AMP Classic Club Introductory Variable Home Loan

Tailor-make your home loan to suit your needs.

The AMP Classic Club Introductory Variable Home Loan allows you to customise your home loan with flexible features. It is available for owner-occupiers and investors.

Interest Rate Max Insured LVR Max LVR
(Investor, IO)
5.84% p.a.
Comparison Rate
6.74% p.a.
80% 80%
(Investor, P&I)
5.79% p.a.
Comparison Rate
6.74% p.a.
80% 80%
(Owner Occupier, IO)
5.33% p.a.
Comparison Rate
5.74% p.a.
90% 80%
(Owner Occupier, P&I)
4.73% p.a.
Comparison Rate
5.68% p.a.
90% 80%
Product NameAMP Classic Club Introductory Variable Home Loan
Interest Rate TypeVariable
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 OptionYes
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$10 monthly ($120 p.a.)
Settlement Fee$250
Discharge Fee$100

Pros

  • 100% offset account
  • Redraw facility

Cons

  • A $350 application fee applies
  • A $100 discharge fee applies

What do I need to know about this loan?

The AMP Classic Club Introductory Variable Home Loan is a full-featured home loan for owner-occupiers or investors. It offers a competitive introductory variable rate to new customers.

What are the features and benefits of the AMP Classic Club Introductory Variable Home Loan?

  • Loan amount. The AMP Classic Club Introductory Variable Home Loan has a low minimum loan amount of $40,000 and a maximum loan amount of $2,000,000. You can borrow up to 90% of the value of the property you're buying, but be aware that borrowing more than 80% will incur a lenders mortgage insurance premium.
  • 100% offset account. The AMP Classic Club Introductory Variable Home Loan offers a linked 100% offset transaction account to help you save on interest and repay your home loan faster.
  • Repayment frequency. Repayments can be made weekly, fortnightly or monthly, and you can make unlimited additional repayments without any penalty.
  • Redraw facility. You can access additional repayments using the loan's free redraw facility.
  • Split facility. You can split your loan up to 10 times to take advantage of both fixed and variable rates.

What fees and charges come with this loan?

  • Application fee: $350. This one-off fee covers the cost of processing your application.
  • Settlement fee: $250. This fee covers the cost of disbursing the funds for your home loan.
  • Monthly service fee: $10. This fee is charged for maintaining your offset account.
  • Discharge fee: $100. This fee is charged when you close your home loan account, either by repaying your loan or refinancing.

How do I apply for this loan?

If you think the AMP Classic Club Introductory Variable Home Loan could be right for you, click the link below to fill in a brief form and be contacted by an AMP lending specialist.

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AMP Classic Club Introductory Variable Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $350 / $10

  • Max LVR

    80%

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