AMP Fixed Rate Loan

The details shown below are for an owner occupier taking out a principal & interest loan between $40,000 and $2,000,000 with an LVR below 90%

The details shown below are for an owner occupier taking out a interest only loan between $40,000 and $2,000,000 with an LVR below 80%

The details shown below are for an investor taking out a principal & interest loan between $40,000 and $2,000,000 with an LVR below 80%

The details shown below are for an investor taking out a interest only loan between $40,000 and $2,000,000 with an LVR below 80%

Choose the version of loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 90%

    Loan: $40,000 $2,000,000

  • Owner Occupier (Interest Only)

    LVR < 80%

    Loan: $40,000 $2,000,000

  • Investor (Principal & Interest)

    LVR < 80%

    Loan: $40,000 $2,000,000

  • Investor (Interest Only)

    LVR < 80%

    Loan: $40,000 $2,000,000

4.60% p.a.

5.49% p.a.

$10.00 monthly

AMP Fixed Rate Loan

4.60% p.a.

5.49% p.a.

$10.00 monthly

4.90% p.a.

5.99% p.a.

$10.00 monthly

AMP Fixed Rate Loan

4.90% p.a.

5.99% p.a.

$10.00 monthly

5.17% p.a.

6.39% p.a.

$10.00 monthly

AMP Fixed Rate Loan

5.17% p.a.

6.39% p.a.

$10.00 monthly

5.37% p.a.

6.48% p.a.

$10.00 monthly

AMP Fixed Rate Loan

5.37% p.a.

6.48% p.a.

$10.00 monthly

Mozo Review   AMP Fixed Rate Loan Review

Last updated: 13 July 2018.

What's hot:
  • 4.60% fixed rate (1-3 years)

  • Extra repayments free up to $10,000 p.a.

What's not:
  • No redraw facility

  • High 5.50% revert rate

Mozo snapshot:

AMP have delivered a pretty good package in the Fixed Rate Home Loan, a super-low fixed rate of 4.60% over terms of either 1, 2 or 3 years. AMP also allows customers to get ahead on their payments without penalty - you can pay off an extra $10,000 per year without a worry.

Key features:

The Fixed Rate Home Loan is available for loans between $40,000 and $2,000,000 and borrowing can't exceed 90% of the property price. AMP has made the Fixed Rate Home Loan available to new and existing customers - there are no restrictions as to who can apply.

The fixed rate of 4.60% is available for terms of 1-3 years, but AMP also offer the Fixed Rate Home Loan for 5 years at 5.04%. There is a one-off $350 application fee.

As low as the fixed rates on the one and two year terms are, the revert rate is a steep 5.58% - you might want to consider switching loans after the fixed rate period ends. Similarly, be wary of the upkeep fees, as $10 a month can certainly begin to add up over the life of a 25 year loan. And if you're the type of borrower who enjoys the flexibility of a redraw or offset account, this loan probably isn't for you.

There is, however, a heap of flexibility in terms of repayments - you can choose to pay weekly, fortnightly, or monthly. 

Who it's good for:

The AMP Fixed Rate Home Loan is a great catch for the homeowner who wants to snap up a fab short term fixed rate and have certainty and consistency of repayments for a fixed period.

Any catches?

Watch out for the end date of your fixed term - don't get stung by that revert rate.

Details

Rates and fees information correct as at 19 September 2018.

Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.60% (5.66%*)

  • 4.60% (5.57%*)

  • 4.60% (5.49%*)

  • (*)

  • 5.04% (5.52%*)

  • (*)

  • (*)

  • 5.58% p.a.

Fees
  • $350.00

  • $295.00

  • $0.00

  • $250.00

  • none

  • $10.00 monthly

  • $100.00

Other financial bits
  • $40,000

  • $2,000,000

  • none

  • 90.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 19 September 2018.

Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.90% (6.22%*)

  • 4.90% (6.10%*)

  • 4.90% (5.99%*)

  • (*)

  • 5.34% (5.99%*)

  • (*)

  • (*)

  • 6.18% p.a.

Fees
  • $350.00

  • $295.00

  • $0.00

  • $250.00

  • none

  • $10.00 monthly

  • $100.00

Other financial bits
  • $40,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 19 September 2018.

Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 5.17% (6.66%*)

  • 5.17% (6.52%*)

  • 5.17% (6.39%*)

  • (*)

  • 5.61% (6.36%*)

  • (*)

  • (*)

  • 6.64% p.a.

