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    Why choose our 10-year interest only home loan?

    • Temporarily lower your monthly repayments

      Free up cashflow today to invest, save or simply enjoy more of life

    • Experience the confidence of knowing you’re secure

      Unlike other lenders, we won’t re-assess you during your interest only term

    • Enjoy the flexibility to switch to Principal and Interest anytime

      Freedom to switch to Principal and Interest repayments whenever you’re ready

     

     

     

    Maximise your lifestyle choices

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    A flexible home loan designed for long-term plans

    • Lower monthly repayments

    • No loan review during the interest only term

    • Cashflow flexibility for your future

    • Freedom to switch repayment types

    • Support for long-term wealth goals

    Get started today
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    A wealth creation strategy built for you

    The long-life interest only loan is designed to give you real confidence and flexibility, allowing you to use interest only as a strategy that works for you.

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    Don't let heavy repayments hold you back

    Temporarily reduce your monthly home loan repayments with a 10-year interest only period.

    Enjoy the flexibility to invest in other wealth-building opportunities; or simply enjoy life right now, without financial strain.

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    Long-term security and flexibility

    Once approved, your interest only repayments are locked in for 10 years. Unlike other banks, there are no mid-term reassessments.

    So, you’ll have the confidence to plan ahead, and the flexibility to switch to Principal and Interest at any time, putting you in control at every step.

    Speak to a Specialist today
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    Backed by experience, guided by specialists

    With over 25 years of home lending experience, and a 175-year legacy in helping Australians build their wealth — we know what it takes to support your long-term goals.

    Our local team of home loan specialists are here to guide you every step of the way, so you can move forward with confidence.

        

    Ready to take the next step?

    Book a free consultation with our home loan specialists

     

    What to expect

    1. Choose a day and time that works for you.
    2. The date you select for your appointment must be at least 24 hours from the date of the request.
    3. Please allow up to 30 minutes for your appointment.
    4. One of our home loan specialists in Australia will call you.

     

    If your request is urgent, call or email us.

    Phone: 1300 534 325

    Email: direct_lending@ampbanking.com.au

    9am - 5pm Sydney time, Monday to Friday

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    Your contact details *

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    Please note that we do not take appointments on weekends or public holidays.

    The date you select for your appointment must be at least 24 hours from the date of the request. Please allow up to 30 minutes for your appointment.

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    What can we help you with? *

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    If purchasing, where are you in your journey? *

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    • Dollar amount you would like to borrow
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    Privacy

    The information you provide is being collected by AMP Bank Limited ABN 15 081 596 009 (AMP Bank) in order to respond to your enquiry. If you don't provide the information requested, AMP Bank may not be able to respond to your query. Your personal information may be shared with business areas or companies within the AMP Group. We may also provide information to local and overseas entities which provide AMP with administrative, financial, research or other services, other insurers and credit providers, financial planners, brokers and other organisations authorised by AMP to assist in reviewing customer needs. We may also disclose personal information to courts, tribunals and dispute resolution bodies, government agencies, and other bodies we are required to provide information to under the law. A list of countries where these providers are likely to be located can be accessed via the AMP Privacy Policy.

    The AMP Privacy Policy provides more information about how we manage and protect the personal information we hold about individuals. It sets out how you can access and correct the information that AMP holds about you, how you may complain about a breach of privacy and our process for resolving privacy related enquiries and complaints.
     

    FAQs

    An interest only home loan allows you to pay just the interest on your loan for a set period, in this case, up to 10 years. That means lower monthly repayments during the interest only period, giving you greater cashflow flexibility and more choice in how you manage your money.

    Once the interest only period finishes, your loan will automatically switch to principal and interest repayments for the remainder of the loan term. This means your repayments will increase as you begin paying down the loan balance as it now includes the principal.

    During the interest only period, you're not paying down the principal on your loan, so you're not building equity in your property. Your repayments will also increase once the interest only period ends. It’s a great option for some, but not for everyone — which is why we offer a range of home loan choices to suit different goals and life stages.

    There are no extra fees just for choosing interest only repayments, but interest only loans typically have slightly higher rates than principal and interest loans. Our 10-year interest only option is only available as part of our offset home loan, which includes an annual package fee of $349. Other fees and charges apply, more details available on the fees and charges guide.

    Yes, you can. On variable rate loans, extra repayments are welcome and will help reduce your overall loan balance. Just keep in mind, for fixed rate loans, extra repayments over $10,000 in a 12-month period may incur break costs. We recommend checking your loan conditions or speaking with us before making large repayments. More information can be found in the Loan conditions and credit guide.

    Absolutely. While you can choose an interest only period of up to 10 years, you have the flexibility to switch to principal and interest repayments at any time. It’s all about giving you more control, more choice, and the ability to adapt as your needs evolve.

     

        

    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. 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.