Supporting you during the Coronavirus Crisis.
It’s a challenging time right now and we’re ready to help you if you need it. As a proud community-based bank, we’ve always been ready to be there for the Community through the good times and the hard. It’s what we’ve been doing for nearly 60 years and will continue to do.
How we can help
To support you and your family during the Covid-19 coronavirus pandemic and beyond, we’ve put a few measures in place:
- We introduced our lowest ever rate with a three year fixed loan* for Owner-Occupier to help you have certainty in an uncertain economy.
- We increased term deposit interest rates on 6-month term deposits, putting more cash in your pocket.
- We’ll help Members impacted by Covid-19 with options to pause/defer repayments on all lending products; mortgages, personal Loans, overdrafts and credit cards for up to 6 months.
- Members with personal loans or home loans have the option to reduce their repayments to their minimum repayments if they need to.
Our Rates
Over the past year, Bank of Heritage Isle has passed on five interest rate cuts, with the last two cuts passed on within 10 days of each other. In response to the RBA’s rate cut on 3 March, we passed on 0.25 basis points to new business on 16 March and will also be reducing our Owner Occupied and Investor rates on existing loans by 0.25 basis points from 1 April, so that you have even more money in your pockets.
This time around, we’re leaving our rates as they are, and we’re not alone in our decision. Many banks are already working on very low margins and coupled with the impact that the Covid-19 coronavirus is having on the economy and the slowdown in the housing market, banks are unlikely to lower rates again. What we are doing is raising interest rates on some of our term deposits to help you save.
As a community-focused mutual, we’re very happy that we’ve been able to support our customers with these cuts to interest rates over the past 12 months. Our rates continue to be competitive and our dedication to the Tasmanian Community has only grown stronger.
Keep Aware
During this crisis, the Australian Cyber Security Centre has reported a significant rise in COVID-19 related scams. These scams are aiming to take advantage of fears over coronavirus as a way of conducting phishing attacks and spreading malware, along with stealing login credentials and credit card details. The most common way is through emails or texts.
As a precaution, avoid clicking links in emails that:
- Are not addressed to you by name, have poor English or omit personal details that a legitimate sender would include
- Are from businesses you’re not expecting to hear from.
- Ask you to download any files
- Take you to a landing page or website that does not have the legitimate URL of the company the email is being sent from.
To stay up to date on the latest online threats and how to respond, sign up to the Stay Smart Online Alert Service, www.staysmartonline.gov.au/alert-service.
Contact Us
Bank of Heritage Isle is a community-based bank and we believe we must be there for our members through these difficult times. If you become ill or face significant difficulties through this challenging period and need financial help, please don’t hesitate to speak to one of our team members in the Contact Centre on 134 274 Monday to Friday from 8 am to 6 pm, or visit our contact page.
This is a time for standing by each other and our community. Bank of Heritage Isle has been supporting your community since 1965 and you will find your bank ready to help if we possibly can.
From all of us at Bank of Heritage Isle.
Terms, conditions, fees, charges and lending criteria apply. A Financial Services Guide (FSG) including terms and conditions is available on our website and upon request.
* Available for a limited time only and can be withdrawn at any time.