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- Basic Variable Rate Investment Loan (Principal and Interest) (LVR ≤ 60%)
AMP Bank Basic Package Variable Investment Loan (Principal and Interest)
- Investor
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.49%
Comparison rate* p.a.
7.54%
AMP Bank Basic Package Variable Investment Loan (Principal and Interest)
- Investor
- Variable
- 40% min deposit
- P&I
Interest rate p.a.
7.49%
Comparison rate* p.a.
7.54%
Calculate your repayments for this loan
Your estimated repayment
$3,493
based on 500000 loan amount for 25 years at 7.49%
Monthly Repayment
$3,493
Total interest
$757,354
Total payments
$1,257,354
Start date
05-2024
End date
05-2049
Pros and Cons
For AMP Bank Basic Package Variable Investment 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
AMP Bank Variable Rate Home Loan overview
For Basic Variable Rate Investment Loan (Principal and Interest) (LVR ≤ 60%)
Details
Maximum LVR
60%
Total repayments
$1,257,354
Interest rate type
Variable
Borrowing range
$40k - $2.5m
Suitable for
Investors
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
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
