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$3k cashback bonus
Refinance your home loan with us and receive $3,000 cash! Apply to refinance by 31 October 2021, and settle by 22 December 2021 to receive $3,000 cashback! Minimum refinance amount $500,000 with a maximum LVR of 80%. T&Cs apply^

Features & benefits

AMP Bank's Basic Package is a home loan that lets you choose between a fixed or variable interest rate―or a split between the two―with competitive rates, no monthly account management fees and a redraw facility. Having some of your loan at a fixed interest rate means that for the fixed portion you’ll know what your payments are ahead of time. What’s more, you can make up to $10,000 a year in additional repayments with no penalty. And with the flexibility of your variable rate loan portion, you can make unlimited extra repayments.

2.49% pa

Owner Occupied variable rate loan*, LVR ≤ 60%, P&I repayments. Other rates apply for Investment property loans.

2.52% pa

comparison rate**

Choose to split your loan

If you like, you can split your loan between fixed interest and variable rate.

Easy access to your money

Redraw or make additional repayments at any time.                             

Offset Deposit Account

You can choose to set up an Offset Deposit Account with a basic variable rate loan***.

No annual fee

Pay $0 in annual fees.                                                                                            

No monthly fees

Pay $0 in monthly account management fees.                                        

Choose what to repay

You have the option to repay the principal and interest, or interest only.

Redraw advantages

In addition to saving money with no monthly account management fees, the AMP Bank Basic Package lets you redraw extra funds you’ve deposited—whenever you like—with no withdrawal fees.

You can redraw your extra funds using online banking, our mobile apps, BankPhone and BankAssist.

Redraw applies to variable rate loans only.

Owner occupied new business rates & fees

 

Effective 01 October 2021

 

Loan type   Principal & Interest Interest Only
  LVR Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Variable rate loan          
$40,000 & above LVR ≤ 60%  2.49% pa 2.52% pa 2.99% pa 2.76% pa
LVR ≤ 80%  2.59% pa 2.62% pa 2.99% pa 2.76% pa
LVR ≤ 90% + LMI 2.89% pa 2.92% pa n/a n/aConstruction
Construction          
$40,000 and above LVR ≤ 90% + LMI Not applicable Not applicable 2.99% pa 2.94% pa
Reference Rate(iv)   Basic Reference Rate Basic Reference Rate



Effective 21 October 2021

Loan type  Principal and Interest Interest Only
  (LVR <90% + LMI) (LVR ≤80%)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Fixed rate loans        
Basic 1 year fixed rate      2.69% pa 2.90% pa 3.69% pa 2.71% pa
Basic 2 year fixed rate 2.04% pa 2.77% pa 3.59% pa 2.79% pa
Basic 3 year fixed rate 2.34% pa 2.78% pa 3.05% pa 2.73% pa
Basic 5 year fixed rate 2.79% pa 2.88% pa 3.99% pa 3.15% pa

(i) Rates are subject to change. Fees and charges are payable. Terms and conditions apply. Approval is subject to AMP Bank guidelines.
(ii)
Comparison rates have been calculated for a secured loan on a loan amount of $150,000 for a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
(iii) Available for new loans only.
(iv) View a full list of Reference Rates and their values.

Other fees and charges apply. Full details are available in the Fees and charges guide.

 

Investment new business rates & fees

 
Effective 01 October 2021
 
 Loan type    Principal & Interest  Interest Only
  LVR Interest rate(i)
 Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
Variable rate loan          
$40,000 & above LVR < 60%  2.74% pa 2.77% pa 2.99% pa 2.89% pa
LVR < 80% 2.79% pa 2.82% pa 2.99% pa 2.89% pa
LVR < 90%  3.27 % pa 3.30% pa n/a n/a
Construction          
$40,000 and above LVR ≤ 90%  Not applicable Not applicable 2.99% pa 3.29% pa
Reference Rate(iv)   Basic Reference Rate Investment Basic Reference Rate Interest Only Investment


Effective 8 July 2021

Loan type  Principal and Interest Interest Only
  (LVR <90%) (LVR <80%)
  Interest rate(i) Comparison rate(ii) Interest rate(i)      Comparison rate(ii)         
Fixed rate loans        
Basic 1 year fixed rate (Investment) 3.19% pa 3.29% pa 3.09% pa 2.84% pa
Basic 2 year fixed rate (Investment) 2.50% pa 3.17% pa 2.54% pa 2.78% pa
Basic 3 year fixed rate (Investment) 2.60% pa 3.13% pa 2.59% pa 2.77% pa
Basic 5 year fixed rate (Investment) 3.29% pa 3.31% pa 3.49% pa 3.08% pa 

(i) Rates are subject to change. Fees and charges are payable. Terms and conditions apply. Approval is subject to AMP Bank guidelines.
(ii)
Comparison rates have been calculated for a secured loan on a loan amount of $150,000 for a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
(iii) Available for new loans only.
(iv) View a full list of Reference Rates and their values.

Other fees and charges apply. Full details are available in the Fees and charges guide.

 

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Important information

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.

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.

^ Special $3,000 cashback for a limited time (Offer) is only available for new refinance home loan applications received between 1 September 2021 and 31 October 2021 (inclusive) which settle by 22 December 2021.

This Offer is open to Australian residents aged 18 and over who are refinancing an existing home loan they have with another lender to AMP Bank. Conditions, credit criteria, fees, charges, eligibility criteria and exclusions apply.

This Offer is available on Professional Package, AMP First, Essential and Basic Home Loan products only. Min Loan amount $500k and LVR must be equal to or less than 80% (LMI may apply).

This Offer is available for Owner Occupier with Principal & Interest repayments and Residential Investment Loans (Principal and Interest & Interest Only repayments).

The Offer is not available for the refinance, restructure or switches of home loans within AMP Bank.

Limit of one $3,000 cashback payment regardless of the number of applications, applicants, properties or loans involved. The $3,000 cashback cannot be used towards the serviceability of the home loan. The $3,000 cashback is not transferable.

The $3,000 cashback must be paid into an AMP Bank offset account, AMP Bett3r or AMP Access account, and will be paid within 60 days of the settlement date. If you do not have an existing AMP Bank offset account or AMP Access account, one must be opened before the date of settlement.

For multiple home loan applicants, the AMP Bank account needs to be in the name of at least one of the home loan applicants, and the $3,000 cashback will be paid only once to the applicants jointly.

The Offer is current as at 1 October 2021. This Offer may be varied, withdrawn or extended by AMP Bank at any time without notice. Applicants should seek their own tax advice in relation to the receipt of a cashback on settlement.


*Rate is for new loans only and subject to change.

**The comparison rate is calculated for a secured loan on a loan amount of $150,000 over a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

***$6 monthly account management fee is payable on the Offset Deposit Account and AMP Bett3r Offset Account when linked to a Basic Variable Rate Loan.