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.
| Product | Old interest rate | Old comparison rate | New interest rate | New comparison rate | Change |
|---|---|---|---|---|---|
| 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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