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


LIMITED TIME OFFER: The Establishment Fee of $350 is waived for new Basic Package loans less than or equal to 90% LVR until further notice. PRE-APPROVAL FEES WAIVED For a limited time, AMP is waiving the $350 Pre-Approval Fee for all new Pre-Approval applications. OTHER PRODUCT INFO: A simple, easy to manage mortgage package with a highly competitive variable rate loan plus a choice of fixed rate loans with terms of 1, 2, 3 or 5 years. This package will appeal to customers who want a simple, low cost loan. It can be combined with fixed rate loans and can also include a 100% mortgage offset against a variable rate split. Salary Crediting available directly into account. Unlimited free electronic banking transactions on Basic Variable Rate Loans via BankNet and BankPhone (including redraw, direct debit and direct credit with no minimum). Redraw available - limited access options. No access to BPAY. Available in personal, company or trust names for owner occupied purposes. Choice of P&I and IO repayments. Loans from $40,000 to $2 million. Contact AMP for higher amounts. Choose a combination of fixed and variable, and the first 2 splits are free. The Split Loan Annual Fee is payable per annum on the 3rd and each subsequent split. Up to 10 splits available. 100% Mortgage Offset available (mortgage offset against a variable rate split) with zero opening balance, unlimited free transactions including rediATM/EFTPOS, BankNet, BankPhone, direct debit, direct credit, BPAY and cheque book. (No credit interest is payable. Other ATM providers fees may apply to ATM transactions at non-rediATMs. Fees also apply for international transactions and special services). Repayments must be Monthly on Interest Only loans

LVR Notes

Maximum LVR excluding LMI is 80%. Maximum LVR 90% for any acceptable purpose up to $850K for zone 1, up to $600K for zone 2, up to $450K for zone 3 and zone 4 is considered on a case by case basis. Maximum LVR excluding LMI is 80% up to $1.5M (applies to zone 1 and will differ for other zones and loan amounts. LMI can be capitalised on loans <= $1 million (Additional interest margin applies to any loans with an LVR >90%)


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

Quoted exit fee includes Solicitors and Mortgage Processing Servicers Discharge Costs. Split Loan annual fee $75 per additional split (first 2 splits free). Guarantor Admin Fee ($200), LMI Processing Fees ($100).

*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