Land Loan

Build your property portfolio with land to use now or later

Consider investing with AMP Land Loans for flexible loans of $40,000 or more.

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 MyAMP or BankPhone to transfer funds into any account you name (pay anyone) via online transfer. See more about redraw advantages.

A Land Loan may suit if you’re:

  • not planning to build immediately, but want to purchase land. 
  • considering flexible extra repayments to redraw or pay interest only.
     

Here’s what you get:

  • up to 30 years on our Land Loan variable rate
  • up to 10 split loans with other land or construction loans ($10,000min/ea)
  • full access to redraw funds and transfer them to any account
  • up to five years of interest only repayments.
5.43% pa Land Loan1
5.49% pa Comparison rate2

Apply now

Find out how

1300 534 325

Monday to Friday
9am – 5pm (AEST)

AMP Bank Land Loan lets you redraw any extra funds you deposit whenever you like with no Withdrawal fees when you transfer online to any named account (pay anyone) via My AMP or BankPhone.1

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.

1 BankAssist fee of $3.00 applies when we perform a transaction that you could have self-serviced with My AMP or BankPhone. Refer to our Home loan fees and charges guide.

Effective 19 August 2016

Loan type Interest Rate(i) Comparison rate(ii)
Land Loan 5.43% pa 5.49% pa
  • An Establishment fee of $350 and a Settlement fee of $250 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.
  • 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.

Effective 19 August 2016

Loan type Interest Rate(i) Comparison rate(ii)
Land Loan 5.72% pa 5.78% pa
  • An Establishment fee of $350 and a Settlement fee of $250 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.
  • Terms and Conditions apply and are available on request. Approval is subject to AMP Bank guidelines.
  • Available for new home loan customers

Other fees and charges apply. Full details are available in the Home loan fees and charges guide.

Make your dreams come true

An AMP Bank Land Loan lets you build your property portfolio with the flexibility to take up to 30 years to decide what to do with your land purchase. You also have the flexibility to:

  • borrow up to 90% of property value, borrow $40,000 to $600,000
  • enjoy a variable interest rate for your choice of term, up to 30 years
  • redraw funds anytime and transfer to linked bank accounts
  • save with a $0 monthly account fee and no extra repayment fees or limits.
     

Buy now, build later

With a land loan lasting up to 30 years, you have no pressure to build in the immediate future. You can relax and plan ahead for holidays or even retirement.

It’s great to know you can borrow up to 90% of the property value. So when you see that land parcel, vacant lot or acreage that jumps out at you, be ready to jump on the property bandwagon. It’s easy with an AMP Bank Land Loan.

When you’re ready to build, look into an AMP Bank Construction Loan.

  Classic Variable Rate Loan Construction Loan Land Loan
Fixed interest rate N/A N/A N/A
Variable interest rate Interest rates Interest rates Interest rates
Loan size $40,000 to $2,000,000 $40,000 to $850,000 $40,000 to $600,000
Upfornt fees $350 Establishment fee and $250 Settlement fee $350 Establishment fee and $250 Settlement fee plus $100 per progress payment $350 Establishment fee and $250 Settlement fee
Ongoing fees $10 per month $10 per month $0
Repayments Monthly, fortnightly or weekly payments Monthly during construction Monthly, fortnightly or weekly payments.
Monthly only for interest only
Additional repayments Yes, anytime without penalty Yes, anytime without penalty Yes, anytime without penalty
Interest only period Up to five years Up to 12 months Up to five years
Redraw available yes, access your additional payments when required Not available during construction period Yes, access your additional payments when required
Loan term Up to 30 years Maximum construction period 12 months Up to 30 years
Access Internet (My AMP), phone (BankPhone), BankAssist, access card and BPay Internet(My AMP) and phone(BankPhone) – information access Internet (My AMP), phone (BankPhone) and BankAssist
Split loan facility Yes, up to 10 split loans allowed. Minimum split $10,000 No Yes, up to 10 split loans allowed. Minimum split $10,000. Can only be split with other land loans and/or construction loans
100% offset Yes, with an Offset Deposit Account No No
  Apply now Apply now Apply now

Still not sure? Find out more about all AMP Bank's home loans.

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

large_landscape
small_landscape_image_1
small_landscape_image_2
portrait_image

How much can you borrow?

Find out what your loan repayments will be

Calculate

Would you like us to contact you?

Want to speak to a financial adviser?

Find an adviser

Important information

Show more

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.