AMP Bank has reduced its interest rates for new and existing customers across all variable rate home loans by 25 basis points and for new fixed term home loans by up to 30 basis points.
The AMP standard variable home loan interest rate will be reduced to 6.00 per cent per annum.
The AMP Essential Home Loan will be reduced to 4.90 per cent per annum.
AMP Bank has also reduced its interest rate for its one year standard fixed rate home loan by 20 basis points to 4.69 per cent per annum, effective 11 August 2013.
Interest rates have also been cut for the two, three and five year standard fixed rate home loans:
Term | Previous standard rate | New rate | Change |
1 year | 4.89% p.a. | 4.69% p.a. | -0.20% |
2 year | 4.89% p.a. | 4.69% p.a. | -0.20% |
3 year | 4.99% p.a. | 4.79% p.a. | -0.20% |
5 year | 5.99% p.a. | 5.69% p.a. | -0.30% |
The interest rate reduction also applies to Select, Affinity and AMP SuperEdge fixed rate home loans but excludes Low Doc fixed rate home loans.
The variable rate changes come into effect on Thursday 22 August for new customers and Sunday 25 August for existing customers.
For more information, visit www.amp.com.au/bank or call 13 30 30.
