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AMP Bank changes fixed home loan rates

AMP Bank changes fixed home loan rates

AMP Bank has joined other Australian lenders in adjusting its interest rates, slashing fixed rates on selected home loans, while raising others.

From 14 November 2018, interest rates on AMP’s Professional Package Home Loans were cut by 58 basis points for 2 year fixed loans, and raised by 6 basis points for 3 year fixed loans.

ProductOld interest rateOld comparison rateNew interest rateNew comparison rateChange
AMP Bank Professional Package Home Loan Fixed 2 Years (Principal and Interest)4.33%4.85%3.75%4.75%-0.58
AMP Bank Professional Package Home Loan Fixed 3 Years(Principal and Interest)3.79%4.67%3.85%4.69%+0.06

Each of these loans is available to owner occupiers paying principal and interest on their mortgage.

Other banks and lenders that recently made changes to their home loan interest rates include Bankwest, Heritage Bank, Teachers Mutual, NAB and ING.

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This article was reviewed by Head of Content Leigh Stark before it was published as part of RateCity's Fact Check process.

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