AMP Bank Professional Package Line of Credit
Get a flexible line of credit to finance your goals.
The AMP Bank Professional Package Line of Credit is a line of credit home loan available both to investors and owner-occupiers.
Adam Smith was the home loans editor at Finder. Prior to joining Finder he was the editor at Australian Broker where he had been writing about home loans since 2010.
The AMP Bank Professional Package Line of Credit is a flexible line of credit that offers full transaction access and a pre-approved master limit for purchases.
About this loan
What are the features and benefits of the AMP Bank Professional Package Line of Credit?
- Loan amount. The AMP Bank Professional Package Line of Credit has a minimum borrowing amount of $100,000 and a maximum loan amount of N/A. The funds are a pre-approved credit limit, and you'll only be charged interest on the amount that you use.
- Waived fees. AMP Bank is currently waiving the establishment fee for loans with a loan-to-value ratio (LVR) of up to 90%.
- Interest-only option. The AMP Bank Professional Package Line of Credit gives you the option of making interest-only repayments.
- Repayment frequency. Repayments must be made monthly, and you can make as many additional repayments as you like without penalty. If you make additional repayments you can request to redraw them for no extra charge. This is a handy feature that can give you access to your funds quickly while still taking advantage of the low-interest repayments while you had the money in the loan account.
- Access to funds. You can access your line of credit funds using a debit card at ATMs across Australia. There is no limit to the number of transactions you can perform.
What fees and charges come with this loan?
- Discharge fee: $390. The discharge fee applies when you either repay or refinance your home loan.
- Valuation fee: Free under $550. You only pay a valuation fee if the cost of valuing the property exceeds $550.
Other fees and charges apply.
How to apply
If you believe the AMP Bank Professional Package Line of Credit is the right product for you, click the link below. You'll be directed to fill out a brief form, and you'll then be contacted by an AMP lending specialist.