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AMP Bank Fixed Rate Loan

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan of at least $40,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan of at least $40,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan of at least $40,000 with an LVR below 90%

The details shown below are for an investor taking out a interest only loan of at least $40,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $40,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $40,000

  • Investor (Principal & Interest)

    LVR < 90%

    Loan: $40,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $40,000

Fixed 3 year rate
4.49% p.a.
Comparison Rate
3.75% p.a.
Service fee
$0.00
Upfront fee
$644
Fixed 3 year rate
4.79% p.a.
Comparison Rate
4.28% p.a.
Service fee
$0.00
Upfront fee
$644
Fixed 3 year rate
3.99% p.a.
Comparison Rate
3.81% p.a.
Service fee
$0.00
Upfront fee
$644
Fixed 3 year rate
5.07% p.a.
Comparison Rate
4.29% p.a.
Service fee
$0.00
Upfront fee
$644

Mozo editorial review AMP Bank Fixed Rate Loan

Last updated: 15 December 2020.

binocular icon
What's hot
  • Extra repayments (free up to $10,000 p.a.)
  • Borrow with a 10% deposit
  • Loans from $40,000
What's not
  • No redraw facility
  • High fixed rates
Mozo snapshot

AMP Bank offers fixed rates starting from 4.06% (3.73% comparison rate*) with its Fixed Rate Home Loan, as well as features like an extra repayments facility (free up to $10,000 p.a.) for both owner occupiers and investors.

key icon
Key features

The Fixed Rate Home Loan from AMP Bank is available for loans starting from $40,000, and both owner occupiers and investors will be able to take out a loan with a deposit as low as 10% if they're willing to make principal and interest repayments. 

The rates on offer with the loan depend on the length of the fixed period (1, 2, 3 or 5 years) and the desired repayment type (principal and interest or interest-only), but they start at: 

  • 4.06% (3.73% comparison rate*) for owner occupiers making principal and interest repayments on a 5-year fixed term

  • 3.99% (3.81% comparison rate*) for investors making principal and interest repayments on a 3-year fixed term

While borrowers can make use of features like extra repayments (up to $10k p.a. for free) and a split rate, there's no redraw facility or offset account available. 

There are also a number of fees attached to the loan including a $295 legal fee, $349 settlement fee and $350 discharge fee. AMP will cover valuation fees up to $900 though.

snapshot
Who is it good for

The AMP Bank Fixed Rate Home Loan doesn't come with the sharpest fixed rates around, but it could be an option for borrowers with a lower deposit (at least 10%) or those wanting to borrow a smaller amount (loans from $40,000). 

question icon
Any catches

Given the relatively high fixed rates, borrowers looking for a lower rate may want to check out another an option like the AMP Fixed Rate Loan (Professional Package)

Details

Rates and fees information correct as at 25 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 4.25% (3.55%*)

  • 4.33% (3.64%*)

  • 4.49% (3.75%*)

  • n/a

  • 4.06% (3.73%*)

  • n/a

  • n/a

  • 3.43% p.a.

Fees
  • $0.00

  • $295.00

  • $0.00

  • $349.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $40,000

  • none

  • none

  • 90.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • AMP Bank will only cover valuation fees up to $900.

  • none

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 25 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 4.55% (4.13%*)

  • 4.63% (4.19%*)

  • 4.79% (4.28%*)

  • n/a

  • 5.23% (4.58%*)

  • n/a

  • n/a

  • 4.03% p.a.

Fees
  • $0.00

  • $295.00

  • $0.00

  • $349.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $40,000

  • none

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • AMP Bank will only cover valuation fees up to $900.

  • none

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 25 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 4.64% (3.82%*)

  • 4.57% (3.89%*)

  • 3.99% (3.81%*)

  • n/a

  • 5.18% (4.35%*)

  • n/a

  • n/a

  • 3.68% p.a.

Fees
  • $0.00

  • $295.00

  • $0.00

  • $349.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $40,000

  • none

  • none

  • 90.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • AMP Bank will only cover valuation fees up to $900.

  • none

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Details

Rates and fees information correct as at 25 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 4.84% (4.07%*)

  • 4.77% (4.14%*)

  • 5.07% (4.29%*)

  • n/a

  • 5.38% (4.59%*)

  • n/a

  • n/a

  • 3.94% p.a.

Fees
  • $0.00

  • $295.00

  • $0.00

  • $349.00

  • n/a

  • $0.00

  • $350.00

Other financial bits
  • $40,000

  • none

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • AMP Bank will only cover valuation fees up to $900.

  • none

  • none

WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

Customer Reviews

How are AMP Bank home loans rated by the Mozo community?

Overall
6.4/10
Price
6.8/10
Features
6.3/10
Customer service
6.2/10
Convenience
5.6/10
Trust
6.3/10

Latest reviews of AMP Bank Fixed Rate Loan

Thumbnail icon for AMP Bank

About AMP Bank

AMP is a leading wealth management company operating in Australia and New Zealand, with a rich evolving history spanning 150 years. Its growing banking business in Australia now includes a range of retail products such as home loans, savings accounts and term deposits.

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