With no pressure to build straightaway, you can buy vacant land or acreage and hold on to it for up to 30 years on our variable rate. And with no ongoing fees, you decide between minimum interest only repayments or fast-track with extra repayments without penalty. Not only do you have the flexibility to pay off your land loan sooner, you can also redraw any extra repayments easily and without fees, using My AMP or BankPhone to transfer funds into any account you name (pay anyone) via online transfer.
7.70% pa
Owner Occupied variable rate loan¹
7.75% pa
Comparison rate2
Redraw advantages
- AMP Bank Land Loan lets you redraw any extra funds you deposit whenever you like.
- Making additional repayments at any time is a great way to reduce your outstanding balance, which reduces the amount of interest you pay over the life of your loan. You can cut years off your loan and save money with every extra dollar you deposit.
- This Land Loan also lets you make repayments weekly, fortnightly or monthly (Interest only requires monthly repayments.) Remember, the frequency of repayments (or an extra payment) also helps shorten the term of your loan.
Owner occupied new business rates & fees
Effective
| Loan type | Principal and Interest | Interest Only | ||
| (LVR ≤90% + LMI) | (LVR ≤80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Land Loan(iii) | % pa | % pa | % pa | % pa |
| Reference Rate(iv) | Standard Reference Rate | Standard Reference Rate Interest Only | ||
A Settlement fee of $349 applies.
(i) Rates are subject to change.
(ii) Comparison rate 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.
(iii) Rate is for new loans only and subject to change.
(iv) View a full list of Reference Rates and their values.
Terms and Conditions apply and are available on request. Approval is subject to AMP Bank guidelines.
Available for new home loan customers with a single, owner occupied security only, with the intention of building a single owner occupied property on the land. Other fees and charges apply. Full details are available in the Home loan fees and charges guide.
Investment new business rates & fees
Effective
| Loan type | Principal and Interest | Interest Only | ||
| (LVR ≤90%) | (LVR ≤80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Land Loan(iii) | % pa | % pa | % pa | % pa |
| Reference Rate(iv) | Standard Reference Rate Investment | Standard Reference Rate Interest Only Investment |
||
A Settlement fee of $349 applies.
(i) Rates are subject to change.
(ii) Comparison rate 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.
(iii) Rate is for new loans only and subject to change.
(iv) View a full list of Reference Rates and their values.
Terms and Conditions apply and are available on request. Approval is subject to AMP Bank guidelines.
Available for new home loan customers with a single, owner occupied security only, with the intention of building a single owner occupied property on the land. Other fees and charges apply. Full details are available in the Home loan fees and charges guide.
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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.
1$40,000+, LVR ≤ 90% + LMI, & P&I repayments. Other rates apply for Investment property loans.
2The comparison rate is calculated for a secured loan for an amount of $150,000 over a 25 year term. WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.