AMP Bank home loan repayment calculator

Thinking about taking out a home loan with AMP Bank? Use our home loan calculator to see how much you’d have to repay under different borrowing scenarios. You can also see how AMP Bank home loans compare with other options.

I am an

With a repayment type

Borrow amount

$

Deposit amount %

Loan term

Your estimated mortgage repayments

at interest rate 5.00%

Total interest payable

$0

Total loan repayments

$0

Pros and cons

  • Flexible repayment and loan options available
  • Discounted rates on some loans
  • Specialised loans available
  • Moderately-low rates on most loans
  • Ongoing fees charged on some loans
  • Limited interest-only payments

AMP Bank home loans rates

Advertised Rate

2.77%

Variable

Total estimated upfront fees
$295
Comparison Rate*

2.80%

Ongoing fee
$0
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Company
AMP Bank
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Advertised Rate

2.49%

Variable

Total estimated upfront fees
$295
Comparison Rate*

2.90%

Ongoing fee
$349 annually
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Company
AMP Bank
More details
Advertised Rate

2.29%

Fixed - 5 years

Total estimated upfront fees
$295
Comparison Rate*

2.96%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

2.59%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.00%

Ongoing fee
$349 annually
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Company
AMP Bank
More details
Advertised Rate

2.95%

Fixed - 3 years

Total estimated upfront fees
$295
Comparison Rate*

3.00%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

1.97%

Fixed - 3 years

Total estimated upfront fees
$295
Comparison Rate*

3.01%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

3.59%

Fixed - 1 year

Total estimated upfront fees
$295
Comparison Rate*

3.06%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

3.49%

Fixed - 2 years

Total estimated upfront fees
$295
Comparison Rate*

3.09%

Ongoing fee
$349 annually
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Company
AMP Bank
More details
Advertised Rate

1.97%

Fixed - 2 years

Total estimated upfront fees
$295
Comparison Rate*

3.10%

Ongoing fee
$349 annually
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Company
AMP Bank
More details
Advertised Rate

2.49%

Fixed - 1 year

Total estimated upfront fees
$295
Comparison Rate*

3.24%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

2.89%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.30%

Ongoing fee
$349 annually
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Company
AMP Bank
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Advertised Rate

2.68%

Fixed - 3 years

Total estimated upfront fees
$295
Comparison Rate*

3.33%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.89%

Fixed - 5 years

Total estimated upfront fees
$295
Comparison Rate*

3.36%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.34%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.37%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

2.68%

Fixed - 2 years

Total estimated upfront fees
$295
Comparison Rate*

3.39%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

2.99%

Fixed - 1 year

Total estimated upfront fees
$295
Comparison Rate*

3.48%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.43%

Variable

Total estimated upfront fees
$644
Comparison Rate*

3.48%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.39%

Fixed - 5 years

Total estimated upfront fees
$295
Comparison Rate*

3.49%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.12%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.52%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
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Advertised Rate

4.25%

Fixed - 1 year

Total estimated upfront fees
$644
Comparison Rate*

3.55%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.33%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.56%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

4.35%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.57%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

