AMP Bank today announces it is reducing interest rates across fixed term home loans settled from 16 May 2023. 

Reductions have been made to AMP Bank’s fixed owner occupied and investment home loans for its Professional Package, Basic products, and AMP First home loans. The decrease ranges from 0.5 per cent per annum (pa) to 0.80 per cent pa across its one, two and three-year fixed terms. One and two-year rates for owner occupied home loans with a loan-to-value ratio of less than 80 per cent are 5.49 per cent pa.

AMP Bank is committed to providing competitive rates for both home loan customers and savers to help them achieve their financial goals.

Sean O’Malley, AMP Bank Group Executive said:

“We regularly review AMP Bank’s interest rates to ensure they are competitive for our customers who are borrowing and saving.

“These reductions to our fixed loan rates are good news for those seeking to fix some or all of their mortgage balance. We know that many of our customers benefit from the greater certainty that fixed rates provide, particularly in periods of significant interest rate change, like at present. 

“We also recognise the cost-of-living pressures facing many Australians and are working closely with brokers and customers to ensure those rolling off fixed term rates are supported.

“Customers are encouraged to use our home loan repayments calculator and get in touch with one of our Home Loan Specialists or their broker to understand the options available to them.”

AMP Bank’s home loan rates are available online at amp.com.au/home-loans/interest-rates-fees.

Target market determinations for AMP Bank products are available at amp.com.au/banking/info/target-market-determinations. 

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