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.
|Product Name||AMP Classic Club Introductory Variable Home Loan|
|Interest Rate Type||Variable|
|Comp Rate^ (p.a.)|
|Minimum Loan Amount||$40,000|
|Maximum Loan Amount||$2,000,000|
|Minimum Loan Term||10 years|
|Maximum Loan Term||30 years|
|Maximum Insured LVR||90%|
|Mortgage Offset Account||Yes|
|Mortgage 100% Offset||Yes|
|Loan Redraw Facility||Yes|
|Split Loan Facility||Yes|
|Fixed Interest Option||Yes|
|Suitable for Investment||Yes|
|Available as equity loan/line of credit||No|
|Repayment Type||Principal & Interest and Interest Only Options|
|Lender's Legal Fee||$0|
|Ongoing Fees||$10 monthly ($120 p.a.)|
- 100% offset account
- Redraw facility
- 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.