4.55%

Fixed - 1 year

Total estimated upfront fees
$644
Comparison Rate*

3.58%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.33%

Fixed - 2 years

Total estimated upfront fees
$644
Comparison Rate*

3.64%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

2.49%

Fixed - 3 years

Total estimated upfront fees
$295
Comparison Rate*

3.65%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.09%

Fixed - 5 years

Total estimated upfront fees
$295
Comparison Rate*

3.69%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

4.63%

Fixed - 2 years

Total estimated upfront fees
$644
Comparison Rate*

3.69%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.03%

Variable

Total estimated upfront fees
$644
Comparison Rate*

3.71%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.68%

Variable

Total estimated upfront fees
$644
Comparison Rate*

3.73%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.06%

Fixed - 5 years

Total estimated upfront fees
$644
Comparison Rate*

3.73%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.49%

Fixed - 3 years

Total estimated upfront fees
$644
Comparison Rate*

3.75%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

2.49%

Fixed - 2 years

Total estimated upfront fees
$295
Comparison Rate*

3.76%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.99%

Fixed - 3 years

Total estimated upfront fees
$545
Comparison Rate*

3.81%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.64%

Fixed - 1 year

Total estimated upfront fees
$545
Comparison Rate*

3.82%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.79%

Fixed - 3 years

Total estimated upfront fees
$644
Comparison Rate*

3.82%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.94%

Variable

Total estimated upfront fees
$644
Comparison Rate*

3.83%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.84%

Fixed - 1 year

Total estimated upfront fees
$644
Comparison Rate*

3.83%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.57%

Fixed - 2 years

Total estimated upfront fees
$545
Comparison Rate*

3.89%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

2.99%

Fixed - 1 year

Total estimated upfront fees
$295
Comparison Rate*

3.92%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.53%

Variable

Total estimated upfront fees
$295
Comparison Rate*

3.92%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

4.77%

Fixed - 2 years

Total estimated upfront fees
$644
Comparison Rate*

3.92%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.61%

Variable

Total estimated upfront fees
$295
Comparison Rate*

4.00%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

5.07%

Fixed - 3 years

Total estimated upfront fees
$644
Comparison Rate*

4.08%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

5.23%

Fixed - 5 years

Total estimated upfront fees
$644
Comparison Rate*

4.19%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

5.18%

Fixed - 5 years

Total estimated upfront fees
$545
Comparison Rate*

4.35%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

5.38%

Fixed - 5 years

Total estimated upfront fees
$644
Comparison Rate*

4.40%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

4.59%

Variable

Total estimated upfront fees
$295
Comparison Rate*

4.62%

Ongoing fee
$0
Go to site
Company
AMP Bank
More details
Advertised Rate

3.29%

Variable

Total estimated upfront fees
$699
Comparison Rate*

4.73%

Ongoing fee
$20 monthly
Go to site
Company
AMP Bank
More details
Advertised Rate

4.55%

Variable

Total estimated upfront fees
$295
Comparison Rate*

4.92%

Ongoing fee
$349 annually
Go to site
Company
AMP Bank
More details
Advertised Rate

3.29%

Variable

Total estimated upfront fees
$699
Comparison Rate*

5.34%

Ongoing fee
$20 monthly
Go to site
Company
AMP Bank
More details

AMP Bank customer service

Home loan customers can contact AMP by phone to discuss home loans, new customer enquiries, general banking enquiries, as well as superannuation, insurance and retirement queries. You can also contact the bank via email. Customers can also request an appointment through an affiliated network of financial advisers that can be found via the AMP website.

  • Customer service centre (phone)
  • Mobile app
  • Online banking
  • Email
  • Live Chat

How to apply for AMP Bank home loans

There are several ways to apply for an AMP Bank home loan. You can download an application form from the AMP website and arrange an appointment with an AMP Bank home loan specialist. You can also apply by phone or request the bank contact you when convenient. 

Before applying for a home loan, consider how much you can afford to borrow and comfortably repay given your financial situation and income. 

You will also need to provide documentation when applying for a home loan, including (amongst others):

  • Identification.
  • Proof of employment, income and assets.
  • Information on current liabilities, debts and loans.
  • Details of other earnings and expenses.

Refinancers will also be required to provide home loan statements for the previous six months and their last three statements for all loans, accounts or cards being refinanced (if you plan to consolidate these other debts into your mortgage).

AMP Bank home loans review

As a large financial services company, AMP can offer Australians a variety of home loan options.

AMP Bank home loans are available with variable interest rates, or you can fix your interest for up to five years, or choose to split your rate. Options are available for owner occupiers and investors, as well as refinancers. Construction loans are also available for borrowers seeking to build or renovate a property.

AMP’s lowest home loan interest rates tend to be for owner occupiers paying principal and interest. Eligible corporate super members and AMP Limited shareholders may also be able to access special interest rate offers on AMP Bank home loans.

Many AMP Bank home loans have no upfront or ongoing fees. However, other fees and charges may apply on specific home loan offers, or when you use specific home loan features. 

Offset accounts are also available for selected AMP Bank home loans upon request, and may be applied for separately. Extra repayments and redraws are also available with AMP Bank home loans upon request.  

Learn more about AMP Bank

How do I apply for a home loan pre-approval from Commonwealth Bank?

To apply for a Commbank home loan pre-approval, you can either call the bank at 13 2224 or meet one of the bank’s lending specialists. You can set up a meeting online if you wish. You’ll need to do some homework before contacting the bank, such as gathering information on the kind of properties you’d like to buy and their prices.

