AMP Bank will reduce interest rates across all variable rate home loans by 0.25% p.a. and is also reducing rates on a number of 3-year fixed rate offers.

This includes a 0.64% p.a. drop in its 3-year Professional Package* Owner Occupier Principal and Interest fixed rate to a competitive 2.49% p.a. (4.02% p.a. comparison rate**).

Variable changes are effective 30 March 2020 and fixed rate changes are effective 13 March 2020.

AMP Bank Managing Director Rod Finch said: “We want to support our clients in reaching their financial goals, especially with current economic pressures.

“This rate reduction gives clients flexibility, whether that be to pay more off their mortgage, use the extra money to help with other household expenses, or to provide peace of mind as they manage through the current unique set of circumstances surrounding us.

“We remain committed to providing competitive offers for our clients and will continue to review rates as we balance the interests of all our stakeholders and manage a sustainable business.”

For more information customers can call 13 30 30 or visit: www.amp.com.au/variableratechange

*Minimum loan size $100,000

**Comparison rate calculated for a secured loan on a loan amount of $150,000 for a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

_{The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517}