What's in it for you?
Rest assured you’re in a great place to achieve your property goals with AMP First.
Over the past two years, homeowners with a $500,000 AMP First variable home loan saved $2,084 in mortgage repayments compared with a AMP Professional Package loan, and $3,867 compared with a similar loan from a competitor^.
We guarantee your AMP First rate will be reviewed at least twice a year and will always be ranked in the top three comparison and headline rates in Australia1
Variable rate updates applied to existing customers automatically
You can request to redraw for free with variable rate loans
Up to 10 loan splits, and offset accounts available
Make extra repayments of up to $10,000 per year on fixed-rate loans
Fixed, variable or split / buy, refinance or invest / principal and interest or interest only
Eligibility & fees
No Fees
- $0 mortgage processing (legal) costs2
- $0 settlement fee
- $0 ongoing annual fee
- $0 master limit application fee
- $0 variation fee3
Are you eligible?
This offer is available if you:
- Are an eligible AMP Super member or AMP staff or shareholder
- Apply directly through AMP Bank for a new loan4
Interest rates in more detail
We guarantee…
- Your AMP First rate will be fully reviewed if we reduce AMP Professional Package rates more than 0.3 percentage points below AMP First.
- Your AMP First fixed rates will always be lower than the best new AMP Bank fixed rates.
AMP First Home Loan - owner occupied (variable rate loan)
Effective 10 November 2023
| Loan type | Principal and Interest | Interest Only | ||
|---|---|---|---|---|
| (LVR <90% + LMI) | (LVR <80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Variable rate loan | 6.24% pa |
6.24% pa | 7.09% pa | 6.61% pa |
| Construction | n/a | n/a | 7.34% pa | 6.35% pa |
| Reference Rate(iii) |
AMP First Reference Rate | AMP First Reference Rate Interest Only |
||
| Line of Credit | n/a | n/a | 7.29% pa |
6.98% pa |
| Reference Rate(iii) | AMP First Line Of Credit Reference Rate | AMP First Line Of Credit Reference Rate Interest Only | ||
(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 of other loan amounts might result in a different comparison rate.
(iii) View a full list of Reference Rates and their values
AMP First Home Loan – owner occupied (fixed rate loan)
Effective 25 October 2023
| Loan type | Principal and Interest | Interest Only | ||
|---|---|---|---|---|
| (LVR <90% + LMI) | (LVR <80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Fixed rates | ||||
| 1 year fixed rate | 6.57% pa | 6.27% pa | 6.72% pa | 6.29% pa |
| 2 year fixed rate | 6.58% pa | 6.31% pa | 6.67% pa | 6.32% pa |
| 3 year fixed rate | 6.58% pa | 6.34% pa |
6.62% pa | 6.35% pa |
| 5 year fixed rate | 6.83% pa | 6.50% pa | 7.07% pa | 6.60% pa |
(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 of other loan amounts might result in a different comparison rate.
(iii) View a full list of Reference Rates and their values
AMP First Investment Home Loan – property investor (variable rate loan)
Effective 10 November 2023
| Loan type | Principal and Interest | Interest Only | ||
|---|---|---|---|---|
| (LVR <90%) | (LVR <80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Variable rate loan | 6.44% pa |
6.44% pa | 6.79% pa | 6.59% pa |
| Construction | n/a | n/a | 7.09% pa | 6.51% pa |
| Reference Rate(iii) |
AMP First Reference Rate Investment | AMP First Reference Rate Interest Only Investment |
||
| Line of Credit | n/a | n/a | 6.99% pa |
6.82% pa |
| Reference Rate(iii) | AMP First Line Of Credit Reference Rate Investment | AMP First Line Of Credit Reference Rate Interest Only Investment | ||
(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 of other loan amounts might result in a different comparison rate.
(iii) View a full list of Reference Rates and their values
AMP First Investment Home Loan – property investor (fixed rate loan)
Effective 25 October 2023
| Loan type | Principal and Interest | Interest Only | ||
|---|---|---|---|---|
| (LVR <90%) | (LVR <80%) | |||
| Interest rate(i) | Comparison rate(ii) | Interest rate(i) | Comparison rate(ii) | |
| Fixed rates | ||||
| 1 year fixed rate | 6.57% pa | 6.45% pa | 6.62% pa | 6.46% pa |
| 2 year fixed rate | 6.58% pa | 6.47% pa | 6.63% pa | 6.48% pa |
| 3 year fixed rate | 6.58% pa | 6.48% pa | 6.58% pa | 6.48% pa |
| 5 year fixed rate | 6.92% pa | 6.65% pa | 6.97% pa | 6.67% pa |
(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 of other loan amounts might result in a different comparison rate.
(iii) View a full list of Reference Rates and their values
Talk to a Home Loan Specialist
What you need to know
* This interest rate applies to the Owner Occupied variable rate loan, LVR ≤ 90% + LMI, P&I repayments. Other rates apply depending on your loan type. Rates are subject to change.
** The comparison rate is calculated for a secured loan on an 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.
^ Savings are based on the interest rates for AMP First and Professional Package variable rate loans of $500,000 with an LVR of 80%. Upfront and ongoing fees and charges have also been included in the comparison. Any AMP First reviews in the last two years have also been considered.
1 The rates used for review will be those published by Canstar (or a similar comparison group determined by us). The review considers a $500,000 variable rate loan with an LVR of 80%, as part of a packaged loan. The comparison and interest rates relevant to those loans are used in the review
2 AMP Bank's mortgage processing service provider's standard costs for one or two security property(ies) of $295 will be paid by AMP Bank. Costs for additional security property(ies) and any non-standard mortgage processing service provider's costs are payable.
3 A $299 variation fee will apply in the instance you’re switching from an existing AMP Bank Home Loan to the AMP First Home Loan. It will not apply if you’re switching from another provider.
4 This offer is available to eligible AMP super members and certain other eligible groups, who apply directly through AMP Bank for a new home loan by completing an application form. Rates are subject to change at any time and without notice. Offer available for loans not exceeding 90% of the property value (or 80% of the property value for interest-only loans).
See the AMP First Home Loan rules for applicable terms, conditions and eligibility criteria.
The credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit Licence 234517. Information including interest rates is correct as at 24 February 2023 and is subject to change without notice. Terms and conditions apply and are available at amp.com.au/bankterms or by calling 13 30 30. Fees and charges are payable. Approval is subject to AMP Bank guidelines. 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. 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 this product is available at www.amp.com.au/bank/tmd