgage provider. Since 2004, we have helped more than 20,000 Kiwis enjoy more freedom in retirement.

  • CAR LOANS – Let’s get you behind the wheel. Whether you’ve found the car of your dreams or are just starting your search, a Heartland Car Loan could help get you on the road.

  • RURAL LOANS – Finance that’s farm fit. We know finance and we know farmers. Our team is made up of like-minded people who have a real interest in the land and the farming community, so we’re perfectly placed to help your business grow.
Flexibility Score:
5/5
Expedited Application to Heartland Bank

Heartland Bank Loan Compatibility

Boost your business with terms up to 5 years and unsecured lending up to $100,000.

  • Upgrade or buy equipment, machinery or a vehicle
  • Buy a business or expand yours
  • Flexible options to increase or decrease your monthly repayment to suit your needs
Compatibility Score:
5/5
Expedited Application to Heartland Bank


Heartland Bank Pricing & Rates

The minimum Heartland Term Loan amount is $10,000 (except Professional Fee Finance, which offers a minimum loan amount of $5000), and there is no maximum. However, we will need additional information and partial security for any amount above $100,000. Any amount above $250,000 will require full security.

Interest rates start from 11.00% p.a. and depend on a range of factors. Once you have completed the online application, one of our lending specialists will discuss interest rates and repayments with you.

Heartland offers loan terms of up to five years with regular principal and interest repayments, except Professional Fee Finance which offers loan terms for 6-12 months only.

 

Compatibility Score:
5/5
Expedited Application to Heartland Bank
Heartland Bank Review Summary

Name: Heartland Bank

Summary

Heartland Bank is a brick-and-mortar bank, with 18 total branches in Ohio. It also offers access to mobile and web apps for a straightforward mobile-banking experience.

Heartland Bank gets fairly high praise from users for its online presence: the Heartland Bank mobile app has been given a 3.9 out of 5 (out of 21 ratings on iOS and Android) compared to the national average of 3.8. You can utilize Heartland Bank’s mobile app to manage your accounts by checking account balances, transferring funds as well as accessing customer service. Heartland Bank gets a superb consumer satisfaction score due to relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall
95%
95%
  • Credibility - 95%
    95%
  • Client Reviews - 95%
    95%
  • Website - 96%
    96%
  • Compatibility - 94%
    94%

Pros

  • Low fees
  • Wide variety of account choices

Cons

  • Less competitive rates
  • Limited access to customer service