AMP Bank Basic Package Fixed Loan

Get a basic home loan package with flexible features.

The AMP Bank Basic Package Fixed Loan is a basic home loan package available to both owner-occupiers and investors. You can choose from 1, 2, 3 or 5-year fixed terms.

Special offer

AMP is currently waiving the establishment fee of $350 if you keep your loan-to-value ratio under 90%.

Interest Rate Max Insured LVR Max LVR
1 Year (Investor, IO)
4.84% p.a.
Comparison Rate
4.60% p.a.
80% 80%
1 Year (Owner Occupier, P&I)
4.25% p.a.
Comparison Rate
4.32% p.a.
90% 80%
1 Year (Owner Occupier, IO)
4.55% p.a.
Comparison Rate
4.35% p.a.
80% 80%
1 Year (Investor, P&I)
4.64% p.a.
Comparison Rate
4.58% p.a.
90% 80%
2 Years (Owner Occupier, IO)
4.63% p.a.
Comparison Rate
4.38% p.a.
80% 80%
2 Years (Owner Occupier, P&I)
4.33% p.a.
Comparison Rate
4.33% p.a.
90% 80%
2 Years (Investor, P&I)
4.57% p.a.
Comparison Rate
4.58% p.a.
90% 80%
2 Years (Investor, IO)
4.77% p.a.
Comparison Rate
4.61% p.a.
80% 80%
3 Years (Owner Occupier, P&I)
4.49% p.a.
Comparison Rate
4.38% p.a.
90% 80%
3 Years (Owner Occupier, IO)
4.79% p.a.
Comparison Rate
4.45% p.a.
80% 80%
3 Years (Investor, P&I)
3.99% p.a.
Comparison Rate
4.43% p.a.
90% 80%
3 Years (Investor, IO)
5.07% p.a.
Comparison Rate
4.71% p.a.
80% 80%
5 Years (Owner Occupier, P&I)
4.06% p.a.
Comparison Rate
4.23% p.a.
90% 80%
5 Years (Owner Occupier, IO)
5.23% p.a.
Comparison Rate
4.70% p.a.
80% 80%
5 Years (Investor, IO)
5.38% p.a.
Comparison Rate
4.91% p.a.
80% 80%
5 Years (Investor, P&I)
5.18% p.a.
Comparison Rate
4.85% p.a.
90% 80%
Product NameAMP Basic Package Fixed Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Minimum Loan Amount$40,000
Maximum Loan Amount$2,000,000
Minimum Loan Term10 years
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR90%
Mortgage Offset AccountYes
Mortgage 100% OffsetYes
Loan Redraw FacilityYes
Split Loan FacilityYes
Fixed Interest OptionNo
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$350
Lender's Legal Fee$0
Valuation Fee$220-$440
Ongoing Fees$0 p.a.
Settlement Fee$250
Discharge Fee$100

Pros

  • No ongoing fees
  • 100% offset account

Cons

  • There is a $350 application fee
  • There is a $250 settlement fee

What do I need to know about this loan?

The AMP Bank Basic Package Fixed Loan is a basic package home loan well-suited to first home buyers who want a competitive rate with flexible options.

What are the features and benefits of the AMP Bank Basic Package Fixed Loan?

  • Loan amount. The AMP Bank Basic Package Fixed Loan has a minimum borrowing amount of $40,000 and a maximum loan amount of $2,000,000. The loan allows you to borrow up to 90% of the value of the property you're buying. Borrowing above 80% will incur a lenders mortgage insurance premium.
  • Waived fees. This loan carries no account management fees, and AMP Bank is currently waiving the establishment fee for loans up to 90% loan-to-value ratio.
  • Interest-only option. The AMP Bank Basic Package Fixed Loan gives you the option of making interest-only repayments for up to five years.
  • Repayment frequency. Weekly, fortnightly or monthly repayment options are available. You can make up to $10,000 in extra repayments per year without any penalty.
  • Split facility. The AMP Bank Basic Package allows you to split your loan in order to take advantage of both variable and fixed rates.

What fees and charges come with this loan?

  • Establishment fee: $350. This fee covers the cost of processing your application. AMP Bank is currently waiving this fee for loans up to 90% LVR.
  • Settlement fee: $250. This fee covers the administrative cost of funding your home loan.
  • Discharge fee: $100. This fee is charged when you either repay or refinance your home loan.

How do I apply for this loan?

If you believe the AMP Bank Basic Package Fixed Loan is the product for you, click the link below. You'll be directed to fill out a brief form, and you'll be contacted by an AMP lending specialist.

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AMP Basic Package Fixed Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $350 / $0

  • Max LVR

    80%

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