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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: 5 May 2021

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

Available to both investors and owner occupiers, AMP Bank's Fixed Rate Home Loan offers fixed rates starting from 4.06% (3.73% comparison rate*) on 5-year fixed terms. Borrowers can make extra repayments (free up to $10,000 p.a.) towards their loan, and they'll have the chance to borrow with a smaller deposit. 

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% (max. 90% LVR) if they're willing to make principal and interest repayments. 

The fixed 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 are on the higher side, starting 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 the extra repayments (up to $10k p.a. for free) and split rate features, there's no redraw facility or offset account available. Mortgage holders will be able to make their repayments on a weekly, fortnightly or monthly basis though, and there are options available for those wanting to make interest-only repayments.

There are also a number of one-off fees attached to the loan including a $295 legal fee, $349 settlement fee and $350 discharge fee. There's no ongoing service fee though, and AMP will cover valuation fees up to $900.

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 AMP's Fixed Rate Loan (Professional Package)

Details

Rates and fees information correct as at 31 July 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 31 July 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 31 July 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 31 July 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
6.3/10
Price
6.7/10
Features
6.2/10
Customer service
6.1/10
Convenience
5.6/10
Trust
6.3/10

Latest reviews of AMP Bank Fixed Rate Loan Home Loan

About AMP Bank

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.