Classic Club

Customise your home loan for greater flexibility

The AMP Bank 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 one 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.

Compare your options.
 

The AMP Bank Classic Club may suit you if you want:

  • a flexible home loan under $100,000
  • to link a new transaction account with your home loan
  • a fixed rate allowing up to $10,000 in extra repayments a year 
  • a redraw facility with a competitive variable rate
  • to consolidate debts into one easy to manage line of credit account.
     

Here’s what you get:

  • your choice of features from the AMP Bank range of home loans
  • variable rate, fixed rate or line of credit loan types
  • up to 10 split loans in each account ($10,000 minimum each)
  • an optional transaction account with variable rate or line of credit loans.
     
5.43% pa Classic Variable Rate Loan1
5.61% pa Comparison Rate2

Apply now

Find out how

1300 534 325

Monday to Friday
9am – 5pm (AEST)

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.
 

Effective 19 August 2016

Loan type Interest rate(i) Comparison rate(ii)
Variable rate loan    
Introductory Classic variable rate loan(iii) 4.43% pa 5.51% pa
Classic variable rate loan 5.43% pa 5.61% pa
Line of credit    
Classic line of credit 5.63% pa Not applicable

Effective 19 August 2016

Loan type                                                        Interest rate(i) Comparison rate(ii)
Fixed rates                                            
1 year fixed rate 4.70% pa 5.53% pa
2 year fixed rate 4.70% pa 5.47% pa
3 year fixed rate 4.70% pa 5.40% pa
5 year fixed rate 5.14% pa 5.48% pa

Effective 22 May 2015

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

Cheque book available on Lines of credit only. Credit interest applies to all Lines of credit. The Establishment fee of $350 and settlement fee of $250 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.

Effective 19 August 2016

Loan type Interest rate(i) Comparison rate(ii)
Variable rate loan (Investment)    
Introductory Classic variable rate loan                     4.72% pa 5.79% pa
Classic variable rate loan 5.72% pa 5.89% pa
Line of credit (Investment)    
Classic line of credit 5.92% pa Not applicable

Effective 19 August 2016

Loan type                                                     Interest rate(i) Comparison rate(ii)
Fixed rates (Investment)                             
1 year fixed rate 5.17% pa 5.84% pa
2 year fixed rate 5.17% pa 5.79% pa
3 year fixed rate 5.17% pa 5.74% pa
5 year fixed rate 5.61% pa 5.85% pa

Effective 22 May 2015

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

Cheque book available on Lines of credit only. Credit interest applies to all Lines of credit. The Establishment fee of $350 and settlement fee of $250 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.


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.

A personalised home loan and all your banking needs

You can combine loan types and bank products to create an easy to manage home loan with access to your funds and extra repayment ability. You have the flexibility to:

  • choose an Offset Deposit Account with a standard variable rate
  • select from variable rate, fixed rate and line of credit loans
  • access funds with linked bank accounts.

Looking for higher borrowing? See our Professional Package

  • For loans greater than $100,000 with access to a master limit option
  • 100% mortgage offset available, funds redraw available
  • Link to a transaction account for easy access to funds
  • Choose from fixed rate, variable rate or line of credit
     

Loan offset calculator

See how much interest you could save by offsetting your savings against your home loan.

Calculate now
  Standard line of credit Standard variable rate loan Fixed rate loan
Fixed interest rate No No Yes
Variable interest rate Yes Yes No
Loan size $40,000 to $1,000,000 $40,000 to $2,000,000 $40,000 to $2,000,000
Upfront fees $350 Establishment fee and $250 Settlement fee $350 Establishment fee and $250 Settlement fee $350 Establishment fee and $250 Settlement fee
Ongoing fees $10 per month $10 per month $10 per month
Repayments Monthly payments Monthly, fortnightly or weekly payments Monthly, fortnightly or weekly payments
Additional repayments Yes, anytime without penalty Yes, anytime without penalty Additional repayments up to a maximum of $10,000 per 12 months without penalty
Interest only period Up to 10 years Up to five years Up to five years
Redraw available Yes, access your additional payments when required Yes, access your additional payments when required No, redraw is available during the fixed rate period
Loan term Up to 30 years Up to 30 years Up to five years
Access Internet (My AMP), Phone (BankPhone), BankAssist, Access Card, BPAY and Cheque book Internet (My AMP), Phone (BankPhone), BankAssist, Access Card and BPAY Internet (My AMP) and Phone (BankPhone)
Split loan facility Yes, up to 10 split loans allowed; minimum split $10,000 Yes, up to 10 split loans allowed; minimum split $10,000 Yes, up to 10 split loans allowed; minimum split $10,000
100% Offset No Yes, with an Offset Deposit Account No
  Apply now Apply now Apply now

Still have questions? Find out more about all of AMP Bank's home loans.

Rate subject to change. Fees and charges apply. Australian credit licence 234517.
 

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Important information

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It’s important to consider your particular 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.

This information is provided by AMP Bank Limited. Read our Financial Services Guide 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.

The credit provider and product issuer is AMP Bank Limited, Australian Credit Licence 234517.

1 Rates are subject to change.
2 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 rate.