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- AMP Bank Basic Package Variable Investment Loan (Interest Only)
AMP Bank Basic Package Variable Investment Loan (Interest Only)
- Investor
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
7.74%
Comparison rate* p.a.
7.68%
AMP Bank Basic Package Variable Investment Loan (Interest Only)
- Investor
- Variable
- 20% min deposit
- Interest Only
Interest rate p.a.
7.74%
Comparison rate* p.a.
7.68%
AMP Bank Variable Rate Home Loan overview
For Basic Variable Rate Investment Loan (Interest Only)
No owner occupier products available
Details
Maximum LVR
80%
Total repayments
Interest rate type
Variable
Borrowing range
$40k - $2.5m
Suitable for
Investors
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
Unlimited
Redraw facility
Redraw fee: $0
Offset account
Split interest facility
Loan portability
Repayment holiday available
Allow guarantors
Available for first home buyers
Other benefits
Rates available for all new applications and top-ups of $10k+ for existing customers' qualifying loans (if loan contracts have already been issued, a rework fee of $100 will apply).
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 Variable Investment Loan (Interest Only)
Benefits
- No ongoing fees
- 100% full offset account
- Extra repayments and redraw facility
- Free redraw facility
- Split account option
Drawbacks
- Higher than average interest rate
- Higher than average upfront fee
- Discharge fee at end of loan
- No repayment holidays
