Basic Variable Rate Loan Basic Variable Rate Loan (Owner Occupied)

  • 3.98%
    p.a Basic Variable
  • 3.99%
    p.a Comparison**
  • $545
    Upfront fees
  • $0
    Annual fees
  • 90%
    Max Lvr
  • $1,844
    Per Month*

About AMP

AMP is a leading independent wealth management company in Australia and New Zealand, who’ve helped individuals and organisations build financial security and since 1849. AMP boasts the largest financial advice network in Australia and New Zealand with 4,259 aligned and employed financial advisers and planners. AMP’s motto is believing that financial security can help people turn their possibilities into reality, offering everything from superannuation services for businesses, income protection to low interest rate loans.

Basic Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
rate per annum

Loan to Value Ratio

Borrow up to the maxium of 90% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Capitalise LMI


For ["Equity", "Owner Occupied"], in ["NSW", "NT", "QLD", "SA", "WA", "VIC", "TAS", "ACT"].

10 - 30 years


The level of financial documentaion and credit history required to apply for the loan.

Full Doc
Credit History
Genuine Saving

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
Min Redraw
Redraw fee

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
Redraw Available
Credit Card
Internet Banking
Telephone Banking
BPay Option
Portability of Loan
Professional Pack
Check Account
Direct Salary Credit
Free Transactions
Minimum Redraw
Redraw Fee


You can make your repaments Fortnightly, Monthly, and Weekly.

Interest Only Option
Max Interest Only
5 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.


Ongoing Fees

Monthly and annual fees and charges during the loan period.


Exit Fees

Fees associated with prematurely ending the loan.

Early Repayment
Switch To Fixed


Establishment Fee of $350 waived for new Basic Package loans less than or equal to 90% LVR until further notice. The split loan fee of $75 is waived for limited time only. The Basic Package is a low cost home loan package without all the extra features. It offers customers the option of combining fixed and variable rate loans at a competitive rate of interest. Can be combined with other products within the same package. Choose from Classic Club, Basic, Professional or Select Packages. Target Market This package will appeal to customers who want a simple, low cost loan. It can combine fixed rate loans with variable rate loans - and can include a 100% mortgage offset1 against the variable split. Products Available - Basic Variable Rate Loan - Basic 1,2,3 & 5 Year Fixed Rate Loan Key Features - Competitive interest rates. - Choice of variable and fixed rates (1,2,3 and 5 years). - Up to $10,000 in additional repayments per 12 month period can be made on the fixed rate loans without penalty. - Available for personal purposes in personal, company or trust name Fee-free unlimited access (on variable rate loans and lines of credit) to: - Internet banking, Mobile banking, and BankPhone (each excludes BPAY)

LVR Notes

Maximum LVR excluding LMI is 80%. Maximum LVR 90% plus capitalisation of LMI.


For property purchases >85% LVR, borrowers must contribute a minimum of 5% of the purchase price saved / held over a minimum 3 month period fo the last 3 months. Acceptable forms of savings include: -Funds in bank accounts/term -Deposits -Shares -Equity in residential property -Sale proceeds from residential property -Deposit paid for the property more than 3 months ago For more information please contact your Business Development Manager.

Fee Notes

Valuation fee may apply if valuation costs exceed those specified in Fees and Charges Guide. Multiple Security Fee for each additional security $250. Quoted exit fee includes Solicitors and Mortgage Processing Servicers Discharge Costs. Guarantor Admin Fee of $200, LMI Processing Fees of $100 apply. Switch Fee: $350 - Establishment fee $350 waived for all applications with an LVR of 90% or below - Settlement fee of $250 - No Monthly Account Management fees - Loan Split fees $75 per addition

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided