Why are the Basic and
Select Home Loans being closed?
As part of our commitment to simplifying our home loan range and making things easier for our customers, AMP is closing the Basic and Select Home Loan products to new customers from 31 August 2025. This allows us to focus on our core home loan products and enhance our service to you.
When will these changes happen?
Basic and Select Home Loans will be closed to new customers from 31 August 2025. If you are an existing customer, your loan continues as normal.
Will this change affect my current
home loan?
No, there is no change to your existing home loan. Your account number, interest rate, repayment arrangements, and any linked offset accounts (if applicable) will all remain the same. No action is required from you.
Can I still access my home loan account online?
Yes, you can continue to access your home loan account as usual through My AMP. There are no changes to your login details or online services.
Can I make extra repayments or pay out my loan early?
Yes, you can continue to make extra repayments or pay out your loan early, just as you do now. Your loan terms and conditions remain unchanged.
Can I still switch to a fixed or interest only loan and remain on my current product?
Yes, you can switch your Basic or Select Home Loan to a fixed or interest only loan if you wish. Please contact us for more details about your options.
What changes will require a product switch for Basic package and Select package home loans?
Here are some examples of changes to your loan that would require switching to one of our current home loan products:
- Increasing your home loan
- Opening a new split
- Extending your loan term
- Reducing total loan limit
- Decreasing remaining loan term
- Substitution of security
- Partial discharge
- Opening a new master limit
If a product switch is required, we will guide you through the process and ensure that you receive a product that suits your needs.
What home loan options are available
if I want to switch?
Should you need to move to a different product in the future, you’ll have access to our current range of home loans, including the:
Any switch will be managed to ensure a smooth transition, and fees that would usually apply will be waived.
Will I be charged any fees if I need to switch products?
No, if you move from a Basic or Select Home Loan to another AMP home loan product as a result of these changes, any variation or product switch fees will be waived. We’ll also ensure you’re not disadvantaged with higher rates or extra fees.
Will my interest rate change if I switch products?
If you choose to switch to a different AMP home loan, you’ll receive the current new business rate for that product, based on your loan details—such as purpose and repayment type—at the time of switching.
If your current rate is lower than the new business rate for the same product, we will ensure your rate remains the same. We’ll discuss the available rates and options with you so you can make an informed decision. Rest assured, you will only be positively impacted by any change.
Will my home loan be automatically moved to a new product?
No, we will not move your loan to a new product without your consent. You’ll remain on your existing Basic or Select Home Loan unless you request a change or certain loan variations require it.
How do I request to switch to a different home loan product?
If, after reviewing our current range of home loan products, you feel that switching might better suit your circumstances, you’re welcome to request a change at any time. Simply complete the Loan Change Request Form (PDF) and return it to us either by email at loanservicingenquiries@amp.com.au or by post to:
AMP Bank
Reply Paid 79702
PARRAMATTA NSW 2124
You can contact us at any time if you’d like to discuss switching products, if you have any questions or need help with the form. Please send us a secure message via My AMP [hyperlink] Or by calling 13 30 30 (from within Australia) or +61 2 8364 6000 (from overseas). Our team is available Monday to Friday, 8am – 8pm, and weekends 9am – 5pm (AEST).
We’re here to help you find the best solution for your needs.
What if my circumstances change and I need financial assistance?
If you are experiencing financial difficulty or need support, please contact us as soon as possible. We’re here to help and can discuss the options available to you.
Where can I get more information or ask questions?
If you have any questions or would like more information, please send a secure message via My AMP [hyperlink to login page]. Or you can contact AMP Bank Customer Service by calling 13 30 30 (from within Australia) or +61 2 8364 6000 (from overseas). Our team is available Monday to Friday, 8am – 8pm, and weekends 9am – 5pm (AEST).
Other help and support
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Customer care
We know that you might need additional help, around products, deceased estates, legal documentation or customer care. Please get in touch with us.
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Needing financial support?
When life throws unexpected challenges your way, your financial situation can change dramatically. In difficult times, we'll support you and help you get back on track.
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Feedback & complaints
If you are unhappy with our products or service, we want to know about it. We treat every complaint seriously and aim to resolve your concerns as quickly as possible.
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Ways to contact us
Are you overseas? See our overseas travel support.
What you need to know
The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.
It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.
Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.
This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
A target market determination for these products is available on our TMD page.