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- AMP Bank Basic Package Variable Home Loan (Principal and Interest)
AMP Bank Basic Package Variable Home Loan (Principal and Interest)
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.24%
Comparison rate* p.a.
7.29%
AMP Bank Basic Package Variable Home Loan (Principal and Interest)
- Owner Occupied
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.24%
Comparison rate* p.a.
7.29%
AMP Bank Variable Rate Home Loan overview
For Basic Variable Rate Home Loan (Principal and Interest) (LVR ≤ 60%)
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
60%
Total repayments
Interest rate type
Variable
Borrowing range
$40k - $2.5m
Suitable for
Owner Occupiers
Loan term range
10 - 30 years
Repayment type
Principal and Interest
Applicable states
ACT, NSW, NT, QLD, SA, TAS, VIC, WA
Repayment options
Fortnightly, Monthly, Weekly
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
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 Home Loan (Principal and Interest)
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
- Maximum loan amount is limited to 60% of the property's value
- No repayment holidays
