Basic Package

Choose a fixed or variable rate
or split the difference.
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3.83% pa   /   3.88% comparison rate2

Owner Occupied variable rate loan1, LVR < 90% + LMI, & P&I repayments. Other rates apply for Investment property loans.

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.

The Basic Package home loan offers:

✓ 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.

Your product features

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.
 

Effective 19 July 2019

Loan type Principal and Interest Interest Only
  (Max LVR 90% + LMI) (Max LVR 80% incl LMI)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Variable rate loan        
Basic variable rate loan(iii) 3.83% pa 3.88% pa 4.43% pa 4.11% pa
Reference Rate(iv) Basic Reference Rate Basic Reference Rate
Interest Only


Effective 8 March 2019

Loan type               Principal and Interest Interest Only
  (Max LVR 90% + LMI) (Max LVR 80% incl LMI)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Fixed rate loans        
Basic 1 year fixed rate         4.25% pa 3.92% pa 4.55% pa 3.94% pa
Basic 2 year fixed rate 4.33% pa 3.97% pa 4.63% pa 4.02% pa
Basic 3 year fixed rate 4.49% pa 4.05% pa 4.79% pa 4.12% pa
Basic 5 year fixed rate 4.06% pa 3.97% pa 5.23% pa 4.43% 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.

Interest rate(i)
Interest rate(i)

Effective 19 July 2019

Loan type Principal & Interest Interest Only
  (Max LVR 90% + LMI) (Max LVR 80% incl LMI)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Variable rate loan
       
Basic variable rate loan (Investment)(iii) 4.08% pa 4.13% pa 4.34% pa 4.23% pa
Reference Rate(iv) Basic Reference Rate
Investment
Basic Reference Rate
Interest Only Investment

Effective 8 March 2019

Loan type   Principal & Interest Interest Only 
  (Max LVR 90% + LMI) (Max LVR 80% incl LMI)
  Interest
rate(i)            
Comparison
rate(ii)                     
Interest
rate(i)             
Comparison
 rate(ii)                      
Fixed rate loans
       
Basic 1 year fixed rate (Investment) 4.64% pa 4.18% pa 4.84% pa 4.20% pa
Basic 2 year fixed rate (Investment) 4.57% pa 4.22% pa 4.77% pa 4.25% pa
Basic 3 year fixed rate (Investment) 3.99% pa 4.11% pa 5.07% pa 4.38% pa
Basic 5 year fixed rate (Investment) 5.18% pa 4.59% pa 5.38% pa 4.65% 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

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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.

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

2 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 construction loans are based on an initial 1 year interest only period with interest payable at the construction rate and a subsequent 24 year principal and interest period with interest payable at the Classic variable rate.