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- AMP Bank Basic Package Fixed Home Loan (Interest Only)
AMP Bank Basic Package Fixed Home Loan (Interest Only)
- Owner Occupied
- Fixed 3 years
- 20% min deposit
- Interest Only
Interest rate p.a.
7.44%
Comparison rate* p.a.
7.42%
AMP Bank Basic Package Fixed Home Loan (Interest Only)
- Owner Occupied
- Fixed 3 years
- 20% min deposit
- Interest Only
Interest rate p.a.
7.44%
Comparison rate* p.a.
7.42%
AMP Bank Fixed - 3 years Rate Home Loan overview
For Basic Fixed Rate Home Loan (Interest Only) 3 Years
Principal & Interest (P&I)
Loan type
Loan to value ratio
Interest rate
Comparison rate
Interest only
Loan type
Loan to value ratio
Interest rate
Comparison rate
Details
Maximum LVR
80%
Total repayments
Interest rate type
Fixed - 3 years
Borrowing range
$40k - $2.5m
Suitable for
Owner Occupiers
Loan term range
10 - 30 years
Repayment type
Interest only
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Monthly
Target Market Determination
Visit AMP Bank Limited to view Target Market Determination.
Features
Extra repayments
Allowed with restrictions
Redraw facility
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
You can choose to set up an Offset Deposit Account with a basic variable rate loan. $6 monthly account management fee is payable.
Fees
Total estimated upfront fees
$644
Application fee
$0
Legal fee
$295
Valuation fee
$0
Settlement fee
$349
Other upfront fee
$0
Ongoing fee
$0
Discharge fee
$390
Pros and Cons
For AMP Bank Basic Package Fixed Home Loan (Interest Only)
Benefits
- No ongoing fees
- Split account option
Drawbacks
- Limited extra repayments
- No redraw and no offset
- Higher than average interest rate
- Loan reverts to higher rate after fixed period
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
