Features & benefits

AMP Bank’s Classic Club lets you customise a home loan with features that suit you. You could be eligible for introductory interest discounts and can combine our fixed rate loan, variable rate loan and line of credit loan to create a single home loan that best meets your home loan needs. AMP Bank Classic Club includes a transaction account linked to your home loan to give you the benefit of a 100% mortgage offset to help you own your home sooner.

5.13% pa

Owner Occupied variable rate loan*, LVR ≤ 90% + LMI, & P&I repayments. Other rates apply for Investment property loans.

5.18% pa

comparison rate**

The choice to split your loan

If you like, you can split your loan between fixed interest, variable rate, or line of credit on home loans over $100,000.

Up to 10 sub-accounts

You can choose to split your loan with up to 10 sub-accounts available ($10,000 minimum each).                       

Link your transaction account

You have the option to link other bank accounts and facilities to your home loan.                                                       

Your choice of features

Freedom to choose the features you want from the AMP Bank range of home loans.

100% loan offset account

Available to if you choose the standard variable rate loan.                     

The ability to consolidate debts

Ability to consolidate debts into one easy to manage line of credit.                   

Redraw advantages

  • Classic Club lets you redraw any extra funds you deposit whenever you like with no Withdrawal fees on our standard variable rate loan and standard line of credit. It is not available with Classic fixed rate (or any fixed rate loans).
  • Making additional repayments is a great way to reduce your outstanding balance, which reduces the amount of interest you pay. Over the long haul, this can make a big difference to the money you save and can cut years off your loan, so you can own your home sooner.
  • Redraw can be accessed via My AMP, BankPhone, BankAssist, an access card and cheque book (line of credit only). Please refer to the Home loan fees and charges guide for costs associated with each access method.

Owner occupied new business rates & fees

Effective 11 October 2019

Loan type   Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
Variable rate loan
Introductory Classic variable rate loan(iii) 4.13% pa 5.08% pa 4.73% pa 5.14% pa
Classic variable rate loan 5.13% pa 5.18% pa 5.73% pa 5.42% pa
Reference Rate(iv) Standard Reference Rate Standard Reference Rate
Interest Only
Line of credit
Classic line of credit 5.93% pa Not applicable
Reference Rate(iv) Line Of Credit Reference Rate Line of Credit Reference Rate
Interest Only


Effective 29 May 2017

Loan type    Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
Fixed rates
1 year fixed rate 4.60% pa 5.13% pa 4.90% pa 5.16% pa
2 year fixed rate 4.60% pa 5.08% pa 4.90% pa 5.14% pa
3 year fixed rate 4.60% pa 5.04% pa 4.90% pa 5.12% pa
5 year fixed rate 5.04% pa 5.14% pa 5.34% pa 5.26% pa


Effective 16 February 2017

Line of credit (credit balances)  Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
From $0 to less than $20,000 0.00% pa Not applicable 0.00% pa Not applicable
From $20,000 and over 0.25% pa Not applicable 0.25% pa Not applicable


Cheque book available on Lines of credit only. Credit interest applies to all Lines of credit. The Settlement fee of $349 applies to all home loans listed above.

(i) Rates are subject to change.
(ii) 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.
(iii) Available for new loans with a single, owner occupied security only. Approval is subject to AMP Bank guidelines. Other fees and charges apply. Full details are available in the Fees and charges guide. Terms and conditions are available on request.
(iv) View a full list of Reference Rates and their values.

Investment new business rates & fees

Effective 11 October 2019

Loan type  Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
Variable rate loan (Investment)
(LVR <80% including LMI)
Introductory Classic variable rate loan(iii) 5.19% pa 6.14% pa 5.24% pa 6.14% pa
Classic variable rate loan 6.19% pa 6.24% pa 6.24% pa 6.26% pa
Reference Rate(iv) Standard Reference Rate
Investment
Standard Reference Rate
Interest Only Investment
Line of credit (Investment)
(LVR <80% including LMI)
Classic line of credit 6.44% pa Not applicable
  Line Of Credit Reference Rate
Investment
Line Of Credit Reference Rate
Interest Only Investment


Effective 29 May 2017

Loan type  Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii)  Interest rate(i) Comparison rate(ii)
Fixed rate loan (investment)
(LVR <80% including LMI)
1 year fixed rate 5.17% pa 6.14% pa 5.37% pa 6.16% pa
2 year fixed rate 5.17% pa 6.04% pa 5.37% pa 6.08% pa
3 year fixed rate 5.17% pa 5.95% pa 5.37% pa 6.01% pa
5 year fixed rate 5.61% pa 5.99% pa 5.81% pa 6.08% pa


Effective 16 February 2017

Line of credit (credit balances)  Principal and Interest  Interest Only
   Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
From $0 to less than $20,000 0.00% pa Not applicable 0.00% pa Not applicable
From $20,000 and over 0.25% pa Not applicable 0.25% pa Not applicable


Cheque book available on Lines of credit only. Credit interest applies to all Lines of credit. The Settlement fee of $349 applies to all home loans listed above.

(i) Rates are subject to change.
(ii) 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.
(iii) Available for new loans with a single, investment security only. Approval is subject to AMP Bank guidelines. Other fees and charges apply. Full details are available in the Fees and charges guide . Terms and conditions are available on request.
(iv) View a full list of Reference Rates and their values.

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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 Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.

Information including interest rates is correct and is subject to change without notice. Approval is subject to AMP Bank guidelines. Terms and conditions apply. Fees and charges are payable.

All information on this website is subject to change without notice.

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.

*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. Comparison rates for variable interest only loans (except construction loans) are based on an initial 5 year interest only period and a subsequent 20 year principal and interest period.