AMP Introductory Classic Variable Rate
This product is available in different versions. Pick the right version for you here.
The details shown below are for an owner occupier taking out a principal & interest loan between $40,000 and $2,500,000 with an LVR below 90%
The details shown below are for an owner occupier taking out a interest only loan between $40,000 and $2,500,000 with an LVR below 80%
The details shown below are for an investor taking out a principal & interest loan between $40,000 and $2,500,000 with an LVR below 90%
The details shown below are for an investor taking out a interest only loan between $40,000 and $2,500,000 with an LVR below 80%
Choose the version of this loan that suits you best
| Availability | Loan type | LVR | Min loan amount | Max loan amount | |
|---|---|---|---|---|---|
| | Owner Occupier | Principal & Interest | < 90% | $40,000 | $2,500,000 |
| | Owner Occupier | Interest Only | < 80% | $40,000 | $2,500,000 |
| | Investor | Principal & Interest | < 90% | $40,000 | $2,500,000 |
| | Investor | Interest Only | < 80% | $40,000 | $2,500,000 |
-
Owner Occupier (Principal & Interest)
LVR < 90%
Loan: $40,000 $2,500,000
-
Owner Occupier (Interest Only)
LVR < 80%
Loan: $40,000 $2,500,000
-
Investor (Principal & Interest)
LVR < 90%
Loan: $40,000 $2,500,000
-
Investor (Interest Only)
LVR < 80%
Loan: $40,000 $2,500,000
4.13% p.a.variable for 12 months and then 5.13% p.a.
5.08% p.a.
$0.00
AMP Introductory Classic Variable Rate
4.13% p.a.variable for 12 months and then 5.13% p.a.
5.08% p.a.
$0.00
AMP Introductory Classic Variable Rate
4.13% p.a.variable for 12 months and then 5.13% p.a.
5.08% p.a.
$0.00
4.73% p.a.variable for 12 months and then 5.73% p.a.
5.68% p.a.
$0.00
AMP Introductory Classic Variable Rate
4.73% p.a.variable for 12 months and then 5.73% p.a.
5.68% p.a.
$0.00
AMP Introductory Classic Variable Rate
4.73% p.a.variable for 12 months and then 5.73% p.a.
5.68% p.a.
$0.00
5.19% p.a.variable for 12 months and then 6.19% p.a.
6.14% p.a.
$0.00
AMP Introductory Classic Variable Rate
5.19% p.a.variable for 12 months and then 6.19% p.a.
6.14% p.a.
$0.00
AMP Introductory Classic Variable Rate
5.19% p.a.variable for 12 months and then 6.19% p.a.
6.14% p.a.
$0.00
5.24% p.a.variable for 12 months and then 6.24% p.a.
6.19% p.a.
$0.00
AMP Introductory Classic Variable Rate
5.24% p.a.variable for 12 months and then 6.24% p.a.
6.19% p.a.
$0.00
AMP Introductory Classic Variable Rate
5.24% p.a.variable for 12 months and then 6.24% p.a.
6.19% p.a.
$0.00
Mozo Review AMP Introductory Classic Variable Rate Review
Last updated: 14 October 2019.
What's hot:
Free extra repayments and redraw facility
Free offset account
No application fee
What's not:
$349 settlement fee
$350 discharge fee
Mozo snapshot:
The AMP Introductory Classic Variable Rate Home Loan has a lot in the way of features, letting owner occupiers take advantage of free extra repayments, an offset account, and redraw facility. On top of that, for the first 12 months your rate will be treated to an introductory rate of 4.13% p.a. variable rate (5.08% p.a. comparison rate*).
Key features:
The AMP Introductory Classic Variable Rate home loan offers owner occupiers a 4.13% p.a. variable rate (5.08% p.a. comparison rate*) for the first 12 months of the loan, before reverting to 5.13% p.a. When it comes to paying down your loan, you can do so on a weekly, fortnightly or monthly basis. And if you want to chip in a little extra to get ahead, you can do so at any time without facing any penalties.
As for the extra features, there’s little that’s been left off the table. There’s a free redraw facility, in case you want to retrieve any of those extra repayments you’ve made, plus an offset account, where you can park your savings to pay less on interest. On top of that you’ll also have the ability to split your loan, meaning you can fix part of it to protect against any future rate hikes.
Who it's good for:
With a 90% LVR option, this loan would be appreciated by homebuyers who might not have enough saved to meet the 20% deposit requirement of many other loans.
Any catches?
There are a few fees that come with this one, namely the $295 legal fee, the $349 settlement fee, and the $350 discharge fee. And it bears repeating that the variable rate of 4.13% p.a. is only offered for the first 12 months of the loan, so you might want to start comparing other home loan offers before the revert rate kicks in.
Details
Rates and fees information correct as at 15 December 2019. 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
-
5.13% p.a.
-
4.13% p.a.
-
12 Months
-
Variable
-
5.08% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$295.00
-
$0.00
-
$349.00
-
n/a
-
$0.00
-
$350.00
Other financial bits
-
$40,000
-
$2,500,000
-
none
-
90.00%
Features
-
Owner Occupier
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
none
-
yes
-
none
-
yes
-
yes
-
none
-
none
-
none
Details
Rates and fees information correct as at 15 December 2019. 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
-
5.73% p.a.
-
4.73% p.a.
-
12 Months
-
Variable
-
5.68% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$295.00
-
$0.00
-
$349.00
-
n/a
-
$0.00
-
$350.00
Other financial bits
-
$40,000
-
$2,500,000
-
none
-
80.00%
Features
-
Owner Occupier
-
Interest Only
-
Weekly, Fortnightly, Monthly
-
yes - free
-
none
-
yes
-
none
-
yes
-
yes
-
none
-
none
-
none
Details
Rates and fees information correct as at 15 December 2019. 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
-
6.19% p.a.
-
5.19% p.a.
-
12 Months
-
Variable
-
6.14% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$295.00
-
$0.00
-
$349.00
-
n/a
-
$0.00
-
$350.00
Other financial bits
-
$40,000
-
$2,500,000
-
none
-
90.00%
Features
-
Investor
-
Principal & Interest
-
Weekly, Fortnightly, Monthly
-
yes - free
-
none
-
yes
-
none
-
yes
-
yes
-
none
-
none
-
none
Details
Rates and fees information correct as at 15 December 2019. 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
-
6.24% p.a.
-
5.24% p.a.
-
12 Months
-
Variable
-
6.19% p.a.
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
-
n/a
Fees
-
$0.00
-
$295.00
-
$0.00
-
$349.00
-
n/a
-
$0.00
-
$350.00
Other financial bits
-
$40,000
-
$2,500,000
-
none
-
80.00%
Features
-
Investor
-
Interest Only
-
Weekly, Fortnightly, Monthly
-
yes - free
-
none
-
yes
-
none
-
yes
-
yes
-
none
-
none
-
none
Customer Reviews
How are AMP home loans rated by the Mozo community?
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.
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