Fees
  • $350.00

  • $295.00

  • $0.00

  • $250.00

  • none

  • $10.00 monthly

  • $100.00

Other financial bits
  • $40,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • none

  • none

Details

Rates and fees information correct as at 19 September 2018.

Rates
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 5.37% (6.72%*)

  • 5.37% (6.60%*)

  • 5.37% (6.48%*)

  • (*)

  • 5.81% (6.48%*)

  • (*)

  • (*)

  • 6.69% p.a.

Fees
  • $350.00

  • $295.00

  • $0.00

  • $250.00

  • none

  • $10.00 monthly

  • $100.00

Other financial bits
  • $40,000

  • $2,000,000

  • none

  • 80.00%

Features
  • Weekly, Fortnightly, Monthly

  • yes - free up to $10,000 p.a.

  • none

  • no

  • none

  • yes

  • no

  • none

  • none

Customer Reviews

How are AMP home loans rated by the Mozo community?

Overall customer rating
6.3/10

Based on 51 AMP home loan reviews

Price
6.6/10
Features
6.3/10
Customer service
6.4/10
Convenience
5.2/10
Trust
6.5/10

Latest reviews of AMP Fixed Rate Loan

  • Overall
    10/10
    We highly recommend AMP.

    We have found AMP to be fantastic. We were with Commonwealth for many years and they didn't do...

    We have found AMP to be fantastic. We were with Commonwealth for many years and they didn't do much for us.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Lisa | VIC

    08 Mar 2016

  • Overall
    0/10
    Uncompromising, but great customer service

    I have been stuck with AMP for a couple of years now. I'm stuck in a rather high interest rate...

    I have been stuck with AMP for a couple of years now. I'm stuck in a rather high interest rate and I have been advised it will cost me over $18,000 to get out of my fixed rate. If they really wanted to keep me and give me an excellent interest rate in order to keep me and continue paying them (less of course), then you would think they would . I feel like I'm just another number and just another income for them. Sure customer service is great, but as soon as I've completed my time with them - it's all over Red Rover and I'm out their door with so much as a wave.

    Price
    0/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    0/10
    Trust
    0/10

    Michelle | QLD

    08 Aug 2014

  • Overall
    8/10
    Great all rounder

    I have been with AMP for over 5 years and the customer service has been great. Any questions I...

    I have been with AMP for over 5 years and the customer service has been great. Any questions I have, I send an email and within a day I have a full and comprehensive answer. I have only positive opinions on AMP as a bank.

    Price
    8/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    8/10

    Nick | NSW

    28 Jul 2014

  • Overall
    2/10
    NIL customer service

    Since our finance broker first started the process with AMP in 2013 the trouble started with no...

    Since our finance broker first started the process with AMP in 2013 the trouble started with no response to questions and other important issues that we needed resolved prior to settlement. It was downright scary. Since last Friday, we have been trying to get someone from AMP to send us a Mortgage Discharge Authority form. By phone we can't get through, having to hold on after the computer message saying that they have an extraordinary number of enquiries at that time. This can be any time & is just a ruse in our opinion because they obviously lack staff numbers to address customer enquiries. The AMP Bank website shows a few pages of forms, however no Mortgage Discharge Authority form. We've tried emailing customer service and the technical service desk, but no reply as yet. If our sales agent tells us that there is an interested buyer for the property we are selling, our stress levels will once again reach the levels of the original dealings with AMP.

    Price
    8/10
    Features
    5/10
    Customer service
    0/10
    Convenience
    5/10
    Trust
    0/10

    Paul | QLD

    02 Jul 2014

  • Overall
    8/10
    The Big Thumbs Up

    I found this loan through a broker, and my criteria was based mainly on monthly affordability. ...

    I found this loan through a broker, and my criteria was based mainly on monthly affordability. This loan fit me, rather than me having to fit IT. I liked that I could dictate how much I would be paying per month, and found the product to suit me. It was a great answer to securing the right house at the wrong time (!) but ensuring affordability and my future happiness :) AMP are great over the phone, as I do not have a branch within my area.

    Price
    7/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    7/10
    Trust
    9/10

    Blythe | NT

    30 Apr 2014

AMP

About AMP

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, credit cards, savings and accounts and term deposits. Also AMP's range of vehicle insurances are designed to give you more choice and flexibility while providing cover for a comprehensive range of accidents, damage and events.

See AMP home loans

*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.