Preparing a financial summary, which lists all your income sources as well as significant expenses, can also help determine how much you can afford to borrow. You may also want to check your credit score before applying for pre-approval.

It’s worth remembering that a CBA home loan pre-approval doesn’t guarantee that you’ll get the loan. Once you get the pre-approval, you’ll have about three to six months to decide on a property and apply for the home loan. The bank will then confirm that the property is suitable for the loan before fully approving it.

Do the big four banks have guarantor home loans?

Yes, ANZ, Commonwealth Bank, NAB and Westpac all offer guarantor home loans. These mortgages are also offered by many other banks, credit unions and building societies.

How can I get ANZ home loan pre-approval?

Shopping for a new home is an exciting experience and getting a pre-approval on the loan may give you the peace of mind that you are looking at properties within your budget. 

At the time of applying for the ANZ Bank home loan pre-approval, you will be required to provide proof of employment and income, along with records of your savings and debts.

An ANZ home loan pre-approval time frame is usually up to three months. However, being pre-approved doesn’t necessarily mean you will get your home loan. Other factors could lead to your home loan application being rejected, even with a prior pre-approval. Some factors include the property evaluation not meeting the bank’s criteria or a change in your financial circumstances.

You can make an application for ANZ home loan pre-approval online or call on 1800100641 Mon-Fri 8.00 am to 8.00 pm (AEST).

Savings over

Select a number of years to see how much money you can save with different home loans over time.

e.g. To see how much you could save in two years by switching mortgages,  set the slider to 2.

Can I take a personal loan after a home loan?

Are you struggling to pay the deposit for your dream home? A personal loan can help you pay the deposit. The question that may arise in your mind is can I take a home loan after a personal loan, or can you take a personal loan at the same time as a home loan, as it is. The answer is that, yes, provided you can meet the general eligibility criteria for both a personal loan and a home loan, your application should be approved. Those eligibility criteria may include:

  • Higher-income to show repayment capability for both the loans
  • Clear credit history with no delays in bill payments or defaults on debts
  • Zero or minimal current outstanding debt
  • Some amount of savings
  • Proven rent history will be positively perceived by the lenders

A personal loan after or during a home loan may impact serviceability, however, as the numbers can seriously add up. Every loan you avail of increases your monthly installments and the amount you use to repay the personal loan will be considered to lower the money available for the repayment of your home loan.

As to whether you can get a personal loan after your home loan, the answer is a very likely "yes", though it does come with a caveat: as long as you can show sufficient income to repay both the loans on time, you should be able to get that personal loan approved. A personal loan can also help to improve your credit score showing financial discipline and responsibility, which may benefit you with more favorable terms for your home loan.

Who offers 40 year mortgages?

Home loans spanning 40 years are offered by select lenders, though the loan period is much longer than a standard 30-year home loan. You're more likely to find a maximum of 35 years, such as is the case with Teacher’s Mutual Bank

Currently, 40 year home loan lenders in Australia include AlphaBeta Money, BCU, G&C Mutual Bank, Pepper, and Sydney Mutual Bank.

Even though these lengthier loans 35 to 40 year loans do exist on the market, they are not overwhelmingly popular, as the extra interest you pay compared to a 30-year loan can be over $100,000 or more.

Are bad credit home loans dangerous?

Bad credit home loans can be dangerous if the borrower signs up for a loan they’ll struggle to repay. This might occur if the borrower takes out a mortgage at the limit of their financial capacity, especially if they have some combination of a low income, an insecure job and poor savings habits.

Bad credit home loans can also be dangerous if the borrower buys a home in a stagnant or falling market – because if the home has to be sold, they might be left with ‘negative equity’ (where the home is worth less than the mortgage).

That said, bad credit home loans can work out well if the borrower is able to repay the mortgage – for example, if they borrow conservatively, have a decent income, a secure job and good savings habits. Another good sign is if the borrower buys a property in a market that is likely to rise over the long term.

How can I get a home loan with bad credit?

If you want to get a home loan with bad credit, you need to convince a lender that your problems are behind you and that you will, indeed, be able to repay a mortgage.

One step you might want to take is to visit a mortgage broker who specialises in bad credit home loans (also known as ‘non-conforming home loans’ or ‘sub-prime home loans’). An experienced broker will know which lenders to approach, and how to plead your case with each of them.

Two points to bear in mind are:

  • Many home loan lenders don’t provide bad credit mortgages
  • Each lender has its own policies, and therefore favours different things

If you’d prefer to directly approach the lender yourself, you’re more likely to find success with smaller non-bank lenders that specialise in bad credit home loans (as opposed to bigger banks that prefer ‘vanilla’ mortgages). That’s because these smaller lenders are more likely to treat you as a unique individual rather than judge you according to a one-size-fits-all policy.

Lenders try to minimise their risk, so if you want to get a home loan with bad credit, you need to do everything you can to convince lenders that you’re safer than your credit history might suggest. If possible, provide paperwork that shows:

  • You have a secure job
  • You have a steady income
  • You’ve been reducing your debts
  • You’ve been increasing your savings

What is a variable home loan?

A variable rate home loan is one where the interest rate can and will change over the course of your loan. The rate is determined by your lender, not the Reserve Bank of Australia, so while the cash rate might go down, your bank may decide not to follow suit, although they do broadly follow market conditions. One of the upsides of variable rates is that they are typically more flexible than their fixed rate counterparts which means that a lot of these products will let you make extra repayments and offer features such as offset accounts.

Who has the best home loan?

Determining who has the ‘best’ home loan really does depend on your own personal circumstances and requirements. It may be tempting to judge a loan merely on the interest rate but there can be added value in the extras on offer, such as offset and redraw facilities, that aren’t available with all low rate loans.

To determine which loan is the best for you, think about whether you would prefer the consistency of a fixed loan or the flexibility and potential benefits of a variable loan. Then determine which features will be necessary throughout the life of your loan. Thirdly, consider how much you are willing to pay in fees for the loan you want. Once you find the perfect combination of these three elements you are on your way to determining the best loan for you. 

What are the responsibilities of a mortgage broker?

Mortgage brokers act as the go-between for borrowers looking for a home loan and the lenders offering the loan. They offer personalised advice to help borrowers choose the right home loan for their needs.

In Australia, mortgage brokers are required by law to carry an Australian Credit License (ACL) if they offer credit assistance services. Which is the legal term for guidance regarding the different kinds of credit offered by lenders, including home loan mortgages. They may not need this license if they are working for an aggregator, for instance, as a franchisee. In both these situations, they need to comply with the regulations laid down by the Australian Securities and Investments Commission (ASIC).

These regulations, which are stipulated by Australian legislation, require mortgage brokers to comply with what are called “responsible lending” and “best interest” obligations. Responsible lending obligations mean brokers have to suggest “suitable” home loans. This means loans that you can easily qualify for,  actually meet your needs, and don’t prove unnecessarily challenging for you.

Starting 1 January 2021, mortgage brokers must comply with best interest obligations in addition to responsible lending obligations. These require mortgage brokers to act in the best interest of their customers and also requires them to prioritise their customers’ interests over their own. For instance, a mortgage broker may not recommend a lender who gives them a commission if that lender’s home loan offer does not benefit that particular customer.

Can you remove a cosigner from a home loan?

Taking out a home loan is an act of financial responsibility and a cosigner on a home loan shares that responsibility. For this reason, removing a cosigner from a home loan may not be straightforward. Usually, you can add a cosigner, or become a cosigner, when applying for the home loan. In such a circumstance, the lender may ask you to stipulate the conditions for a cosigner release, which are the terms for removing a cosigner from the home loan. For instance, you may agree that you can remove a cosigner once half the loan amount has been repaid.

However, not stipulating such conditions doesn’t mean it’s impossible to remove a cosigner. If the primary home loan applicant has a sufficiently high credit score and has not delayed any repayments, the lender may be willing to remove the cosigner. You should confirm that doing so doesn’t affect the terms of the loan. If the lender doesn’t agree to remove the cosigner, the primary home loan applicant may have to refinance the loan in order to do so. If there were specific reasons for needing a cosigner and those reasons are still valid, then you may have some challenges with refinancing.

Interest Rate

Your current home loan interest rate. To accurately calculate how much you could save, an accurate interest figure is required. If you are not certain, check your bank statement or log into your mortgage account.

Remaining loan term

The length of time it will take to pay off your current home loan, based on the currently-entered mortgage balance, monthly repayment and interest rate.

Monthly Repayment

Your current monthly home loan repayment. To accurately calculate how much you could save, an accurate payment figure is required. If you are not certain, check your bank statement.